Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The Scheme of Development includes all environmental considerations as developed by Asia Energy in April 2006.
https://www.gcmplc.com/phulbari-coal-project/overview
Why can't this board have normal discussions.
It's actually laughable.
that guys taking ****e then !!!
GCM has had all studies done including environmental & social impacts.
It is the only coal development that is ready to go ahead now
Any project in the UK will require an environmental study before it gets approval!! Will this project require something similar or has it all ready ticked all the boxes as far as the environment is concerned?? Searcher any ideas ???
Thanks Doze,
Much appreciated mate.
It is a complicated one.
If the green light is given, all those issues will naturally fall into place one would assume.
Things are heating up very nicely.
Regarding
mankini i think it was mentioned in the rns that the locals are on board now! it’s the usual environmentalist *******s that has already been addressed in the study.
Doze
I would recommend looking at Fulbari on Google maps, not a very big place really, honestly not sure where the actual coal/ mine will be situated but the vast majority of the area is farmland with a main st.
Jamess, I am assuming the figures for profit will derive from PC sales of coal. After calculation of production costs which are mainly extraction and management involving GCM and PC, the sales to power stations will have a profit element which will be split % tax % operational costs and % to licence holder and quite possibly % to local authorities put in charge of water pumps (as would be prudent for future management). Just my musings as I would like to see the final acceptable face of capitalism applied. A lot of negotiating to do post approval on a country level and technically complicated.
Wolfi, 6,688 hectares can be compared to this data " The Fens is an area of 400,000 hectares, stretching from Lincoln and Boston in the North, Cambridge to the South and Peterborough to the West. " " Data on the 2021 population of Greater Lincolnshire and Rutland taken from the 2021 Census5 show a total of 1,136,000 residents across Greater Lincolnshire and Rutland. " (733 ,900 hectares)
Acid mine drainage amelioration measures need to be watertight! When you look at the fens which have had water management since Roman times you would think it was manageable except we do not have monsoons to contend with or iron sulphides I suppose.
Population density must be greater in Bangladesh
That’s a very good point Mankini - no protestors as yet. That in itself bodes well.
All his negative comments regarding the project have all been fully addressed in feasibility studies. These type of people are never interested in facts.
Also, considering how close we are, have we heard of any more protests in Phulbari against the mine?
No protesters at the AGM for the first time.
Sounds like the author is a bit out of date with his views on public opinion also
One of the questions specifically asked at the AGM was about what inter-action had GCM had with the people of Phulbari to ensure that there was not the same uprising as in 2006, Gary spent a lot of time on this subject and went into a lot of detail about it, but in short he said that a massive amount of work had been done on the ground in recent years and that they have been in very detailed discussions with the people of Phulbari along with discussing about rehabilitation etc etc and that they were very confident that the people of Phulbari were now in favor of Phulbari being mined....
Its probably written all the time, but it did make me smile when i read at the bottom of the article....
"Views expressed in this article are the author's own."
Another scenario out of James's head.
Let us say that the government have agreed to go forth with the open pit mine.
How then do we think the profits will be split?
Given current stake holders are;
Do Power China own any GCM shares?
GCM. ?
Power China. ?
Bang Gov. ?
GCM would share their cut out acordingly, I assume
Gcm Stake holders ;
Polo resources 17.8 %
Dyani. 12 %
Infratech. 4.2
I know the SP would rise and everyone here would be long gone i.e. no one really cares who gets what.
But this is another interesting angle on the whole situation.
Mr James - only one "desperate" is you sir & demonstrate with your own post history (ones who reaf this BB regularly understand this clearly about you).
My reason for confidence is clear - just look at all RECENT articles from different sources that coming out of Bangladesh & even protestor understand Govt looking at this now when before they say no way.
Why?
This is where Economic situation need to be understood. I mention IMF weeks ago when someone here say they are "expert on Hasina" - I tell them maybe more useful to understand lending process at Govt level !
Now we see development with Petro China / Domestic Energy Suppliers and ask yourself very BASIC question - what make those BIG players so CONFIDENT?
In countries like Bangladesh they will have access to GOVT at very highest level - maybe think about this.
Buy or not no problem - many if us understand OPPPORTUNITY is BEFORE any official announcement AND with research base on multiple sources.
Maybe "joke" is one who try to play BB and argue against very strong case for investment yes?
Even funding situation is known for weeks and like I say just look at last finding round with HARD PRICE PUSH because of small impact on postal shares v Upside potential.
Many clever ones are keeping shares tight while the real "desperate" ones try to play BB with straw person arguments 😏
Be Wise 🦉
They aren’t being ignored. They are being addressed in the SoD.
The arguments against open-cast mining seem like weighty reasons that cannot simply be ignored. Or is it all just propaganda?
This is the view of an enviromentalist regarding Phulbari article dated today. Note that he says ;
A plan to extract coal through open-pit mining in Phulbari and the northern part of Barapukuria coal mine area is being revived by the government, despite strong opposition by locals and environmentalists due to its devastating impact on agriculture, environment, and livelihoods. According to BBC Bangla, the ministry of power and energy will submit a proposal in this regard shortly at the highest level of the government for approval.
In fact, when coal power plants were being built one after another in the country, we expressed our concern that even though the carrot of cheap electricity generation using imported coal was shown to justify the projects, once the power plants are commissioned, it would be said that importing coal from abroad requires a lot of dollars, so local coal needs to be extracted. Unfortunately, this concern has now proved to be valid.
He then goes onto his reasons why open pit mining is bad.
https://www.thedailystar.net/opinion/views/news/why-open-pit-coal-mining-phulbari-will-be-disastrous-3578001
If you’re a regular reader of the bb and believe jamess is invested in GCM then more the fool you. This is the same guy shouting sell and anti tang at 2p because he got shafted out of his polo holding. He’s been subtly (today) and not so subtly (past few weeks) deramping ever since..i understand trading with caution and i know a salty individual when coming across one and he is certainly the latter.
Last week he was suggesting hypothetical scenarios, such as ‘what if power china pull funding’. This week it’s placement. Lol
Power China inked deals worth over CNY1.1 trillion (USD152.4 billion) last year, a 13.2 percent increase on the prior year.
⬆️ I don’t think they’ve stuck around GCM 6 years, lobbied government and carried out a joint proposal just to pull the plug on less than 0.5% of last year’s investments.
Searcher is right in suggesting any placing won’t have the slightest difference over a shorter to medium term and IF it is done before the end of May it’s been done because approval also arrives before the end of May with someone wanting a piece of the cake (likely someone Tang affiliated) imo.
Jemesss, yes like you, I believe that it really is decision time… I know it’s may sound surprising , but I like some other poster I know would rather they do the fundraising sooner rather than later, just to take another negative (to some) out of the equation, but in theory GCM have already stated in the RNS that this does not have to be done until the end of May… by then the share price could potentially be in a very different place … just think 5 weeks ago we were about 3p , at the beginning of February we were at 1p …. If we get even a hint of more positive news, I wonder where the SP will be in May ….
GL and I hope it works out in what ever your choice mate
@Searcher, all fair comments.
It's coming down to line for everyone it seems.
I will pick up some more shares after the placing.
If the Government does give the go ahead, then you will get investors falling over themselves wanting a piece.
In the light of frequent coal shortages, diversifying energy sources, promoting energy efficiency, and increased domestic coal supplies are crucial for a more stable energy future. Examine.
https://www.insightsonindia.com/2024/03/29/in-the-light-of-frequent-coal-shortages-diversifying-energy-sources-promoting-energy-efficiency-and-increased-domestic-coal-supplies-are-crucial-for-a-more-stable-energy-future-examine/
Crazy Searcher.
“The government is bound by its commitment to the IMF-bailout package to maintain a threshold on its foreign exchange reserve. That is non-negotiable. ”
They could have avoided all this by green lighting Phulbari 10+ years ago (at least).
They have to sort this out - and soon.
As I keep on saying, imho, they can not afford to ignore Philbari and keep importing coal because they will bankrupt the country!!!
https://thefinancialexpress.com.bd/views/columns/capacity-payment-will-lead-to-bankruptcy
Jamesss, just to counter your post and thoughts, it’s actually the government of Bangladesh that are up against the clock,…. They simply can not afford to continue to import coal as they do and ignore Phulbari ..
You ask the question about future funding before the end of May, which I understand, but this does honestly not concern me at all….. we were assured at the AGM that GCM had already had interest from parties wanting to take part in the placing and to me I’m really chilled about this fact… even if they did a fun raise on Tuesday when we start to trade again, at a discount it would add anything form about 10 to 20 million shares depending on how much they want to raise….. do you really think this is going to have that much overall effect to the SP as we move forward if we got the green light…. I don’t!