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Short term traders flushed. placing stock at 6.5p flushed
Now the reset has happened we should kick on higher
Any sniff of an agreed deal and it'll be 20p+
Not meeting targets set by the IMF isn’t something to be proud off, and hence why they need a bail out!
Poorly run country by the government in charge and corruption is rife!
China have been providing Bangladesh with millions and billions of pounds of loans at extortionate rates for many years now sinking Bangladesh into more debt so it’s nothing new.
Nice call Wos. Good to make it an UP day
Cheers mate
It went from pretty nailed on now to a guaranteed GL. Have the Chinese agreed? They usually do as it gives control. Control for what? 😙😁🥳
They will have to import coal for the next 2 to 3 years, even with GL.👍👍
BOOOOOOOM!
Up over +7.00% on Google finance with Buys coming back in. Think lot of sideline traders maybe understanding implications of Intel.
Let us see but VERY positive development with Prime Minister hands to Chinese in middle of worsening FX catastrophe.
We'll make the loan if you sign off on some large infrastructure projects with Chinese companies...........
Leverage enough for GL?????
Lets hope they dont just blow the lot on imported coal lol!
Great find Owl. As was mentioned a while back, even giving Phulbari approval would not help Bangla out with their current FX issue, looks like this news sorts that out. 👍👍
I think we can. GL
Last orders at 6p. About to pop higher
Thats a really good find wise owl! very significant
If theres only buyers then why is the price not gone up - the massive volume recently and lack of upward movement in sp would indicate there are indeed sellers offloading and filling all these buy orders
News TODAY!
"Bangladesh to seek over 36Bn yuan in Chinese loans - Bangladesh will seek a loan of more than 36 BILLION yuan, equivalent to 5 Billion dollars, from China to reduce pressure on its dollar reserves."
"Sources in the Ministry of Finance and Commerce said the Prime Minister's Office has already given the approval"
Re: IMF Meeting - "Foreign reserve could not be maintained. To get the third tranche of the loan the IMF had a condition to preserve net reserves of $19.26Bn at end of March and $20.1Bn by the end of June. Currently the net reserve of Bangladesh is about $15Bn"
Source: BBC Bangla (bbc.com/Bengali/articles/cp0gpg53d8jo)
Bangladesh in serious trouble - running to China for help - Conditions / Way out will need to be presented!
Phulbari - GO!
There's not an over hang. The offer is thin as you like. Clearly there's no sellers here only buyers recently
You’d think they would push the approval through knowing it 2 years to coal production. China power being involved may reduce that time frame but the green light must be nearing
Overhang still being played out. Not sure how long this will take. Only a good rns will drive this forward. We wait in anticipation.
….. going back up now. 😉
Just tried to sell 500k shares in one go and its well bid. Looks like market taking a stance here and cleaning up all the remaining loose stock. Would expect to see some upside from here. Delayed buys to print soon
Have a feeling we see some strong buying and a tuck back into 6p range
EVERY Intel lead IN Country / IN Company and other Economic factor which put Bangladesh in this situation point to ONE OUTCOME - PHULBARI.
These Intel sources also give us TIMEFRAME for Project Proposal which fit in with Energy Committee Meeting.
*Price impact factor to (temp) halt uptrend - April placing with high churn - also suspect private investor trading (of course) but they will also be one closely monitoring to Buy Back In (do not believe what they say about their re-entry price target lol)
- Very Near Term timeframe for News Release if you go by all Intel leads
Make own investment decision but DO expect single day hard push Re-rate (as we see before & imo) when placing share replete / trading PI jump back in en masses.
I think this is Fair assesment & all Source/ Intel base 🦉
I traded them until they were worth.seven figures oilyfred. I forget my exit point. £3.50+ I think.
I like these bits of the article , although not new news
On March 11, GCM said in the notification that the company has received letters of interest to purchase Phulbari coal from Bangladesh's private sector coal producer SS Power's 1,320 MW Banshkhali coal-fired power plant and Barisal Electric Power Company's 350 MW Barisal coal-fired power plant. It is noteworthy that China's state-owned company Power Construction Corporation of China Limited (Power China) has a stake in these two power plants that want to buy coal from Phulbari. GCM has signed a $1 billion deal with Power China to 'cooperate' in the mining of Phulbari coal.
Quoting the Ministry of Energy, BBC Bangla informs that within the month of April, a proposal made on the basis of data from various surveys and feasibility studies conducted in the country's coal mines will be presented to the highest level of the government and sought approval. Despite the threat of destruction of agricultural land and water resources if coal mining is done, the rationale behind this initiative to extract coal is to deal with the future energy crisis and reduce import dependence. (New initiative for open pit coal mining in Bangladesh, BBC Bangla, 15 March 2024)
https://www.prothomalo.com/opinion/column/4oxptaf347