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Everyone who wants to sell has sold for now and those that got bored have left.
Should be due another upswing shortly.
5.5p is the 61.7% Fib retrace of the 1p to 13p rally. So a decent area to provide support and bounce from.
6.5p/7p is the resistance zone
All of this becomes irrelevant when we get the greenlight... Then we are talking 25p / 50p who knows
IG - do you think we will only re-rate to 25/maybe 50p with approval or acceptance of the proposal.
I personally think we could be higher given that this was trading in the poundland for much of anticipation of approval, albeit with less shares.
Who knows its hard to value the mine with $1b of investment from China Power if we get approval
Will be significantly higher than 5.5p though thats for sure.
Rec - I'm invested and hope like everyone else here that we get the approval.
I would assume PC will take a hefty wedge of the project from us if they are to finance the entire thing. I'd imagine we'll be left with c. 10% of the project as a free ride. Given that the value of the the project is worth c. $30bn depending on what discount factor you use (572m tons of coal at $50/tone over 30 years) our value is anywhere from $0.5bn to $2bn, which equates in or around to $1.5 to $7.
Given the above, I think the SP could rush up to about 100p on approval but then fall back as the market takes into consideration the time-lag between approval and cashflows to GCM.
All holders are positive either bought very cheap or bought high, but losing a penny a month and soon that positivity will be gone as peoplebail out slowly, how many years has this been going on for lolcome on guys be realistic, gcm have no chance this or next year listen to the government what they want and who's next up in line not gcm tats for sure 100%
Cybertron, that completely explains the $1bn Power China contract!
Cyber - why do you think not this year or next year?
What's your thought process on this, if any?
Just go look at the plans in coal and who there preferred company's are in line, I will find it later in this evening and post it, at work now,
China has Ben talking to gcm for a long time they are in no rush with project funding they know gcm knows this will happen but it's going. To take time maybe another 2)3 years,
The only people being fooled are investors by gcm so they can have their funds to keep going and pay checks, do t be so naive,
Cyber - ooh! and who do you think is up next?
Power China signing up to the $1 billion is the key here. They will be party to a lot of discussion and proposals. It’s just a waiting game now. GLA
Away from cyberspace, the best coal in Bangladesh is at Phulbari and available via open pit mining which is urgently required to reduce cost of electricity and debt and power business. GoB have not got a timescale but maybe PC do and seem to be moving the project forward while the media/campaigners provide the tailwind.
Comedy gold again here
Ramping crew according to script....
Lots of accounts in play
All with high numbers;)
Funny to watch.
Get it up a bit today guys. Will be good for next week
The same phulbari project that has been ongoing for well over 20 years waiting for the ‘green light’ to be given at any moment…
Placing issued each year with share dilution and money in the millions needed for ‘operating expenses’ directors lining their pockets with fat salaries. If they really believed they would be given approval, why did they not get involved in the fund raises that keep happening each year?
The government of Bangladesh are keen to introduce clean renewable energy and been very vocal about this.
NCTrade - Does the N stand for Negativity?
Header will confirm into weekend as people look to re-enter investment imo.
Looking at developments - JICA meeting which was call because of concerns over ability of Bangladesh to repay Japanese loans.
Reports requested from Ministries and Energy Minister confirm proposals to JICA.
Look like this in line with GCM / Power China project proposal as we discuss earlier in post.
All coming together very nicely for shareholder and look like price move back up on limited shares in issue.
🦉
+9.16% UP!
Mr NCTrade - Have you had your eyes closed to all INTEL / INFO posted on BB??
Ticked up and L2 getting stronger.
Cap'n I canna hold her any longer...she's gonna blow.....
:) gla
Wiseowlspeak
Power, Energy and Mineral Resources Minister Nasrul Hamid has said that Jica's cooperation is needed to make a comprehensive investment plan for electricity based on demand.
No help or assistance sought from China and Jica has no relation with power China
Is that all he said sir?
Wiseowlspeak
Here’s the article sir
https://www.tbsnews.net/bangladesh/energy/nasrul-seeks-jica-support-investment-master-plan-based-electricity-demand-849431?amp
Yes - I posted that this morning.
Check my post at 07:27 & keep up please!
🦉
That was to Mr NCTrade!
Also did link in to GCM / Power China Project proposal details & additional references from GCM RNS! 🦉
The joint development agreement for a solar project that was rns’d on the 9th Jan 2023 with no further news or updates since then…
The JDA has a term of 12-months and does not at this stage commit any of the parties to expend any specified sums. It is the intention that it will be superseded, in due course, by a more detailed working arrangement between the parties, but may be terminated earlier under certain prescribed conditions.