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2 million pounds at 8.65pence
Uh no. At 6.5...
30 million extra shares.
But have to admit. Not a bad placing.
I close my short on this raise. See you in a year or with news...
6.5p *. Entirely in line with expectations. 16 months runway. Glad it’s out the way, I always had a small worry than Tang wouldn’t complete the raise and delist!
I made the same mistake!! Mr Stephen put me right
Commenting on the Subscription, Michael Tang CEO said: " I am delighted with the support from the London Market, which comes at a time when we are increasingly more confident that the Government of Bangladesh is receptive to the advantages of domestic energy production; our focus and main effort now is to secure the consent to develop the Phulbari Coal and Power Project, which we are well placed to develop alongside our global energy infrastructure partners, Power China."
Very happy with the fundraise! Considering the amount 6.5p is definitely a fair price and will see us through to well after production begins. GLA
‘The net proceeds of the Subscription will provide the Company with working capital to support the strategy to progress the Phulbari Coal and Power Project through the next 16 months on the Company's current cost basis.’
Last week our buyer took over a million shares alone over 3 days (didn’t track Thur/Fri) so a measly 2m shares will get chewed up pretty quickly! Hopefully he’s feeling peckish and we’ll get through them in a day.
Support is 6-7p and I don’t believe we fall below it, in fact after a small drop i believe now funding is out the way the next attack on resistance will see us push through!
Next few weeks will be game changing imo! GLA
Hallelujah that’s now not a talking point and holding us back. 10p+ this week.
Good luck buying any dip in volume.
Great news, and shows the confidence shown in GCM, I am soooooo pleased to finally have this out of the way!!!!
I must admit that this is a good fundraise at 6.5p.
Now with the assurance of funding in the bag, we can look forward to the submission proposal to the GOB and more positive news.
One thing for sure - you don't want to be out of this now that the placing has been done as I can see this rallying into the teens as we near the end of April.
Tang's comments, without letting too much out, was quite reassuring with regards to moving forwards with the Phulbari coal mining along with PC.
All looks good as we move towards end of April.
Fundraise out of the way.
Back to simple flip of the coin: will Hasina consent or not. All the rest is useless but i guess a lot of "research " will be shared the coming months while we wait to make a trading profit....
Nothing wrong with that but be open about it ;)
Thanks again Mr Wos.
Never made some much easy money by just following you and do opposite of what you say
Thanks mate.
Any other stocks you comment a lot on? I will follow you. This one is done. Matad we wait for AGM.
Very good to have funding security in place - and funding issue OUT OF WAY!
Also all talk of "3.5p placing" etc by usual suspects! 😂
Now we focus on Project Submission / In Country - Economic - Political Intel 🦉
Today's the last time anyone picks them up around 7p imo! If you’re lucky enough!! GL
For personal selfish reasons - I'm hoping to get plenty in the 6's but I doubt I will get much as it will probably be NT to buy.
Another piece of jigsaw placed.