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GCM who have the coal and popwer project, at Phulbari in Bangladesh, today announced an extension to GCM's Memorandum of Understanding (MoU) re: the Coal Mine Development project.
We know NCCL now pushing on their coal project, exploring JV or sale (with parties engaged, I believe, at early stages). GCMs news shows that China remains open to coal mine development (i.e. there is no blanket 'NO' response to foreign coal mine projects - GCM shows this).
Could get interesting...very interesting!
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'The Company advises that, further to its announcements of 23 November 2021, and 2 June 2021, Power Construction Corporation of China, Ltd. ("PowerChina") has agreed to an extension for a period of a further 12 months from 6 December 2022 to 6 December 2023 on the same terms as the previous memorandum of understanding ("MoU") which is primarily focused on the Phulbari coal mine development. This will allow PowerChina and GCM to determine the modality for PowerChina to become a Mine Development Partner, subject to the approval of PowerChina internal compliance and all other relevant regulatory agencies.'
https://www.investegate.co.uk/gcm-resources-plc--gcm-/rns/mou-extension---phulbari-coal-mine-development/202212120700032978J/
Crouton Factor- there is no comparison between the two companies.
Dream on..
Actually Daisy the two companies seem remarkably similar.
£xxx millions raised to launch money spinning coal projects. Years/decades later no sign of any operational coal projects and ((£xxx - £x) millions have transferred to a few delusional chumps how hold the £x million and still think they are sitting
on a ten bagger.
Puts me in mind of the old grifter maxim - if you don't know who the patsy is - you are it.
Having been in Polo Resources years ago and actually made money from it but was sold to the current clown in charge who has never returned any thing back to investors and been getting an extension on the phulbari project for years on end in my eyes they would be better putting solar panels on it and running hydrogen generators be much cleaner cause coal is on its way out , I hope the clown in charge of nccl doesn't sell us down the road on this one .