Member Info for 99icecream

There is nothing surprising in this report. Barapukuria may run out of (underground mined) coal soon, so they want a new coal field.

https://www.daily-sun.com/printversion/details/335223/2018/09/11/Barapukuria-may-run-out-of-coal-in-3-years-

From JICA Draft Plan 2015:
Dighipara Measured Reserve is 150 million T - Probable + Measured is 600 million, Mine-able is 15% (so 22.5 to 90 MT).

Note that 90 million T, extracted over 30 years is only 3 million T a year (enough for only 1.5 of GCMs planned 6 power plants).

The port of Pointe-Noire in the Republic of Congo will inaugurate its new quay on February 18. Following the completion of this structure, several others on the continent are developing their ports in a sustainable manner.

https://www.youtube.com/watch?v=OsaLPZYc6uc

Eli Akaso stationary off Tema (Ghana) since 2 February.

”Therefore, the Bangladeshi government is taking prudent decision to diversify the primary energy sources in the form of coal reserves."

GP - More evidence of the Government taking the credit for the development of Phulbari (the only mine with significant recoverable reserves)!

No, you don't need the coal policy. But you need the Government fully on board - which means allowing them to take the credit for getting this"Chinese" project done. You also need much more than just allowing the mining. You need the Government to commit to buying the electricity and you need commitments to build the power grid and local power infrastructure to get the power to the users (etc. etc.).

Energy and Power 4 Feb 2020

"Nasrul Hamid said ........... the government will finalize the draft coal policy at the quickest possible time."

https://ep-bd.com/view/details/article/NDQ3OA%3D%3D/article-title?q=gas+reserve+to+be+exhausted+in+11+years

IMF Aid to Congo Republic on hold over Glencore, Trafigura impasse

https://www.reuters.com/article/congorepublic-oil-traders-debt/rpt-imf-aid-to-congo-republic-on-hold-over-glencore-trafigura-impasse-idUSL8N29W0QB

Oil Prices down 2.5% - so most if not all oil stocks are down.

"Room and Pillar" mining method, accessed by a 4km decline (1 in 7 gradient).

According to the application letter (for the seabed survey) sent by Exola DAC, its directors are - Alan Linn, Pat Plunkett, Angus McCoss and Simon Brett.

£9 (11 March 2005)

The highest price was about 38p in the last 2 years.

BTW - If my (rough) calculation is correct the current buyback ends on Monday.

Myshiptracking is forecasting the 21st January based upon current progress.

It means that SLE think the share price does not reflect the true value. Buying shares at low prices (46p and more recently approx 28p) will increase the value of the remaining shares. The first half of 2020 should be very interesting as the value of SLE beyond the cash pile is revealed.

Alaric
Eli Akaso rounded the Cape of Good Hope this morning.

Currently south of Madagascar

The situation is similar if it is English or Irish law. APEC are in breach of contract as they have not provided their part of the deal (termed consideration). APEC might argue that its been discharged by frustration (i.e. their inability to pay). Either way PVR can treat the contract as discharged (or continue with the contract an sue for damages). From what PVR have said (1st October RNS) they will set the contract aside and take back the shares. PVR would be wise to wait a reasonable amount of time after the discharge of contract to see if APEC will try challenge their actions legally. It is too late for surveys or drilling as they did not full fill the first part of the contract (paying the $9 million).

I don't think the Chairman would want to manage it (and then have to manage what is left behind). His best hope is that at least two firms want to bid for the whole of PVR.

I'm not sure who you think is confused here. ".... The sale cannot happen until the APEC shares are legally back with their original owners..." seems straight forward. There won't be a bid for Providence whilst the ownership of its key asset is unclear.

As for Providence selling subsidiaries or assets - its difficult to see how this would occur as Providence don't have the staff.