RE: More late trades reported20 Mar 2024 22:23
Hi Doze.
There’s definitely an entity buying large swathes of shares and has been for weeks - imo this is a govt related company and will continue to buy. They can’t publish tr1 until after approval so to not let cat out the bag (all of this imo and might be totally wrong).
Reason this makes sense to me is, Govt don’t only want stipulations as part of licensing conditions (approval) they also want some say in the day to day running of the mine given how big this is for Bangla.
‘Our business model has two business units covering the core aspects of the Project:
· "MINING COMPANY" to develop and operate the coal mine; and
· "POWER COMPANY" to develop and operate the proposed 4,000 MW Ultra-Supercritical power plants already covered in JVs with our Development Partner, PowerChina, and to develop and operate the mine-site Solar Power Park.’
‘GCM remains confident its Strategy and Business Model will deliver project approval and enable the Project to: reduce the Country's exposure to the volatile energy market; deliver a long-term positive impact on Foreign Exchange Reserves; deliver the lowest coal-based energy price and cheapest electricity, enabling expansion and competitiveness of industries; produce new higher paying jobs; and grow the economy. It potentially will be a catalyst for a "step-jump" in the Bangladesh economy, supporting its move a Developing Country status by 2026 and helping achieve its Vision 2041 to:
· End absolute poverty and to be graduated into higher middle-income status by 2031; and
· Eradicate poverty on way to becoming a developed nation by 2041’
••• in my estimation the entity buying has picked up over 4m shares already (around 3% of total shares) with no sign of slowing down.
I may be totally wrong but it’s an awful lot of money and only a massive player can buy shares on the open market like this, knowing it results with an increase of SP and more costs (todays SP is minuscule compared to what it might look like in 3 months time).
The traditional way would’ve been via a reduced placing but it seems like the days of getting gcm shares cheap are gone.
‘Industrial Mineral Co-Product JV Company" to manage the extraction and delivery of large-volume valuable Industrial Mineral Co-Products that can be recovered from the overburden material removed to access coal, i.e., available ahead of reaching first coal. These Co-Products consist of gravels, aggregate, sands, glass sands, ceramic and pottery clay and potentially bottled water. This is potentially a very large business opportunity with the value of Co-Products available over the life of the Project estimated at over ten Billion Dollars. Also, the Industrial Mineral Co-Products are in great demand in Bangladesh, so this JV Company will also add great value to industries and the economy, and importantly will deliver cashflow to the MINING COMPANY well ahead of first coal.’
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