RE: Not a bad week then8 Mar 2024 17:28
I’ll start with my 2 cents:
- Proposals to be submitted this month
- Energy minister openly talking in press as Phulbari being the answer to countries coal problems
- Every macroeconomic factor
- Locals are happy to relocate and are finally on board
- Power China, a power house as JV partner already committed to investing billions to get mine operational has hung around and probably whispered in a few ears re this project (they already have an operational mine in Bangla amongst other ventures, so know all the right people)
- Gov left with no choice but to mine own coal
- 100 billion asset of which GCM own the license for
- Have been lobbying the govt the past 12 months
- Offering govt involvement in the project (final piece of the jigsaw imo)
- Coal to be used in Bangla and not sold off abroad (historical gripe of locals, who are now onboard)
- Almost half the shares are held tightly by CEO and associates directly or indirectly (why it’s so hard to buy and moves the way it does)
- CEO practically self funded this not taking a wage in over 3 years and keeping us afloat because the LSE listing and the securities it brings is essential with the kind of money involved in a country like Bangladesh
- Funded until end of May at which point we’ll hopefully be in the pounds, not pennies and future fundraises (3m loan repayment) will be off the back of this new SP
A lot of posters went to the recent AGM where the mood was the best they’ve described in years and comments like ‘next year Champagne instead of tea’ do little to calm enthusiasm like mine lol
We have so much short term price triggers to come with confirmation of NED appt, TR1’s, press releases and details of the proposals this month being leaked a measly 10m mcap will hopefully be blown out the water when we have a hundred billion pound asset on our hands. So first for me is 100m mcap which equates to around a 60-70p share price.
New entrants need to know us LTH’s have waited years for this and most are in red, there’s no way we leave here without approval.
As always, with any share on Aim only risk what you can afford to lose but as far as risk vs reward go this is the best gamble available on Aim right now and being top of the leaderboard today reflects that. GLA and have a great weekend