George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Nobody knows more than what’s written in official releases, such as the extract you just posted. There’s also the below:
‘Throughout the reporting period and beyond, the Company's Dhaka-based team has maintained contact with the relevant government agencies and there is credible evidence that the "new plans" cited by the Honourable Prime Minister are being framed and that such plans are addressing domestic coal extraction and exploration efforts for new gas. This is exciting news for the Company, the Project and its Shareholders and efforts are being made to ensure we are in the strongest position to engage with the newly elected government within the 1st Quarter 2024 and deliver the Project Proposal which includes a large-scale Solar Power Park as an adjunct’
Some don’t think the above means proposal will be put forward within the next 13 days….but it clearly says ‘engage with govt first quarter (which has been done prob since govt reelected, hence the funding rns) AND DELIVER THE PROJECT PROPOSAL.’
That to me definitely reads like it’ll be done within 2 weeks if it hasn’t already.
I’m also of the opinion DG have sold most if not all of their shares since Monday because nothing on their website indicates they hold shares in companies, they have bills, wages, rent and other expenses to think of and took on lobbying for GCM to govt when SP was lower than what they’ve sold at the past week - IF it was them selling, obv i’d prefer they weren’t selling because it add more weight to approval and them selling higher but I understand why they would given if GCM proposal is successful DG’s success fee is an additional 4% of current shares in issue which they can’t sell for 6 months. So it kinda makes sense for them to shift some now to keep the lights on given they have no choice but to hold onto their success fee. That selling stunted our gains last week and going through last weeks big delayed sells it amounts to around 4 million shares, which is what they had.
We also have a large buyer, this coupled with seller clearing will see a massive scramble for shares very soon. I’m hoping NED is confirmed asap so i can add to my vast holdings even if it means paying more.
Interesting couple of weeks ahead for sure. GL
I think a deal is already being done and ‘approval’ is given around mid April, hence stipulations like Mondays rns and a pledge of funds by Power China.
Happy to wait however long it takes but time is not on Bangla Govt side and this is needed now.
Https://www.lse.co.uk/ShareTrades.html?shareprice=GCM.GB.PL&share=Gcm-Resources-Plc
A couple of whoppers appeared on the alternative universe. 1 definite buy from 4pm today and not sure what the other was.
What i was rambling on about yesterday, buyer and seller.
15-Mar-24 08:12:13 7.75 173,471 Unknown* 13.44k O ***Buyer
15-Mar-24 08:18:54 7.95 100,000 Unknown* 7,950 O ***Buyer
15-Mar-24 08:18:53 7.575 100,000 Unknown* 7,575 O ***Seller
Feels like they want to move this up today as they did last Friday. GLA
Mining both Barapukuria north and Fulbari using the open-pit method could yield 620 million tonnes of coal, meeting 70-80 per cent of the country's demand and saving $4 billion annually.
A model town will be constructed in Fulbari's western part, with farming allowed until mining starts. This rehabilitation plan will cost $1 billion.
Nasrul Hamid has given assurance that groundwater will be managed during coal extraction, and locals will be employed and rehabilitated.
He highlighted that coal mining may reduce crop production of Tk 5,000 crore annually but importing coal could cost about Tk 70,000 crore yearly in future.
- Nasrul Hamid reports directly to the PM, ask yourself why is he giving ‘assurances’?
Once statements like this are made, wheels are already in motion. Don’t let daily fluctuations doubt the reasons for investment, we’re still up on last Fridays close and won’t dip below it imo.
Just need this dastardly NED confirmation so we can really shout from the rooftops!
Yes and there’s every chance that might happen, it doesn’t happen before approval though (we already know the proposal will be put forward as a joint presentation).
On approval would love them offering a buy out, can’t imagine we’re valued less than 5% of asset value which values us around £10 a share.
Doze if you are worried by the SP movements you really need not be, it’s clear the mm’s are working through a buy and sell order.
The sell order being key, i believe it’s DG selling their 4m holding for work carried out lobbying govt. Companies like this aren’t typically interested in holding long and if you search them it doesn’t mention anything about having shares in any company, just lobbying on their behalf etc.
Mm’s want them shares as cheap as possible and sell them back to the market higher, the sell order is in and imo isn’t far from being fulfilled looking at the volume this week. Once it clears, we’ll start moving freely again and you must know how hard it is to buy given the small free float.
3 months ago you wouldn’t have imagined us moving from 1p to 12p and likewise in 3 months time you can’t imagine us being at 50p but it will happen regardless of who’s invested/ramping/deramping etc. Fyi I don’t believe we drop below 6p.
Know that we’re presented with a very rare opportunity with GCM and potential growth in SP so invest what you can knowing everything seems in our favour and it’s the best risk vs reward share available.
Time will take care of the rest. And not long of it to go. GL
It’s a hundred billion dollar asset we’re investing in with a mcap of less than 25 mil.
We know the coal is needed. We know the energy minister is talking about us. I personally believe it’s a case of when and not if now….but we need to get NED’s out the way asap!
GCM proposal will be done alongside Power China.
Search Power China and the projects they’re currently working on in Bangla and you’ll have all the reassurances you need.
We couldn’t have asked for a better partner if we voted on this board and decided between each other. Lol
The update also mentions offering the govt a slice of the cake, hence they might be adding via an intermediary the past few weeks on the open market.
NewboF - our Nomad stated without a NED they would resign and without a Nomad, we can’t trade.
That said a new NED has been found (was at the recent agm), going through Nomad approval as we speak but we crave the confirmation as does the market.
I know NED’s is almost a formality but it still needs confirming and until it does there's still risk as far as the market’s concerned.
Once that’s confirmed then there’ll be plenty (me included) adding sub 10p and placing our bets on gaining approval.
Right on cue - some delayed trades show up.
14-Mar-24 10:33:47 7.40 150,000 Unknown* 11.10k O
14-Mar-24 10:32:43 7.425 100,000 Unknown* 7,425 O
Both are these are BUYS from just over an hour ago when the sell price was 7p. Someone’s been picking em up for weeks now, would love a TR1 linking it to govt as a few of us here suspect.
Anyway swings and roundabouts for now, enough chat spam for the day. GLA
And there will have been a reason for the fall, i reckon DG have been offloading some of their 4m holding since Monday given they were paid in shares for lobbying govt. That doesn’t reflect on the project in any way because like any business they need money to survive.
We won’t know for sure until market is notified so expect TR1. We’ve also had someone buying heavily since first of Feb and haven’t been notified who it is because they keep adding and i believe don’t need to notify market until a 3 day lull in buying.
Very interesting few weeks ahead. GLA
Threat of fundraise? Is it the end of May already? Lol
We have funds for another 3 months, at which point approval will have been given and the SP will be at least 10x higher. CEO doesn’t want to dilute himself anymore than necessary given he owns a large portion of shares.
Buy the dips as 8p is cheap with transformational news around the corner, some of us LTH’s have a higher average and have been waiting for this moment for years! GL