Member Info for Bangla

Fair enough. if you had asked me at Christmas I would of probably agreed with you. I bought back in at the time of the last raise thinking if Kilkenny and co are getting back in something must be going on only to see it drop 50%.

I’m now convinced something is going on. What that is or what it will mean to shareholders is anyones guess but things feel different this time round, just my opinion, it is clear pulbari is well and truly back on the agenda and being seriously considered. And Bangladesh are desperate with very little options . Things have have changed worldwide with most of Europe going back to coal, they have a new power station getting commissioned with no coal to run it, it’s farcical.

I watched a presentation Gary Lye gave years ago recently in which I think he addresses all the water and farming issues and things have moved on massively since then , if the government want this to happen it will happen, protesters or no protesters .

https://www.youtube.com/watch?v=1R4_TPa7mUk

I think this is it,

Pulbari. I don’t want to get personal or course an argument but was wondering why you are here ? Having a quick look at your posts you have been constant in your opinion that hasina will not give permission to mine , your favourite saying which you have used regularly since you joined, is “she won’t dig a big hole in her own back yard” I mean I wouldn’t dig a big hole in my back yard but might change my mind if someone was going to give me $100billion. Unless there is something your telling us , like everyone els you have no idea what the discussions with the gov are .

Of course you have the right to your opinion and it’s just as valid as anybody else’s . You don’t try force it on anyone els and I do respect that , I just don’t understand why someone would invest money in something they have no confidence of happening,

It is clear that Phulbari is definitely being discussed and has been for some months. The need to mine coal in Bangladesh is very clear and Phulbari is ready to go as soon as they give the green light.

Obviously there is no guarantees and your right we’re all just hoping and guessing but pulbari has been a dirty word for years with government officials scared to even mention it now at least it has been confirmed they are seriously considering it.
This is the Phulbari section from that article:
“The Phulbari conundrum

The Phulbari coal mine project has been one of the most discussed topics in the country’s energy sector for many years for the controversies surrounding it.

It has been “radioactive” since three people were killed and hundreds injured when law enforcers opened fire on a procession of locals protesting against the open-pit mining project on August 26, 2006.

Awami League, which was the opposition party at the time, supported the protesters and pledged to not open the mine if/once it comes to power. However, amid the ongoing crisis, the government is wholeheartedly considering all aspects — environmental, economic and political — and taking precautions to even discuss mining at Phulbari, said officials.

Meanwhile, multiple sources have confirmed that both local and foreign syndicates are using the energy shortage as an excuse and lobbying hard to get the government to restart the Phulbari project.

Even Asia Energy, which rechristened itself to Global Coal Management after facing mass protest in 2006-07 when it was working on implementing the project, has approached Petrobangla to get its hands again on the Phulbari coal field. The company gave a presentation at the energy division recently, highlighting the benefits, sources said.

It’s been said that the total amount of coal from the Phulbari field will be able to generate 6,600 MW of electricity for 30 years and the government will earn $7.5 billion in taxes and royalties, said sources at Petrobangla.

Talking to The Business Post, energy expert Professor Badrul Imam said that domestic coal extraction has become a highly debated issue. “We need energy but we need to protect the environment as well.

“We need to find out the right methods and technology to figure out the most feasible way to extract coal from the local fields without harming the environment while protecting the national interest,” he stressed.”

It is clear that Phulbari is definitely being discussed and has been for some months. The need to mine coal in Bangladesh is very clear and Phulbari is ready to go as soon as they give the green light.

Bangladesh is up sh@t street without a paddle pulbari is the only realistic answere to there problems , They have no funds for any other options and as far as I no ( happy to be corrected) we are the only mine with all the studies done and ready to go , I’d say we are a 5/10. A big improvement on 1/10 from last month

Sorry gooner I have to disagree the story has completely changed. The government is openly talking about mining pulbari and GCM have confirmed they are in talks with the GOB , Im thinking either the proposal is already in or they are negotiating the details of the proposal. What ever way you look at it things are certainly looking more positive.

Date Time Trade Prc Volume Buy/Sell Value
14-Sep-22 08:50:14 6.00 50,000 Sell* 3,000 O
14-Sep-22 08:49:39 5.80 1,020 Sell* 59.16 O
14-Sep-22 08:49:31 6.00 50,000 Buy* 3,000 O
14-Sep-22 08:00:28 5.95 200,000 Buy* 11.90k UT

How can the 3k buy and the 3k sell be exactly the same with a 12% spread. This won’t have a decent rise until it’s what the mm’s want. They report the buy and sell which ever way they want to keep the price where they want it. I would like to see it regulated so they had to report it accurately.

SPOT ON

The best way for tang to make money is to do a deal for ‘his’ shares to be more valuable and he can’t do that without making ours just as valuable. Also Gary Lye was the person who nearly got this approved back in 2016. I doubt he would stand buy while tang ruins all he has worked for for nearly 20 yrs.Time will tell but I have a feeling it won’t be long before we no , good or bad ,

The argument the GOB are using “open pit mining is bad for the environment “ doesn’t even make sense. where do the think the people they are buying it from get it ? Open pit mining is open pit mining Wether it be in Bangladesh or any other country. The damage to the environment is the same. The only difference is the coal being used is a far lower grade than pulbari sand is polluting the air far worst and then there is the pollution from transporting it thousands of miles. Not to mention they are bankrupting the country at the same time , It is completely corrupt and nonsensical. It now seems pulbari is being talked about in the open and is firmly back in the mix. Something has to give soon .

The experts have been disagreeing with the government for years there is nothing new there. The government of Bangladesh always do what they want they have even passed there own laws protecting them from prosecution for any wrong doing. They have openly said in quite a few links posted on here in the last month or so they need to use there own coal , I see the fact they are open to talks with GCM a positive. I think this could be the furthest down the road to approval we have ever been , looking forward to Monday for a change .

Hi Grundles, Although I am new to the board I’m not new to gcm and have been here in and out for a long time winning some and loosing others. I remember some of the £10 party gang , sadly think beeshoney has passed away. I’ve always seen this as a binary bet and still do but I honestly believe/ hope things have swung in our favour for a change, The fact is the GOB is desperate for our coal they have a new power station ready for commissioning in December with no coal to run it There foreign currency reserves are depleting fast and there is large scale unrest at price hikes and fuel costs, hasaini has said herself buying coal on the world market is to expensive and not an option. There has never been a better time to get this over the line. On top of that there own power and energy minister . The man who was behind buying in 100% imported coal is now openly saying he is advising the gov to use there own coal reserves and gcm for the first time has said they are in talks with government, This feels different to me this time.

I’m fortunate I’ve done well els were and have managed to get together a decent amount of shares , not spent as much as you. The difference is my average is only slightly above where we are now so a penny here and there is a lot to me and any significant rise will be life life changing. Nothing is guaranteed in this world. You pays your money you take your chances !! Good luck

Yes of course on the flip side if she came out tomorrow and said she will not be mining pulbari for some reason you would not be able to give your shares away, but there has been quite a few indicators lately there attitude is changing, what I meant was the risk reward here is massive and in my opinion it is unlikely you will be able to buy in if an approval rns lands. Me personally am holding tight

The only reason the share price is we’re it is is lack of confidence and lack of communication from the management. The fundamentals and the sheer amount of coal in the ground means we should be trading a lot higher and should never of been down here in the first place , I no the pandemic really hurt us on time frame with most government officials working from home and the country on lock down. I don’t no of any other penny stock with the rights to 300 billion worth of coal , or anything els for that matter , hopefully we can re-rate to a more reasonable price .

09-Sep-22 11:47:19 5.80 30 Sell* 1.74

Why would you sell 30 shares for £1.74. They probably owe the broker commission, haha

And again…higher than yesterday.

Another rise will show soon my holdings just had a jump. Someone knows something!!!!

Someone could be playing a blinder here, building a nice holding buy buying over a week or so and when the price rises they sell a few at a profit to bring it back down then go again. Either way it’s nice to see some movement after nothing for some time

If the buying continues we should end up blue again today, would be nice to go into the weekend around the 6p mark.

I’d bite your hand off for £3 right now . Even though IF we was to get approval I think that’s conservative. 1 in the hand 2 in the bush. Fingers crossed for all long time holders I also think we are going to find out befor end of March when funds run out . Good or bad ??

Don’t think there will be any leaks our side Gary lye and tang have proved over the years to be very tight lipped but if the Bangladesh politicians get a sniff of a few quid think they will be all over it myself.