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It looks that way, Tang has really just waited for the right time to propose ,right people,covered all objections ,even got the highest official for clean energy ,talking sense and reason as to why this needs to happen now, the pressure will be huge, with our partners & our solution to there saga, gotta be in coming mths i would have thought ,so long as the news flow is reported ,we should/could climb very quickly , the company are dreadful at promotion, i hope they can rethink there game here, i know two of our directors think the same,, its about time this woke up
Now the question is whether we need local coal or not. What is stated here, will we leave our coal resource of 300 billion dollars’ worth, equivalent to the national budget beneath the ground? Then comes the question of extraction. We need to make the right balance of fuel mix and if we do that and bring the share of coal-based power even down from 35% to 25%, still we need to extract our local coal. Because here the question comes how much coal will be required to feed 25% of coal-based power and whether we can transport this huge amount of coal. It is often discussed about carbon neutral situation. That means, the amount of carbon is being released is absorbed by the natural environment. There are technologies to achieve this. We would also be carbon neutral and at the same time will make the right fuel mix.
We are talking about 100 special economic zones. If we cannot ensure energy and water at an affordable and competitive price, we would not be able to attract investment.
Power generation has been increased significantly, from 5,000MW to 20,000MW since 2009. We need to generate 40,000 to 60,000MW in the future. And it cannot be achieved without coal. The USA plans to be carbon neutral by 2035; does it mean they will move completely away from coal? Not that at all. Therefore, we must go for the right fuel mix eyeing on coal.
Once the rump of shares have cleared, & news like this filters through,
Abdul Kalam Azad is extremely important and influential his roles past & present , (Chief Guest at the reported Webinar discussion) who was Bangladesh’s former Power Secretary, then Prime Minister’s Principal Secretary, then Prime Minister’s Principal Coordinator Sustainable Development Goals and more recently appointed as Bangladesh’s Special Envoy of Bangladesh CVF (Climate Vulnerable Forum) Presidency,
Massive news, and the right people talking sense,
Energy experts have underscored the need for taking a political decision as soon as possible on extraction and utilization of domestic coal to get electricity at an affordable price. In a recent webinar, they argued that there is no alternative to set a right kind of fuel mix and diversified sources of energy to get an affordable and sustainable power system. In this case, the huge reserve of high-quality domestic coal should not be ignored. The country cannot afford to leave unexplored such a huge asset worth US$ 300 billion.
Energy & Power magazine in collaboration with M2K Technology and Trading organized the discussion on “Future of Coal Power in Bangladesh” on April 11 as part of its series titled “EP Talks”. EP Editor Mollah Amzad Hossain moderated the webinar.
Mr. Abul Kalam Azad, former Principal Secretary and special envoy to Climate Vulnerable Presidency, was present as the chief guest and Dr. Ahsan H Mansur, Executive Director, Policy Research Institute (PRI) of Bangladesh was present as the special guest of the virtual program.
Eng. Belayet Hossain, Chairman of BPDB, Nurul Alam, Additional Secretary of Power Division and others participated in the discussion. International energy expert Engr. Khondkar Abdus Saleque presented the keynote paper.
Abul Kalam Azad, former Principal Secretary and former Power Secretary, said the question is whether we need coal-based power generation and if we do, whether we should use local coal and what should be the share in the power generation mix. And what are the challenges involved with the coal-based power? Whether local coal to be extracted or not. The logic against coal uses is it causes carbon emission. How much contribution do we have to carbon emission? Out of total global emission, our contribution is only 1/1000; 0.33%. If we set up 5-7 more coal-based power plants, the contribution to global carbon emission will be very negligible; the emission reduction effort will also have negligible impacts. Where China, the USA, India, Japan, and Brazil are making a huge amount of carbon emission, then Bangladesh’s contribution does not make any impact on the global carbon emission level.
It would not be wise to be dependent on a single fuel for power generation. We have to make the right mix of fuel. Power has to be made available at affordable costs and there needs to be competitiveness. If underground mining of coal costs US$160 per tonne and if import cost is lower, then why we will go for mining. But if we go for open-cut mining, the costs will be much lower and there is the opportunity for open-cut mining here. The responsibility of technical persons and bureaucrats is to place logical information before political leaders in a simple way for their understanding. So far, we have failed to convince the political leaders. So, we must speak in the language that is
i agree,all the news is bullish, all the shares taken up, polo happy to keep feeding us, the price drop is the market getting to offer price, i feel more bullish than ever with directors re joining us too,GL All its about time we got a pay day
‘If present trend continues, Bangladesh will have to spend $20 billion annually by 2030’
Energy experts at a webinar in Dhaka expressed frustration over the government’s unwillingness on hydrocarbon exploration in the country and the growing dependence on gas import to meet domestic demand.
“It is really unfortunate that several years have elapsed since the maritime boundary disputes with neighbours have been resolved, but there has been no move for gas exploration within our territories,” said M Muktadir Ali, former chairman of Petrobangla.
He said Bapex would not be able to keep its efficient manpower until its salary-structure is not upgraded in view of the international oil-gas exploration company.
“But unfortunately, that is not happening”, he said adding the government is increasing gas import.
Dr Badrul Imam said there is a tendency in Petrobangla, the state-owned hydrocarbon corporation, not to share its data with others and keep that in its office lockers.
Dr Rashed Al Mamun Titumir said the country needs to create energy economists and take decisions on the energy sector on the basis of their analyses.
Agree if any thing its bullish ,from the point we appointed new broker at a time with little in reserves every opportunity to delist we did not, reappointment of old directors one a CFO , So now the market should be kept in line with new news & development, G,L All
it was close a given even 15 yrs ago when trading £8/9,,
no what i mean is of course perceived,
but the bottom line i see many reasons to stay even buy more,
you dont seem to be abled to0, so then its a sell ,its a gamble all miners are,
thats the piont it has been really close for years i would guess different objections being met pre proposal why on earh would they just propose deal until they have met all objections they know will arise,
also do you not think Tang our advisers are much wiser with when and how to propose ?, is my thinking could be wrong ,but if i felt different i would sell now or on next spike ,
many other people here are completely clueless & just see SP up & down so i just ignore them & block them
Could not agree more jimmy, Whats not to like from here? be it just a trade or an investment , with last RNS,s, the ducks are lined up GCM are not going blind and have been closer over the last years than many realise, its all about out come for biggest holders Tang,Dyani,PC,ETC, no one gets a pay day unless this gets sold or GL, still non of big holders have sold any, our nomad would have done DD so feel easy that every thing is in place no underhandedness , the biggest problem is we are really an asian company where as before Tang we were British,so the market is not fed news as before, this could easy be 40p or a pound, then people presume its better because its more expensive ,Tang payed 40p P/S, it is all but done on paper with our partners financing ,with us changing from a simple foreign miner exporting coal and there resource , to the only real solution in providing the cheapest electric possible @ sustainable prices & creating wealth and business for all in Bangla, from where im sitting its becoming more an issue not to implement it, than to implement it, Tang has engineered this, i know our British directors want this to be pushed more to , interviews etc, and now i believe that will start to happen, GL All , GCM IS dirt cheap at todays prices ,and it reflects only that the market is misinformed ,rather than right,
Would be between 5 &7 oo million. That alone would give us a 5.. the valuations have all missed the fack coal is more than x2 the price it was in 2007/6.. and of course the massive growth of all buisness linked to this area.and bangla as a whoile. My guess is closer to £5 with GL.
where have you been sent from ?,
completely wrong we have the biggest in China on board, and the ADB will invest but at desecration ,
Also how hard would it be to raise funds on on Dhaka,or any exchange for that matter ,with backing from the country ,
My thoughts Tang would not waste a second OR ANOTHER PENNY, if this was dead in the water,, every time we need funds he gets it from friends polo etc, he only ever takes what he needs, to my mind extremely positive when we relist, i have not really been tuned in i have much on my mind , but look again from a positive everyone is payed in shares our PR bangla based, PC and our other partners all happy to work for shares & they will know much more than anyone here ,my timing has been hopeless here, along with badly managed to lose broker with out having replacement in place, we really could have done with out, a new broker is needed to keep market informed and will bring new clients , GL All its still going to have a happy ending IMHO
All to play for no selling ,on the sly,, the good news should reflect along with power china recent news
The purpose of the Relationship Agreement is to ensure that the Company is capable of carrying on, at all times, its business independently of Polo.
The Relationship Agreement has a minimum term of one year from the execution date, and thereafter will terminate if the ordinary shares of the Company cease to be admitted to trading on AIM or Polo ceases to retain an aggregate interest of 25 per cent or more of the issued ordinary share capital of the Company.
Drawdown on Polo Loan Facility
The Company confirms in relation to the Loan Facility with Polo announced on 3 February 2020, it has today drawn down a further £250,000 in accordance with the terms announced thereon. The Company has utilised currently £3.2million of the £3.5million facility. This current drawdown along with existing cash balances will be sufficient to fund the Company for a further 3 months.