George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
It looks like the Chinese are going to want to be paid in their own currency. This is sensible of them if the Taka is depreciating and that depreciation will only improve as industry capacities can be fully engaged. I hope plenty of the natives will be employed by the Chinese and they can improve their skills base and be employed at Phulbari.
The nod that matters is Phulbari but as you don't understand what subtext is, it means implied and that means Phulbari will not be discussed but does enable what is discussed. What is important is to get public finances heading in the right direction.
Where is the market for the overburden then which will make good road metal where flooding puts roads underwater and could possibly do with some?
Roads are what the Chinese are good at building and they will need somewhere to put all that overburden. The south is where Hasina is from so playing to all of the country with Phulbari and painting it all green in the process. I can't think of another project to discuss in China.
Jamesss; he won't make 'datuk' of Bangladesh aswell as Malaya if he does that, he is only 50 or 51 years old and been executive chairman for 11 years https://otp.investis.com/clients/uk/gcm_resources/rns/regulatory-story.aspx?cid=1564&newsid=750153 and is on the verge of leveraging his efforts in Malaya by using his contacts developed there and in Bangladesh over a long stint.
Bangladesh Freedom Honour is the highest award for a foreigner
Woodsmith is such a potential cash generator and have they sent a few billion on it already. It will be such an efficient low cost operation that I am sure £25/share will look cheap in two years as the Woodsmith potential comes into focus.
GCM's SoD does not call for any funds from Bangladesh and relocation of locals will be an immediate injection of cash so what are Nasrul and the Sheikh waiting for; they are just totally disconnected with the imperatives of a solution and more concerned with ensuring their begging bowl is filled.
Clear Capital and Axis clients holding such a big slug could have instructions with their broker to play the market which is easily done I would have thought if volume is low enough and there are traders about and the MMs use their arts. If they are in the know which some of them must be imo, then of course it is market abuse but tolerable if approval is assured.
It sounds like the application for approval meeting with the ministry/Hasina will be made by the committee members who are getting down to the detail. This means the Government take all the plaudits which is OK with me, I like GCM in the background.