The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Democracy has been exercised and new government installed- I hope it will not be blown like a reed with protests and instead get on with actioning Fulbari OPM. I note from Wiki that: " Fulbari is an important business centre. Its importance grew significantly with the development of the Barapukuria coal mine " and the residents should appreciate they must move if necessary.
Best wishes to Bangladesh.
Jamesss; 'Mr. Tang qualified as a barrister at Lincoln's Inn and holds a Bachelor of Laws degree from the London School of Economics and Political Science. ' https://www.gcmplc.com/corporate/directors-biographies . Rather than being a crook he is probably a trained corporate lawyer and focuses on manipulating events legally. I do hope our PI interests will align with his profit goals and retaining a quote will help with good practice and accountability for the locals. China are evident exploiters and he would do well to build a reputation for his own good works and beware of China's silk road ambitions to support their domestic mismanagement.
Recent article because Energy Minister is for it now; "State Minister for Energy and Mineral Resources Nasrul Hamid said that coal mining will be done by
ensuring underground water management. Rehabilitation and employment of the locals will also be
ensured. He said that if there is a coal mine in that region, crop production will decrease by BDT 5
thousand crore annually. On the contrary, coal worth about BDT 70 thousand crore will have to be
imported in the future."
Jamesss, that was more balanced from you; PIs had almost given up hope here and most of the recent buying could be them moving back in with the new climate in Bangladesh.
what looks to be forthcoming government proposals which will have to be with GCM, I would suggest,at least initially, but your warnings are valid for setting against the current PI positivity though but one has to hope we will not be shafted and the nomad is not being arm twisted to get legalities in place for going private though nothing is impossible with our current bad governance in the market.
GCM has the licence to mine and a share of it can be traded for government deals on remuneration and with Power China to build. GCM have provided the route to a successful operating mine with a Scheme of Development under licence. They have worked on it for a good few years and honed it to perfection for the benefit of Bangladesh. Pig-headed politics and general animosity and misunderstanding has prevented progress but the asset has not disappeared into thin air.
"rns from 8/06 29 Aug 2006 08:50
Asia Energy PLC29 August 2006 Asia Energy PLC says development of its Phulbari Coal Project remains on course Dhaka, 29 August 2006 - Asia Energy PLC ('Asia Energy', 'the company') said today preparations for its Phulbari Coal Project in Northwest Bangladesh would continue in the aftermath of last weekend's violent protests. "We are continuing to work positively with the Government of Bangladesh to make this project a success," said Asia Energy Chief Executive Steve Bywater. "The Government has assured us that it remains committed to the project." The next steps in the process are the adoption of the Government's proposed new Coal Policy and finalisation of its contract with Asia Energy, leading to approval of the Scheme of Development for the mine. The company has temporarily suspended its field operations in and aroundPhulbari, but remains in close communication with both central and local Government authorities. Ends For further information: Stephen Bywater Chief Executive Tel: 020 7290 1630 Graham Taggart Finance Director Tel: 020 7290 1630 Cathy Malins or Annabel Leather Parkgreen Communications Tel: 020 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange."
8/3/24: I believe and hope the board will be beefed up shortly with members who are familiar with Bangladesh institutions and people and if this happens it might shut you up as indicating the project progresses.
Bought some more today aswell as participating last night. Harry Anagnostaras-Adams (Executive Chairman) has done well to galvanise business in Ethiopia, they certainly need the money. Good ore grades. He could get a quick sale to a larger outfit once finance secured.
Our Datuk in Malaysia, the CEO Tang dealt with the same situation in Malaya.
https://www.globaltimes.cn/page/202308/1296480.shtml