Member Info for ICB888

Now Up 5% at 13.25 so looking good for your close above 13.09.

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.

Seingred the serial deramper can’t ever give it a rest and has returned with another of his pompous, rambling monologues.
The usual negativity to assist his trading but it will probably be alright in the end, straight out of the derampers play book.
But you don’t want that sitting there all day, so let’s remind ourselves of the Highlights of the BFS we have waited so long for:
Highlights: Feasibility Study La India Open Pit only

The 2022 FS demonstrates a robust and economically viable base case for the La India open pit:

· Probable Mineral Reserve of 7.3Mt at 2.56g/t gold for 602,000 oz gold

· Production averages 81,545 oz gold per annum for the first 6 years of an 8.4 year mine life

· An Internal Rate of Return ("IRR") of 23% and a post tax, post upfront capital cost NPV of US$86.9 million using a discount rate of 5% and price of US$1,600 oz gold (Mineral Reserve Case).

· An Internal Rate of Return ("IRR") of 43% and a post tax, post upfront capital cost NPV of US$205.2 million using a discount rate of 5% and price of US$2,000 oz gold.

· Low initial capital requirement of US$105.5 million (including contingency and EPCM contract)

· Low average Life of Mine All-in Sustaining cash costs US$1,039 per oz gold

This mornings 8% rise has taken us back to 50p and Number 16 on the Leaderboard. We just need good news on Thacker Pass and this will fly.

The rise continues Up 2.8% on volume of 285000 all buys . This is looking promising that a rerate is underway, which would be most welcome.

The Beaver Creek event starts today and runs to 16th. This is followed by Gold Forums America on 18th to 21st September.
I speculated a little while ago that the BFS would be issued prior to these events as Mark would obviously want to present the good news. I am slightly surprised that we haven’t had a Proactive interview but perhaps that’s because Mark is in transit to Beaver Creek. The presentations in America add weight to the idea that Mark wants to flush out some bids and I am entirely happy with that.

I don’t like jam whether it’s today or tomorrow
You just sound like the very bad and sad deramper that you are. It’s getting very boring and I imagine you have been filtered by many. In the unlikely event that you hold any shares in CHAR I suggest you sell them and spend the money on jan today.

We are expecting news in mid September as per the RNS on 1st September:
“ The seismic data required to evaluate the drilling location of the Chikumbi-1 ("CH-1") well is expected by mid-September 2022.”

GCM finished Up 4.5% at 7p on volume of 2.8 million. It has held the large gains made on Thursday and Friday and a day of consolidation around 7p is very healthy. The market cap is still under £10 million which is very low for a company that on the green light being given has the potential to be a £1 billion+ company. The world has changed and Bangladesh is is a very bad place regarding its energy and that has fed through to its economy. The coal at Phulbari whether they use it themselves or sell it is probably one of the country’s most valuable assets. Politically and Economically it is imperative for Hasina to approve Phulbari immediately as this energy problem will last for many years. Let’s hope the discussions with the Government of Bangladesh result in the news we want in the very near future.

So we did move Up into the close just as we did on Friday. 8% on Friday followed by 7.45% today is a decent rise from our early September lows. Let us hope that confidence about good news arriving soon is re entering the market. In April we rose very quickly from 11 to 17 and there is no obvious reason why we shouldn’t repeat that or better it on the next news.

This statement that the sp has not moved for months also propagated by kingbilly on a regular basis is not entirely accurate. Prior to the last placing CHAR traded at upto 23.90. The placing and open offer then caused the sp to fall over time and as nearly always happens with a placing the sp finds it way down to the placing price. Since the placing the sp has been as low as 17.30 before working it’s way through the churn, such that it is now just under 20p, which is in the middle of that range 23.9 to 17.30. Plenty of opportunity for the traders to make a regular turn as it churns in app spread.
We should soon start to move through 20p as the market anticipates the next news which could land any day now.

Currently Up 5.3% at 12.375. The last 3 trades have been buys at full offer of 12.5 so perhaps a final uptick before the close.

Up a full 3p on the day now at 28.75p as volume passes 1 million. Prices being paid now are 29p which is full offer and so one might expect a further tick up.I imagine we should get an interview later from Mark in Nicaragua.

I agree the very low capex requirements and rapid pay back make this very attractive. Currently Up 7.8% on volume of 600000.

Good to see a 3.2% rise this morning following the 8% rise on Friday. Perhaps the market is starting to realise this has drifted down too much and that news can’t be far away to move it up to previous highs and beyond.

Just shaking out a few sells to fuel the next leg up.

Yes Barnard good to note gold at 1724 as the BFS has used 1600, so the figures in the BFS would be improved straight away. It is widely predicted that by the time we are producing gold will be above 2000 which would seriously increase the already impressive profit forecasts.

Moving quickly now up 13.4% at 7.6p on volume of 271000.

Up from the opening straw through 7p. Currently Up 7.5% on volume of 121000.

Condor Announces Feasibility Study For La India Open Pit.



Condor Gold (AIM: CNR; TSX: COG) is pleased to announce the results and details of a Feasibility Study, sometimes referred to as a Bankable Feasibility Study ("2022 FS") on the La India open pit. The 2022 FS supports a Probable Mineral Reserve of 7.3Mt at 2.56g/t gold for 602,000 oz gold and a mine with an Internal Rate of Return ("IRR") of 23% and a post tax and post upfront capital cost net present value ("NPV") of US$86.9 million using a discount rate of 5% and price of US$1,600/oz gold. The 2022 FS brings the level of confidence for the Project to the industry standard of engineering design, sufficient to support +/- 15% capital and operating cost estimates.



The economic analysis in the 2022 FS (including IRR and NPV estimates) is based on the La India open pit only and does not include the Mineral Resources at the Mestiza, America, Central Breccia or El Cacao potential extractable as open pits or the Underground Mineral Resources at the La India, Mestiza, America, El Cacao, San Lucas or Cristalito-Tatescame vein sets. Condor believes there is high degree of certainty that additional open pit and underground Mineral Resources can be converted to Mineral Reserves and added to the mine plan through further studies.