Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Looks like this is gearing up for the CPR which should be out in the next week or so given that it is due before the Wick results!
The CPR alone could double the SP if not more!
If all they have done is stop a few investors from attending the company AGM then although it is very annoying to the shareholders, it is a minor inconvenience in the great scheme of things.
The JVA will still happen and Phulbari Coal is now closer to being given the green light then it has ever been! The protestors should really have focused their efforts on working with GCM to get the best deal for locals rather trying to impede their improvement and better their quality of life. I wonder how many of this mob had links with our friend Anu(s)?
Yes, I can’t wait for the people of Bangladesh and Phulbari to enjoy the same modern day luxuries and comforts that these protestors do!
Yes to GCM!
Other than an inconvenience, it doesn’t seem like the protesters have disrupted the normal order of business.
Now back to business and the deal with the Chinese.
Sounds like a bit of a rent a crowd. Similar to the swampies that UK on shore oil companies seem to attract.
Yep. Buyers coming back.
Let’s get it right. Seems like a few thousand sells compared to large buys earlier.
Laughable.
Not sure what UK MPs can do...this is a matter for Bangladesh and China. UK MPs can’t even sort their own affairs out and will be preoccupied with Brexit and a General Election. This type of posting is desperation at its worst.
If you look on Twitter there are no more than 20 protestors. Most of them are white and don’t seem like they are from Bangladesh or have relations there (not that it matters but the point being that not many Bangladeshis there speaks volumes). If this is the best they could muster then it is a bit pathetic.
Yes, I think profit is there too...; )
Yes. I would call the police.
Hopefully we will see the next leg up shortly
If the buying continues at this pace I think we could have a strong close.
It’s funny how these rules seems to be enforced though. Take share talk for example - this poster / organisation seem to be allowed to post links to their website all the time. There are numerous other posters that seem to get away with posting links too.
If the rules are going to be applied they should be enforced for all.
Anyone going??
Will try my best to make it.
Perhaps not directly but I believe they have been speaking to relevant officials in her government and a change in administration would effectively put them back at square one hence why a Hasina election win can only be a positive.
Hasina is a known entity. China / GCM have been dealing with her in the past and have fostered relationships. Her continued leadership in Bangladesh will provide the assurance needed for both China and GCM that these relations can be further built upon and progressed.
Don’t think we will get any statement before the AGM. However, the AGM will give the chance to question the BOD and Tang and get a better feeling as to when the expect the JDA to be concluded and what might have caused the delay...do the Chinese want a bigger stake or the whole shabang!
Repost of something that was posted by someone earlier this year.
1. GCM hold the licence to explore the Phulbari coal mine
2. GCM hold data regarding the geographic extent and quality of the coal
3. Phulbari is the only economically viable mine in Bangladesh
4. Bangladesh needs Phulbari coal to transform it into a middle income country
5. The Chinese have a foothold in Bangladesh and a desire to createca JV with GCM
6. The JDA details are expected to be completed very soon
7. Tang has declared his intention to exploit the Phulbari coal resource
8. Bangladesh is building coal fired power stations that have no established coal supply
9. Free float of shares limited, total approx 100 million
10 Resource worth 50 billion
11. GCM have a state owned Chinese company taking a stake
12. Bangladesh will not want to upset Chinese otherwise it could jeopardise other investment projects
After a number of years it feels like this will finally get the go ahead in the coming months...it was valued at £26 a share based on 40 million shares in issue 10 years ago and at much cheaper coal prices!
At these prices this offers great risk and reward!
MMs did their best to take this down early doors but it was difficult to buy in volume at 23-24p.
This has now bounced back up nicely with some very strong buying and nice volume to boot! The delay has provided an opportunity but I don’t think the delay will be for more than a week or two at most and we can get more clarity at the AGM this Friday. There will be a strong few months from GCM and this has been £3+ on news of far less significance!
Good luck all!!
True, but over the last 10 years I don’t think we’ve ever been in a position where:
1. GCM have had Chinese (state owned!) backing and involvement
2. Chinese have become integral to the investment, improvement and growth of Bangladesh
Over the last 10 years GCM have worked hard to get locals to see the benefits of the project and OECD have exonerated GCM if any wrongdoing. GCM was £3+ on far less new!