Member Info for jollychippy

TBH, I thought recently that we may get an offer before full permission is granted, whether that negotiated or hostile , as that may be for around £500m, considering the scale of the project, potential buyers would be greedy and not want to pay a fair valuation. I thought following receiving the permission the valuation would be 4-5 times that figure.

Just a thought though

Of the $2 billion, $1 billion will go towards clearing dues of Indias Adani Power and Chevr on, which is producing gas from Bibiyana, the major gas field in Bangladesh. PDB owes Adani $700 million and Chevron $300 million. The rest of the amount will be used to pay the bills of fuel oils, liquefied natural gas and coal for power generation.

https://www.observerbd.com/news.php?id=467914

More news, similar story.

The pressure is building

“The promised increase in production capacity has not materialised, leaving people frustrated”.

“Urgent action is necessary to address systemic issues and ensure long-term sustainability as the nation struggles with its ongoing power crisis”

https://bangladeshpost.net/posts/power-outage-acute-in-rural-areas-135338

Excellent find Searcher,

Possibly one of the best articles pushing to utilise their own Coal in recent times

“Foreign-funded megaprojects emerge as a new tool for capital formation and its flight overseas, a policy think-tank Thursday presented such a view in the context of Bangladesh's external debt build up”

https://thefinancialexpress.com.bd/economy/megaprojects-new-means-of-capital-formation-fund-flight

More Energy Issues

"Lights are dimming for industries due to the dollar and power crisis. Give us an exit policy”

https://www.tbsnews.net/economy/businesses-seek-easy-exit-policy-amid-acute-energy-dollar-lending-rate-crises-823036

Mr Professional,

Your post earlier:

The Company advises that working under the coal mine development MOU with Power Construction Corporation of China, Ltd. ("PowerChina") (refer to RNS of 28 November 2023), it has signed a contract with PowerChina International Group Limited

The Power China in brackets is just short for their full title . I’m sure you already know this, yet you just keep on trying to antagonise people. Despite your best efforts most LTH will continue to hold their stake as will I,

What’s your Interest in this “tiny company that has now money or future in your opinion”

Are you getting paid to make trouble?

Just a lonely Key board warrior?

It’s really becoming tiresome to see how much time and effort you put into this BB- For what ?

Not directly to energy, but a home truth in the report

It is a matter of great concern that Bangladesh has failed to attract its targeted level of foreign direct investment over the years, with FDI inflow amounting to only 0.75 percent of its GDP in 2023, according to UNCTAD's World Investment Report. Efforts to attract foreign investors by developing economic zones and adopting one-stop services have not yielded the desired results, begging the question: what is the country doing wrong? A recent report by the US administration has identified precisely what's holding us back—corruption, bureaucracy, anti-competitive procurement system, and violation of intellectual property rights

https://www.thedailystar.net/opinion/editorial/news/whats-discouraging-our-foreign-investors-3579666

Just for an example, I work in construction, we trialled an Electric 30ton 360 excavator a few months ago. (Hitachi I think) it worked well for 2.5 hours, then needed 16hrs to charge up again. Not very practical on an open construction site

Appreciate the effort Stargate, but means zero to me 😂

I find the following an interesting part of the RNS on 11/03, these companies expressions of interest ( I’m thinking they have been advised to make enquiries for the coal) and sure they will know more than Us.

Coal Supply Expressions of Interest:

The Company has received Expressions of Interest to purchase Phulbari's coal from both of Bangladesh's current Independent Power Producers, being SS Power Limited that operates the 1,320MW Banshkhali power plant and Barisal Electric Power Company that operates a 350MW unit at Barisal (with plans to add an additional unit). These represent some 27% of the present market.

Sorry Red

See extract from 11/03/24 RNS

The Mine Construction Contract duration is four years, with overburden removal to expose first coal taking some two years. The Company and PowerChina expect to enter additional contracts covering coal extraction and associated activities to support ongoing open pit mining operations and the Project's commitment to deliver high quality coal supporting at least 6,600MW power generation for over 30 years. A joint proposal with development partner, PowerChina, will shortly be presented to the newly elected Bangladesh Government.

And another 188k showed up, they just keep on coming 😊

300k late reported trade from this morning has shown up

😂 you’re good, but not quite carling

They can do a fund raise, I would stump up £300k for some discounted share 😂

To be broadcasted on Tv and radio stations according to the link below

Whilst we wait patiently for news of our black gold,

Patience is a virtue as we are frequently told.

After a great update on Monday last,

Flying in to double figures ten and past.

For whatever reason our steam has ran out,

We have sunk back down “Why we shout”

We await confirmation of new members to our team,

Long overdue we feel- we hope they are the cream.

Hasina we cry, give us the green light,

This is the news, we would scream with delight.

Phulbari is blessed with black gold in great stores,

It will help out your country if there’s no pause.

Our partners power china ready to splash the cash,

Solve all your problems in one go. Let’s have a bash.

Some mentioned the idea of Bangla possibly building a stake here as it’s obvious that someone is.

What the chances of it being Our Chinese partners?

As the are stumping up $1 billion to fund the mine construction and getting a 20% stake in the mine, in theory they could stump up $2.5 billion and take 100% of the project, mopping up as many cheap shares as the can before a buyout. It’s just a thought. I have been looking through the early MOUs to see if there is any mention of them agreeing not to buy our shares, and I cannot see anything preventing them doing so.

Regards JC

Not heard or seen that name anywhere before