Member Info for KissnCuddles

Oiltdr

Are you saying the Anchois development plan is being delayed because of the CHAR demerger? How has one got to do with the other? Surely OHYM don't need the demerger to happen for them to decide on the new development.

Very well written article. Balanced, thoughtful and pragmatic. I’m not sure what was flawed about the original deal, and what needs to be changed, but it reads like Phulbari just needs to be exploited. All I want is what’s fairly owed to GCM for getting Phulbari shovel ready for the next government.

My thoughts on a buyout could include OC buying us out as part of the $15bn mining contract. Like, $100m-$500m of the $15bn includes an all share purchase of GCM AND the CAPEX to get Phulbari operational. That way Bangla can point to the deal as FID (China funding a business in Bangladesh) which would be true of course. And the deal could even provide a free carry % to Bangla.

Rigas the CEO of Energean sitting beside the head of ONHYM at the MSGBC Oils, Gas and Power conference in Dakar to discuss new development opportunities. Is Energean interested in Morocco once more? What does this mean for Char?

https://www.linkedin.com/feed/update/activity:7403847283663994880

Aimtodeath

I agree with your points. Bangla want to attract FID. It’s what the country needs right now. And given that a complete buyout would come with its own set of difficulties I’m now of the opinion that a small cash consideration in exchange for a large stake, leaving GCM with a minor yet valuable stake, is the most likely way forward.

For us shareholders I think it would be a fantastic outcome. The SP would see a sustained rise up to the fair value of our % ownership of a multi $$$bn operation which would provide substantial fcf and dividends.

Thinking . . .

Maybe a complete buyout wouldn’t be politically palatable. It’d be a case of ‘the first money spent on Phulbari goes to a foreign owned company’ with all the negative political fallout that would follow.

Perhaps GCM will instead be offered a small cash consideration in turn for a +90% stake in the project by PC, leaving us with a small yet valuable stake as a silent minority partner. PC would then sell some its stake to the Bangla authorities for obvious reasons.

It’s all coming together

Sounds more and more like this interim government will give the GL to make it easier for the incoming government to claim Phulbari is a fait accompli, nothing we can do to stop it, and sure anyway it’s good for the country . . . and will ensure the realizations of Teesta.

Showme

Agree. We are effectively the facilitator and middleman. We are due a ‘finder fee’ equal to back costs and a premium, which I’d estimate c.30p per share on current no. of outstanding shares.

Of course I’d love it if we managed to retain a minority stake in the operation. Even at 5% the GCM SP would rise considerably and sustain itself over the long term. But I just don’t see it happening.

GP, please explain? You think GCM is being prepped for a buyout?

Anyone want to guess why the SP isn't increasing on the expectation that this new energy policy will include own-coal extraction?

I would have thought we'd be +10p by now.

Ah yes, the breakeven party is back!

Kinda agree, even if I don’t want to. Power China will make us an offer we can’t refuse so to speak. The next RNS could well be an all share cash buyout of $100m

Marland

Bravo!

Good point Digit.

This debacle makes opm look like the better option. I’d be amazed now if we don’t get the GL. Just wondering how high the SP will rise and how GCM will evolve when the operation finally kicks off.

All these videos! Something’s cooking for sure.

Imagine the next RNS is to notify us shareholders of a rejected all share buyout offer of 20p a share, claiming that we are worth a lot more than that!?

That's my assumption too, Digit. The parties will view coal extraction a national priority, above politics. It'll be included as a vital component of the energy master plan and ALL politicians will point to it as a foregone conclusion; unavoidable, essential and completely beyond their power to prevent it from happening.

If it's a 4-month contract (with possibility to be extended) and must have security clearance it sounds like MoD have asked us to prepare a demo according to their requirements, and if they like it they'll sign a definitive contract with us?

Digit

It doesn’t specifically mention Phulbari. Or am I missing something?

COP is such a waste of human effort. Nothing more than a money pit for NGOs and politicians.