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AAnu M shooting himself in the foot with the next paragraph after complaining about pressure to develop Phulbari by then ckmplaining that the same international organisations ( World bank, IMF and ADB ) discourage domestic solutions and encourage imports. He can't have it both ways.

The main encouraging takeaway from.such articles is there must be talk of a change in energy policy if Anu has to again attack the idea of domestic coal production at Phulbari.

Spights, I agree that lack of communication from Polo is unprofessional but I see GCM as an option play. There is a chance that they choose not to use their large coal reserves at Phulbari but in the face of a shortage of hard currency and electricity outages it is logical that the government reappraises their catastrophic decision of 10 years ago not to build a brand new power station at Phulbari running on cheap domestic coal, simultaneously minimising transport costs and CO2 emissions. If I were responsible for Power generation then I would want to get my hands on the Phulbari deposit rapidly. Therefore I would 1) get Hasina to announce that she is not interested in encroaching on agricultural land for any project, solar or otherwise to make shareholders in GCM despair. Then 2) hammer out some agreement/price with the main stakeholders before 3) the green light is finally given. I think we have finished stage 1 and about to start stage 2. If it was difficult holding while the price has fallen month by month then it will be even more difficult holding if the price starts rising month by month. I don't imagine we mushrooms would be privy to any discussions so the only clue that they are taking place will be a rising price. So, yes, in the sense that we are unlikely to be informed of anything until the agreement has been hammered out behind closed doors then I agree with your statement "things are not right with this company".

Even if she gave the green light today there would be a significant delay before coal is produced plus she would be admitting that she should have given the go ahead at least 10 years ago. So now instead of a new power plant at Phulbari running on cheap coal not subject to the vagaries of international markets and protecting the country from outages she, Anu and others have to defend the indefensible. Nicola Sturgeon was trying to defend the indefensible and we know how that turned out.

Anu Mohammed suggesting that Phulbari would have made the situation worse is clearly wrong given T154 per kWh diesel generators are being used and scarce government money is used to prop up Indian shipping companies and stranded Australian mines. So the question is why has Anu raised such a false argument now. There must be talk of finding a solution to the energy crisis and no option (even Phulbari) is off the table.

If the Bangladesh government is wondering where they might get their hands on the $3.2billion dollars needed per year to pay for Adani's low calorie high transport cost coal then maybe they could sell their own Phulbari coal on the international markets for $400 per tonne. That way they could use 8million tonnes per year to generate hard currency and a further 8 million tonnes to run Phulbaris own power station at a reduced rate and stay true to Adani's infamous contract rescueing stranded coal at the expense of the Bangladeshi people.

So the only beneficiary is Adani, neither India or Bangladesh would otherwise benefit from this contract. The Bangladesh electorate must be wondering who signed such a contract that left them paying three times the going rate for electricity. Time for a rethink of how to obtain cheap energy, A perfect storm culminating in a fresh look at GCM's proposal?

Great article

Agreed, the Bangla press should be all over this Adani secret contract story but GCM themselves do not have to sign a contract if it is unreasonable. It would seem there is now a formula available given that the Bangladesh Power Development Board has already used the average of Indonesian and Newcastle prices in a previous contract. If GCM and Power China make too much profit then the government can slap them with a windfall tax like the UK did in the North Sea so yes, govenments always have companies over a barrel.

Yes, surrounded by street protests, power outages, factories and power stations remaining idle, admission in the media of secret, unfair contracts to import low calorific value high transport cost coal you would think it would be the time to pick up the phone and ask GCM to come around for tea.

The article indicates that the lady at the top keeps returning to the same argument of not encroaching on arable land - why? It is obvious to the outsider that if you earn billions in tax revenues from a project then you can use some of those funds to import some rice or whatever on a much larger scale than the project land could have ever produced. In addition the land is ultimately returned to arable use once the government has received billions of tax revenue over decades from the open pit mine. So why keep using this nonsense argument? Is it because the electorate believe it or is it because its the best argument she can find to shore up a defence of a misguided approach to energy security?

An RNS says 3 assays pending in the Northern target area and 1 in the main magnetic anomoly. A later presentation says no further test results are expected. Did RP lose the cores or tamper with them too much causing the assay specialists to refuse to vouch for their authenticity? I don't suppose we mushrooms will ever be told the truth about what happened to the missing 4 assays. Too much deflection in the presentation about RTZ or magic stone circles, interesting but not the main point of the presentation which should have been about the known assays and the 4 missing assays. So now we have to wait for another drilling campaign based on the MT survey. Surprising the director of a mining company didn't have enough of a technical background to explain the simple link between electromagnetic waves and conductivity. Back to waiting.

How interesting, the government waiving taxes to encourage the development of coal fired power stations.

Well that seems a reasonable deal, import electricity from a new dedicated plant in india, build transmission lines from the border, pay to import the coal to generate the electricity in India even if sometimes greater volumes of lower calorific value coal are used, pay to transport the coal by lorry over thousands of miles across India. Such a complex project rather than build a power station at the mine mouth of your own coal mine in your own country where calorific values are guaranteed, labour costs are low and will stimulate the local economy, transport costs are irrelevant and so the carbon footprint is less. Who signed this expensive contract with Adani Power, surely not the same politicians that have been slow to approve the significantly cheaper Phulbari project? Why might they have selected the more expensive option?

Well that Energy Insight article December 18th is just plain wrong and clearly is trying to mislead.

1) "Renewables are the cheapest way of generating new power for two-thirds of the World's population" Just plain wrong, the big problem with oil is that it is so cheap and so makes investment in renewables uncompetitive without government subsidy. Hopefully this will change in the future with the price of solar panels falling but we are not there yet. We have a long transition period ahead of us where we need to invest in renewables but we will also need to ensure energy security by continuing to use fossil fuels.

2) "In many car markets, new electric vehicles already cost less to own and run than their combustion powered alternatives". Does the author know the price of a Toyota Prius? Only the middle classes can afford to buy electric vehicles and knowingly pay more because they feel they are making a contribution to the environment. There is the further problem that electricity is still mainly brown, more of it is produced from fossil fuel power stations than from renewables. Once you take into account distribution losses over a national grid and conversion losses then it can be argued that running an old diesel car is more environmentally friendly than buying a brand new Prius which needs a massive carbon footprint just to dig out the minerals (e.g.Lithium) from the ground in order to manufacture it. Hybrid cars are the only ones that might be making a contribution to the environment at present and aren't cheap.

There is so much misinformation out there it is difficult for governments to make sensible decisions but the recent tightening of the LNG market by wealthy countries buying up all future deliveries should focus poorer country's governments minds on the need for energy security as a minimum.

That's the best news for a long time, a coal field that has been mothballed after the government pivoted towards LNG imports has suddenly been given the green light to start lifting coal in the face of a shortage of LNG supplies. With resources of 90m tonnes it is likely to be realised that long term energy security is only going to be achieved if another coalfield with resources of 572m tonnes is also given the green light. The shareprice has not reflected this story yet.

Topping up could be fortuitous. Artemisia Resources on similar lacklustre grades to Wishbone have pointed out that spectacular drilling holes HAD00005can be as little as 50m from unremarkable holes HAD0006. The important factors, gravity anomaly, magnetic anomaly, sulphides in abundance have already been confirmed. I'm not topping up but I will hold for a few more drilling results yet.

The twitter link from Afzal I think should circle the 2011A block as GBPs's. Which is still quite close to M&P's block. It would be even better if ECO did something with the Cooper block next door but perhaps GBP will get a farm in first.

Well spotted Earl, how close are M and P to GBP's block.

5 drill campaign by M snd P offshore Namibia in 2023 just announced on top of Shell's 3 Well campaign following the Graf well success. Namibia offshore is happening. Gbp next?

Who can they be buying from, who would sell now after that photo. They are going to run out of stock to sell.