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GPBack I'm looking at the investment case here (not invested yet). Nothing sinister. There is definitely something interesting unfolding here, but you have to build a picture away from what you read in the RNS, E.g. What is the demand in the wider locality? How does lack of infrastructure impact on things like transportation - Can the coal be transported at consistent rate and reasonable cost? Who are the competition and potential partners? What worked for them?And of course, How do GCM presently connect with public, government and politicians?
Without a grid distribution infrastructure, then smaller output plant is better suited to towns, industrial areas, small cities (Phulbari population under 150k). The BPBD is already engaged in coal fired JV's (50/50) with Chinese & Hong Kong consortium's. GCM BOD they probably won't that get far in negotiations unless a similar 50/50 arrangement made. But where does that leave GCM's plans?
It could mean that the holders may now see an opportunity to cut-losses and sell into a rise on news. This could also be a way of transferring the shares between ii's.
What is interesting on the recent ST update RNS / 26th October, is that we are given a reason for the delay on M2-042: Methodical casing of the hole to 224 metres, in stages (to prevent fractured caprock collapsing into drill hole). Its slowed progress, but is totally necessary to proceed. They initially increased the working hours during September to October but now we're informed the hours are reduced again due to night freezing temperatures affecting water supply. The projected intersect with diorite (for core samples) is 360 metres and a depth of just 253 achieved on 26/10. What is encouraging is that the casing is upto 224 metres, which indicates that they have possibly now passed the challenging caprock (also highly porous / water asorbant) by taround 30 metres or more. Now can we can hopefully drill onto the diorite intersect soon, with no further unexpected delays.
Ad3adlyfart For the proverbial 'big fish in small pond' AW is learning the drawbacks to this size holding ie. he cannot trade this, however small (but can short?) without the TR-1. Then he has to put out some explanation on his blog. He does state he will always issue TR-1's 'promptly' - most likely because he knows that his social media 'followers' won't be so enamoured with him when his actions cease to back up his words.
When someone this hold size buy or sells it makes an impact regardless. AW is only looking after his own interests and is not acting for other share holders, as he may like them to believe. I've always been suspicious of the social media term: 'followers' - sheep also 'follow'.
On theory might that be is that he has finally been offered a directorship at gwmo. That would explain why are posts referring to gwmo have now been removed from his twitter account & his company website.
For all we know, AW could be an absolute amateur spunking his way through inheritance funds. AW post: 20.10.2018 'gwmo - 'My thoughts' 'One of the questions I've been asked over the last few weeks is am I selling down my shares and I have not. I also have no immediate plans to do so' 26.10.2018 'I am selling' ' Today I made a difficult decision to sell some of my shares a significant loss after I sent one final offer to the company to appoint me a a director' On one hand he is describing that he'll work for the benefit of the shareholders. On the other hand he is a 'pull the ladder up' type selling down with no consideration for fellow shareholders. Who said sociopath?
This is such a paradoxical situation. AW is openly saying that's saying he's not sure if he'll hold or sell, effectively stalling & devaluing his existing holding. If he decides to increase his holding, the shadow of his methods & motives will be impossible to shake off. Is he openly using his influence to achieve something for himself or for others?
Oilriches, 'No reason for this to attract buyers at this moment in time' - the price is currently lowest price of the year. Would you see sense of investors to waiting to buy when the sp higher? Alternatively, If punters are prepared to dive in at lower prices, does that not reason the case for potential here?