Member Info for Marv731

Great news and hopefully the start of a run of positive news.

Certainly some muppets on ADVFN

https://thefinancialexpress.com.bd/economy/bangladesh/govt-to-focus-on-financing-next-planning-blueprint-1579756096

Be interesting to see what comes out of this next week

Or AGM RNS
Or Funding RNS

https://www.sbs.com.au/news/despite-climate-impact-bangladesh-wants-australian-coal-to-fire-29-new-power-stations

The Polo RNS did make me wonder but I’d have thought if there was any question over his re-election the agreement would have been formalised before the AGM.

Personally I’m hoping for Chinese funding as this would send out a big message and hopefully move the SP.

I guess we should find out next week one way or another.

I expect to see a RNS next week regarding funding (hopefully alternative funding). Here’s the relevant extract from the finals.

As at the date of this report, the Company had fully drawn down on the increased Polo Loan Facility and the Company currently has approximately £315k in available cash resources, which the Director's believe will only be sufficient to fund the Company's cash requirements for the next two months, assuming the Company's currently forecast cash costs. The Company has received a non-binding commitment from Polo, whereby Polo has confirmed its willingness to enter into an agreement to increase the Polo Loan Facility by an additional £1,200,000 from the end of January 2020 should alternative financing not be secured by then (the "Agreed Facility Increase") which, at the Group's current cash burn levels, would provide sufficient financing for at least the following 12 months.

Should we not expect a funding RNS by the end of the month?

Without RE reading the finals, I thought funding was required by end of January, either from Polo or elsewhere.

And nice to see the website is back up

https://www.whois.net/

Gcmplc.com

If you do a “Whois” look up you’ll see the details

Looks like the website expired yesterday and has been renewed for another 12 months.

https://ep-bd.com/view/details/article/NDM3Nw%3D%3D/title?q=dependable+grid+power+at+affordable+price+can+repl

Sounds promising. Nice find

Not me pal - I live in Leeds.

MOT

https://www.beltandroad.news/2020/01/15/china-backed-coal-plants-on-eus-doorstep-hide-huge-carbon-costs-2/

Do they have to sell into the market though?

I have to say, it’s a very poor reaction to a decent RNS. A few years ago we would have seen a decent rise on the back of this.

Still time tho I guess and it should gather momentum as we get closer to formal agreement.

Great news! Should be a good day and a good few months!

So the 6 month MOU announced on 11 July expired yesterday.

Guess we will hear next week if this has been extended or a formal agreement to proceed has been reached.

Could be an interesting week ahead.

Now where’s that mining partner!!