Member Info for Marv731

Interesting that the article is dated 20 August, 2 days before GCM RNS regarding the opening of discussions with gov reps re “modality for progressing the project”.

Even Asia Energy, which rechristened itself to Global Coal Management after facing mass protest in 2006-07 when it was working on implementing the project, has approached Petrobangla to get its hands again on the Phulbari coal field. The company gave a presentation at the energy division recently, highlighting the benefits, sources said.

Apologies if this has been posted previously. First time I’ve seen it

https://businesspostbd.com/front/2022-08-20/coal-in-spotlight-as-energy-crisis-continues-2022-08-20

The March 22 RNS suggests otherwise

The funds raised from the Placing and the Subscription will be principally be used for development capital on the Company's high-quality coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project (the "Project") in north-west Bangladesh, and provide the Company with sufficient funds to cover its corporate operating expenses through to Q2 2023.

Someone buying

Mollah Amzad said the government should extract coal from Fulbari and Khalaspir now to ensure fuel to the coal-fired power plant.

Prominent energy expert Prof Badrul Imam said, “Our local energy has been ignored. If the government would have put emphasis on local energy sources, today’s crisis could have been averted.”

Is this the article your referring to?

https://www.businessinsiderbd.com/bangladesh/news/26644/load-shedding-to-be-resolved-by-end-of-sept-nasrul

Interesting piece here from Anu which suggests that there’s an energy seminar in phulbari this month.

https://www.fourals.com/2022/08/26/government-is-plotting-to-launch-canceled-projects-to-cover-up-corruption-in-energy-sector-anu-muhammad/

And nothing has changed.

Nice to see Mr P is still doom and gloom. I guess that’s what 20 years does for you.

I hear there might be a change in the air and the green angle is very much welcome.

Let’s see where we are by Xmas

Long time no speak. Hope you are well

The proposed Phulbari Energy Park is rich in natural energy resources capable of supporting over 4,500MW of Solar Power and 6,600MW of thermal power. Perceived as a groundbreaking and forward thinking project aiming to deliver affordable and sustainable energy solutions to the people of Bangladesh, it has been lauded as offering a template for developing economies to grow and utilise local resources in a more sustainable and eco Friendly manner.

Sounds good.

Be interested to know who is setting this up

Phulbari.org

New website under development

Www.philbari.org

Short term pain for long term gain I’d guess.

There’s clearly a fundraise coming at a lower price which shareholders will have to stomach in the short term until real progress is made.

It’s connected to Mologic

That the nomad’s problem was the relationship Gcm had with Polo.

Now sorted - and will no doubt relist

I hope it works out here for everybody involved. There’s a lot a genuine people invested here.

With regards to Tang selling the license, I’m not too sure that would be a wise thing to do considering the company’s history with the GOB. I’m not sure he would want to give them any excuse to not honour the contract.

I genuinely wish everyone well here.

And back to 13.5p to buy.

Yes I think we’ll see an extension to the MOU

Must admit Polo delisting has caused me concern over GCM.

There’s nothing stopping Tang taking GCM private where PI’s won’t have the protection of a PLC and won’t get the same information flow