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The independent experts have written extensively about its potential disastrous impact, and even reports of various expert committees formed by the government have highlighted the dangers of open-pit mining.

The people of Phulbari region already rejected open-pit mining in the mass protests of August 2006. The government also signed an agreement with the National Committee to Protect Oil, Gas, Mineral Resources and Ports mentioning that Asia Energy will be ousted from Bangladesh and no open-pit mining will be allowed in the country.

Shouston:

The interests of the private coal power plants, jointly owned by local and Chinese companies, in buying the locally mined coal is evident in a recent press release of GCM Plc (formerly Asia Energy), which has been trying to extract coal from Phulbari by open-pit mining since 2004 without any valid license.

Does it not have a valid license?

Therefore based on your comment from this morning, GCM is NOT on the right track.

Bod hadn’t released an RNS to provide the reasons for the rise, maybe they are working hard planning an imminent placing…

Youknowitsright:

Your comment from early this morning, lol!!

RE: Yunus is a major problem for BangladeshToday 09:22

We've had a 150% rise and the company has not even commented. I would have thought that a rns would have been issued to boost the frenzy and arrange the fundraise at the higher sp.

It is fact that the company runs out of cash in July25.

It is fact that the company burns £125000 per month.

The earliest the election will be is December25.

So GCM needs a fundraise, and a substantial 1 at that.

Why wait? 2.95 to buy now. The day traders will soon be cashing in. What then?

Youknowitsright ah you just bought back in didn’t you lol

Shouston how do you know SNDA profits are coming into this share?

Https://www.thedailystar.net/opinion/views/news/why-open-pit-coal-mining-phulbari-will-be-disastrous-3578001

Was just wondering that link filthylucre shared from earlier on in the morning, Mark the Geoscientist commenting on an article from a few months ago, would he be in the know that something has just been finalised, his statement is quite intriguing:

With a series of satellite low-risk "bumps" surrounding the field the opportunity for more success and project volume growth looks promising. Fingers crossed for a high-side outcome that could lead to another commercial field development in Timor Leste.

https://www.linkedin.com/posts/marklisk_uk-listed-indie-sights-singapore-investor-activity-7307604362074169344-GgAL?utm_source=share&utm_medium=member_ios&rcm=ACoAABH65KoBJzcC1pLX5i3mwzbCvbjspz8sRBc

Nobody really talks about the fundamentals of this company other than the war…bod hadn’t released any news/updates regarding the asset sales

Yesterday there was only 6 trades against a gazillion comments and today all of a sudden this share is buzzing…

What has changed?

Is cash really running dry, is there another placing coming?

Good find filthylucre 👍🏻

One of my purchases marked as a sell…

Late RNS caught the market by surprise…wait until it starts to get noticed on the leader board

That’s a tremendous deal

Youknowitsright

You have suddenly done a full 360 degrees on your views of the company and sold out…

Both GCM and MATD were pumped to high heavens recently…

Both have very very long term holders…I wonder why

Nearly 100 comments and only 6 trades??

Youknowitsright

You need to ask yourself why the mou with power China keeps needing to be extended.

Perhaps the previous Government weren’t keen on approving the project, and the current interim government is pushing the green renewable energy agenda.

‘Notice to Proceed with the works is dependent on the Company receiving the necessary approvals from the Bangladesh Government and achieving financial closure‘

How many times has the mou been extended with power china…seems to be extended on an annual basis with no end goal and each year a raise takes place as they want to be paid :-))