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Good reaction off technical support that has form. Great work here by the ever present uber bulls. Hold for gold.

Woof.

This RNS looks mildly bullish on the surface but it could actually be a signal that the stalemate is about to unblock. Personally, I’m far more bullish about yesterday’s E&P article where Phulbari was openly named as a serious policy option for open pit mining and mine mouth power generation. This would align with the idea that the powers that be are deliberately and incrementally building Phulbari back into the public consciousness.

CGS International appearing on the register is genuinely interesting and shouldn’t be dismissed so quickly by the usual suspects. They’re a notable Chinese institution with clear Belt and Road links. Combined with Tuku’s strong comments supporting open-pit domestic coal there’s real ammunition here for the bulls imv. Positive development.

Just to add, there’s been a rather transparent attempt to cover tracks by our resident “weirdo” Chrisronaldo. Truly comical watching his cringeworthy performance both here and there.

Has anyone else seen Chrisronaldo12’s posts on ADVFN? It's genuinely disturbing.

He’s on there literally all day, every day, for years with endless spam, clown emojis and non stop mockery of the same few people, ranting and 'LOLing' into the void. It’s not just nasty, it's clearly obsessive behaviour.

Surprised he hasn’t appeared here yet. He’d have to tone it down for the moderators obviously. Huh...

That’s a rather barbed post that doesn’t hide your ire very well. Perhaps you ought to be a bit less emotionally attached. “Share price is the fact” might sound like wisdom to you, but it’s just a meaningless cliché. This SP has swung between 2p and 70p over the last ten years all driven by belief, speculation, rumours and sentiment. That’s the reality of this stock. I don’t know why you’ve suddenly decided to police the BB and lecture everyone, but my guess is your feelings got hurt somewhere along the way. Opinions of all types are welcome as far as I’m concerned. All I ask is that you practice what you preach, especially if you’re now playing the holier than thou PC Mankini.

"The BNP dont sat 'southern part of Barapukuria' they say Barapukuria South. This is a specific area. So they do not mean to say Phulbari at all. If they meant Phulbari they would say Phulbari. "

So you say. And maybe you’re right, maybe you’re wrong. But governments don’t have a great track record of transparency, they tend to say what they want us to hear, not necessarily what they’re actually thinking. On a sensitive issue like Phulbari, it wouldn’t surprise me if they’re deliberately using softer language (“southern parts of the Barapukuria coalfield”) right now for political reasons. I’m not saying that’s definitely what’s happening, just that it’s a realistic possibility. Assuming they always mean exactly what they say feels a bit naive to me.

Since you're bringing AI to the table here's my AI v your AI.

Quick Summary of the Discussion:Digit4lis (and others) argue that “southern Barapukuria” is essentially code for the northern part of the Phulbari field — they are geologically connected, and you can’t realistically develop one without the other.

YouKnowItsRight and others push back, saying Barapukuria and Phulbari are technically two separate coal fields, even if adjacent.

My Honest Take:The truth lies somewhere in the middle, but Digit4lis is more correct on the practical level.Geologically and operationally, Phulbari and Barapukuria are adjacent parts of the same larger coal basin.

The 2013 feasibility study clearly shows that developing the southern zone of Barapukuria only makes real sense if it’s integrated with Phulbari’s plan.

When the government says “southern part of Barapukuria,” it is very likely a deliberate, softer way of referring to the Phulbari area without using the politically loaded name “Phulbari” (which still carries baggage from 2006).

This is classic bureaucratic/political language — using a less controversial adjacent name to test the waters and gradually normalise open-pit mining in the Dinajpur region.

He seems to be creating political space to make difficult decisions like approving a controversial yet critically needed project for Bangladesh’s energy security. Cough.

OK, here’s the simplest explanation imv and I accept it could be wrong but here goes. The first raise on 16th January was probably being negotiated when the share price was around 9p and they ended up getting it done at 6p. Then the share price rallied towards 12p as we approached the election. On 9/10th February they were offered the chance to do a second raise at 8.2p. I suspect Tang thought long and hard about whether to take the money or not. In the end, he erred on the side of caution and decided to bolster the cash reserves ahead of the election. Clean raise, no warrants attached (other than broker fee). IMO it was the sensible, responsible decision, nothing nefarious, just a hard call.

You believe Tang knew in advance both the election result and exactly how the share price would react afterwards, so he deliberately did the placing the day before the election specifically to suppress the SP? Is that your position?

Just to clarify, when I said there was downside risk, I was thinking of Jamaat not the Awami League. Even with the Awami League banned, there was still genuine uncertainty in January about how strongly Jamaat would perform in the election and what their influence would be on big mining projects like Phulbari. If you have a logical and coherent argument for the second raise Jamess then I'm very happy to hear it.

With all due respect, I think you're painting with some hindsight and a touch of fantasy. We can all hope for a big result and a motoring sp here on a bb but running the company is a different matter. The election result was an unknown at the time. If it had gone the way of the Awami League the sp had real potential to tank. That was a genuine concern for all of us.

Because the sp also had the potential to tank.

He didn't know, that's the point.

Hi Digit,

The reality is that GCM cannot repay the Polo loan early without Polo’s explicit consent. Even if the company raised money at a higher price, it doesn’t allow them to pay off the loan unless Tang agrees.

“The Company may elect to repay all or part of the outstanding loan at any time giving 60 days’ notice and with the agreement of Polo Resources Limited.”

Because of this, the second raise was far more likely just prudent housekeeping imv, topping up the cash balance ahead of the uncertain political situation and election outcome in Bangladesh.

Fwiw, I don’t think Polo or Tang are behind the recent price action at all. If there’s any skulduggery, it’s far more likely just traders playing a very thin market. It could equally be completely normal price movement in a low liquidity stock. Either way, there’s zero incentive for Polo/Tang to want the share price near 5p. In fact, it’s the opposite, they want the price as high as possible if they ever get the opportunity to convert. The loan gives them a very juicy option on GCM’s success.

Overdue an almighty bounce btw

An open pit mine at Bara would have a very similar environmental and social impact as Phulbari, so the fact that the gov is now openly discussing it suggests they are deliberately shifting the goalposts and normalising the concept step by step, clearing the path for Phulbari (South Bara?) as the only truly shovel ready, large scale, high quality solution.

He who dares...