Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Some great stuff here today and all pointing to OPM at Phulbari.
-I would doubt that tomorrow's meeting, it being the first, will come to any firm decisions.
-But I'm sure there will be plenty of discussion about own coal and in particular OP mining both at Phulbari and Barra.----Will we here about those talks straight away---i would doubt it.
-I'd expect a little bit of reflexion and then maybe something to come either from Hasina, or just in the press later in the week, or even after one or two more meetings.
-What I am now 90 % certain of --is that it's coming
You can just imagine that first meeting
... "hello,.. hello... Good to meet you.... Good to meet you too"
... What shall we talk about.?
.. Then a big awkward silence with everyone looking at each other.... Until.. Somebody puts a hand uo and says
... "why don't we mine the coal at phulbari"
.. "great idea, I agree, and me, and me and me.... All agreed then... Let's go to the pub"
... "best we string it out bit, maybe tell her after our next meeting, make it look like we have worked hard to come to the right answer"
Does anybody have the numbers for major shareholders before yesterday's update please.
---Well that made me laugh Searcher.
----" Bangladesh has witnessed a remarkable increase in domestic coal production, notably facilitated by the Barapukuria Coal Mining Company Limited (BCMCL)."
---that's the same mine they are going to close because it's carp.
---But it lays the groundwork ready to announce Open Pit at Phulbari----because they need it.
Just because things may be agreed behind closed doors on Sunday, I wouldn't think for one moment that we will hear about it for a good while.
... Hasina will mull it over and announce in her own good time.
WOO. you are right here, and could be spot on.
.. Just because CCM sold enough, in the last placing, to recoup their £500/_ outlay ( think they retained 5 Mill shares for nothing), it doesn't mean that Axiz CM will do the same.
... They could well retain a much larger % and only sell down a portion of the 30 mill they have to place.
... How much will they retain?... We don't know.
... But
... When the sp moves up, you will know that they stopped selling a few days earlier
Mankini... That's a very good point and should be looked at in a positive light.
... About 60 mill shares have been fed to buyers at an average of about 4p, and we are trading at around 7...8p....
..thats says it all... Follow the money
Exactly dose..... Glad someone, s paying attention
These problems will not just suddenly disappear.
. Their FX reserves have fallen back below the IMF limit of 20 bill, power plants are again sitting idle through lack of fuel, because they cannot afford the import bill, and even the simple task of running the port seems to be beyond them.... Nobody even wants to take the responsibility, and cover the costs, of continually dredging the channel to allow the coal ships access to the port even when they can afford to import.
.... Its just such a mess.
.. Surely they really will have to bite the bullet and mine large amounts of their own coal.
No===== Nbof---i'm not expecting a drop in the SP at all ---rather think it will be held in the 7.5--9 p range until at least 25 of the 30 mill has changed hands----after that-----we are as we were
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-In Hasina's hands
Yes I thought they were YKIT----i didn't make it up ---i'm sur it was in the RNS's ---but its not there now---or have I got t wrong ?
===just to focus you on some of the finer points
----If im right
--Some of these shares are being fed to mmks and so on to traders ---maybe aose 100/- ---200/- that we are seeing
----also we should expect to see larger "lumps" changing hands (the 4.5 mill is a classic example) as they (ACM) find " clients to take larger positions.
0So to sort pout an argument the 4.5n mill is probably both a buy and a sale, and i'd expect to see more like this in the coming days
0
-As i say----what the volumes
-Shares will be admitted on about the 19th so will AXIS C M appear as a large share holder list and will any drop in holding also be RNS'd---or will ACM disappear the same way CCM has ?
-
-I have tried to speak to he co on this but am getting no reply.
---- I want to take a close look at this latest fund raise, and I think it may be important to look at the previous one first and see if there are any similarities.
---- When i looked at the FR in Jan, the first thing that stood out, was that it was not a placing, but rather it was a Subscription----a difference just in wording ?---no, in my opinion it was more of a money lending exercise from an outfit called Clear Capital Management.
-On paper it looked like they had BOUGHT 30,3 mill shares at 1.65p for £500/-, but did they.?
-They NEVER appeared on the large shareholder list, even though it looked like they had "bought" 12.5% of the company----so what really happened ?
-Well my guess (and this really is just my opinion) is that CCM lent GCM £500/- in exchange for 30.3 mill shares, which CCM then sold on to "clients" and into the mkt,( at anywhere between 1.9p and 2.2p), in order to recoup their outlay.----I was tallying the sales all along, and sure enough, when those sales totalled £500/- , the selling stopped and the SP moved up all the way from 2.2p tp 10p
-What was in it for CCM i hear you ask----well they managed to recoup their outlay by selling around 25 mill shares, so they finished up with 5 mill shares for free (or they could have sold out completely and made £100/- or 20% profit over less than 1 month)----not bad at all.
--The shares finished up in Client (ii's ?) and our PI's hands.
----Think im wrong ?
-Then look at the large shareholders list on GCM web site---you wont find them there with that 12.5% holding---they are not there and in fact they never have been, not even from the admission date of the new shares---not a mention.
-----Now that doesn't sound right to me----but there is something even more alarming.
----Clear Capital Management seem to have been air brushed out of GCM's history all together.
-Go back on all the fund raise RNS's and you wont find one mention of CCM in any one of them-----they were there when the RNS's came out ---but they are not there now----the RNS's have been altered (don't think that is allowed , is it ?), and all mention of CCM has been removed.
-
-Anyway---lets come back to this current fund raise.
-
-Is it going down the same rout---my personal opinion is,--- yes it is
-
-It's another Subscription, again not a placing----so i'm looking to see if we are in for the same ride.
-Will this latest 30 mill shares now be passed on to "clients" and also fed into the mkt for us PI's to consume------
--------WHATCH THE VOLUMES
-If i'm right then we have to start adding up the large sales volume again-----with the sp static i'm assuming 59% of daily turnover is sales and 50% is buys
-so at the moment i think they have shifted about 9 mill shares, and if they are following the same route as before, then they will need to sell about 25 of the 30 mill before they get their money back---should take maybe about a week----lets see.
Jesus bloody christ, you're at it again.
.. Another wild bit of speculation just trying to bad mouth the company from you.
Do you just spend your whole time trying to think of what you can say next to paint the Co in a bad light.
. Have you still got a short open?
The election is over and Hasina is in for another, and probably, her last term...
.. Now it's back to business for GOB, and the Energy ministry are to hold their first full meeting on the 21 st of this month.. So what's top of the list.
..in late Jan early Feb the ministry met with Hasina, and no doubt put their views to her... probably for the first time, as it's normally her putting her views to them.
.. With the energy minister talking openly about how own coal and in particularly Phulbari should be used, it's a certainty that this was brought up in that meeting between the Ministry and Hasina, and maybe since then they have already reviewed the complete proposal, and weighed up the pros and cons.
.. So will phulbari be on the discussion board at this first meeting..... Let's hope so.
.. All eyes on the press.
But cannot produce yourself
.... India are showing the world how it has to be done.... If your country needs coal to generate its power, then you have utilise all of your own resource rather than relying on imports from across the world.
. Not using more coal, but if you're going to use it, then use your own..
.. Keep your FX for the things you need but produce yourself.
38 tick ups in five mins ---you should start a cult-----lol
Lots of new tax year ISA money going in, and producing a few larger trades and increased volume.----- Making a "spike" in the sp.