Member Info for redeyemines

-----" energy import may be scaled down to a reasonable level by utilizing local primary energy sources, mainly natural gas and local coal. An exploration and exploitation program for local energy sources may change the way Bangladesh's energy policies are designed.”

“Coal is going to be the prime source for power generation in Bangladesh in the next decade and beyond.

Https://www.tbsnews.net/economy/extra-security-cost-ships-100000-trip-thru-risky-sea-routes-825281?amp

-Extra security to cost ships $100,000 per trip thru risky sea routes

ECONOMY

Shahadat Hossain Chowdhury

08 April, 2024, 01:15 am

Last modified: 08 April, 2024, 01:32 am

TBS Illustration

Enhanced security measures taken for safe voyage through pirate-infested waters is costing Bangladeshi shipping companies around $100,000 extra per trip, which will add to freight charge and eventually pass on to consumers, ship owners have said.

There you go again Afa---just cant help yourself can you.

-Firstly let me say that I do not know the ins and outs of what is happening----That is why i'm not making any comment at this stage, until we get an RNS to give us the FACTS.

-----BUT

--Neither do you-

-----you dont know who we are talking to---what is being said---what is or isn't being agreed---nor how long it is going to take.

-

---When everything is RNS, and the position is clear (and that includes all the financing, debt repayments, accounts filed, and ELI stakes consolidated)----then maybe you can post something factual and not just loud mouth speculation.

-I'll wait to hear from you then--but in the meantime---no more hot air please.

Meant to say poor, not poo

Come on Afa, even for you that's poo.

".. So looks like no loan unequal no Eli"

... What exactly do you think is going on while we are suspended.... Not just for a few days... But for months.

........ Do you think the nomad would have allowed that last RNS if good progress wasn't being made with new funding.

... Instead of coming out with half backed guess work and scare munger stories,.... Why don't you just keep quiet and wait for the Facts to come out.

......... Can't be long

We've had a non stop blitz of stories, article, and interviews regarding coal and power, ever since Jan.

-The press, who used to be scared stiff of saying the wrong thing, have come out in force to highlight the whole situation and tear past policies apart.

-Coal and in particular, own coal, is being stated over and over as being the solution, and OPM Phulbari is being mentioned in almost every sentence now.

---Hasina rules with quite an iron fist, and nothing goes into the public domain without her say so.

-So with three months of talk about the FX mess and how OPM coal is the answer, and it has all gone unchallenged by her----that must speak volumes.

-----"Haha sounding desperate mate."

-for the record----I am a LTH with a substantial position------I am invested here because i'm after the real prize.

-I am not interested in day to day movements---they really mean nothing to me---i am not a day trader----so I have nothing at all to be "desperate" about.

-I'm just annoyed at tuppenny halfpenny traders bombarding shareholders with stupid stories, just to try and force the SP (up or down) to suit their 5 min position.

-No more from me

----ELI LTD

---- Les get this sorted once and for all

.

.Yes there is a fund raise coming---we all know this because the company told us back in Jan.

-so what???

-We don't know when it will be---it could be tomorrow---or it could be end of May.

-If we get any news or positive talk, the SP could be a lot higher than it is now ---(who knows a raise may even be done at a premium not discount), and the raise could easily be in double figs.

-That would mean the issue of no more than about 5 mill shares-(and only 10 mill @5p)---a real Non Event.

-Why anyone should try to make this out as some sort of life threatening happening is beyond me--------feedback from the AGM tells us that people were queuing up to be part of any future raise, --so raising the money is not a problem at all ---and its just not that big a deal.

-So please lets not have this same carp talked about over and over again all the way to the end of May.

---A lot of "fairy dust" been spread around today to try and keep a lid on things.

--Never trusted the red and blue reporting of bgns, even on a normal day, but today is one to be especially wary of.----all chicken and egg stuff when talking about buys and sales, and so if you want to look at the opposite side of a trade, you can paint a buy as a sale, if that's the picture you want to portray.

----Just saying

Seems like people are deliberately getting their knickers in twist, just to create a stink.

-For a start off, this is ELI ltd --a subsidiary---Not ELI.

-It has agreed to sell share to SLE --but---those shares are pledged to G.T.Bank as part of a deal that has nothing to do with SLE----unfortunately G.T.Bank will not release those shares, so SLE cannot buy them.---- On this basis the petition to wind up, will be rejected by the court.

-All in all its a storm in another tea cup, and has no effect on the completing of the pipe and FSO, which will complete once SLE finalises its finance package, and creditors are paid up to date.

Tick Tock----time running out to close any short-----it's not coming back now.

Looks like the IMF are about to read them the riot act and give them a huge kick up the jacksy.

------Get your head out of your a--e and DO something------

----If the IMF stop pumping out loans to Bangla, then that's it for them, they hit the buffers.

-Bangla need look no further than their neighbour Sri Lanka to what will happen if they don't start to balance their books.

-Falling FX reserves will lead to a collapse in the currency (its already down 30% in a year), and they only way to stop that would be a huge hike in interest rates.---That will lead to runaway inflation ect ect, and the whole house of cards will come tumbling down.

-They cannot continue to borrow money purely to pay for imports, ---it's just not sustainable.

-How much of all new loans now go towards servicing existing loans.

-Cut Imports and start Exporting more-----that's the only way to survive.

Yes YNIR, there are only just about 2 days trading left before we go into the new tax year.

.. The trading has dried right up as people are sitting on their cash waiting to load up Isa on Monday.... Just look how the mm are quietly jumping on the bid at 6.5.( a strong resistance point on its own) all trying now to build up stock ready to feed into the buying... As the sellers are not playing their game, some are starting to break ranks and uping the bid.

... Things will move up slowly tomorrow, and we could well get a spurt come Fri afternoon.

. Not a good time to be short

.. There were about three mill warrants given to Alenby Capital for their work on the last placing, and it looks like most of these are now being converted to shares at 1.65p

..it would not be any great surprise to find out that these shares are now being sold into the mkt,. and could the explanation for all the large trades we have been seeing all day

. Maybe Alenby are expecting more in the next fund raise, and so are happy to cash this first lot in.

. Nothing gets kept a secret on Aims, and I'm sure that various traders may well have known about the lumps that would be heading our way, and that could be the reason for some of the shorters who have suddenly appeared... Just my guess.

.. But the sp has held firm against that 6.5 chart level, and the buyers.... lining up for the new Tax Year.... are only a few days away from moving the sp sharkly northwards.....

........That warrant stock has been easily absorbed, and is almost finished now.... . Going short is looking like a bad mistake.

---- lot of people are sitting on the side lines waiting to put more money into their ISA's on Mond (the new Tax Year).

-The mmk's are well aware of this, and have accumulated stock over the last couple of sessions ready to feed into ISA buying next week.

---But

--Don't think they will let you in cheaply.

-The SP will be taken back up between now and Monday, and you will be paying closer to 10p by then

A big gap on the charts has been filled---6.5p should be the bottom.

-look at all the delayed trades popping up.

----follow the money

From ---- Chowdhury . interview

-At last they are facing up to their problems and conceding that Coal is the answer,

-

-

Q-----“EMRD is seriously considering the exploration and exploitation of its coal resources to relieve stress on gas for electricity generation."

A----"-Bangladesh in a dire energy crisis will benefit from cheaper electricity generated from its coal."

----"There is no doubt that such a crisis did not exist before COVID impacts and the Russia-Ukraine war."

-

----Yes the sun shone all the time and everything in the garden was lovely---- What utter tosh.

-

-This was always a crisis in the making, as their whole policy, based on Imported Fuel was flawed from the very start. It has just taken time to fester and come to a head.

-Oil was at a low in 2020, in fact it actually went into MINUS on one day---but it's average wasn't too far from were it is now, so it's no good them blaming Covid/Ukrain for a "high " oil price.

--Gas went up to about $160 but is now back to around $105, so they can't blame that either.

--As for Coal---well we best be careful what we say here---It went to around $420 just as Bangla signed a contract with ADANI, now its back to $130----don't have a clue who ramped that up, you'll have to have your own guess.

-So all in all, fuel prices aren't that far away from were they started, -----They never had the $'s to import from day one, and the debt has just been snowballing ever since.

-Now they need loans just to service the loans they already have.---a complete mess.

I see the thorny question of future fund raising has reared its ugly head.-----Maybe a tad early to start fretting about that, but I suppose we are "over the hump" and it is starting to come down the track towards us.----so what does it mean for us now.

---We have until the end of May before we run out of cash, and anything could happen between now and then.

-Personally I would like to see any raise done well before that deadline and leave us all with plenty of clear headed breathing space.----In fact I would like to see it done NOW.

-As to what price suits who, well Searcher is right.

-If its Tang's money, --then he would wont it low so as to get a larger stake and restore his %.

-(he has been diluted from around 24% down to 17.5% through recent raises)

--Anybody else's money, and the co would want as high a SP as possible to reduce the dilution.

-Having done a good job with the last one, I think Clear Capital Markets should be fairly near the top of the queue again, and maybe arrange another £500,000 at around these levels.

----but either way, ---its not important at this stage