Member Info for redeyemines

With relations between Australia and China starting to thaw, it looks like coal will once again be on the trade.
-
-All the supply pressures that pushed coal past $450 a ton could now unwind again.
-
-GCM had a wonderful chance to stop ***** footing around and finally present our proposal.
-But it seems we have always been trying to plat the political game and hope that the cost of importing would finally force Shk Hasina into agreeing to OP Phulbari.
-
-Bangladesh has calmly sat on its hands and hoped that the coal price bubble would burst, and make importing a viable option again.----and it s's starting to look like they might be right.
-
-Over the last year coal has gone from $150 up to $450, and that should have been our cue to present.----but we didn't.
-
-Now where are we ?----Coal is today at $265, down almost $100 overnight, as the bubble bursts.

Sadly SuperRoty, it does look that way.

Early last year I said that I thought Char's prediction of first gas by 24/5 was a bit optimistic, and that I expected life's run of the mill problems, to slow down our hopes a bit, and that maybe late 25/6 was a more realistic target date.
-
-Now here we are, almost a year on, and no concrete progress has been announced so far.-

-I'm not saying we haven't made any, and of course anything could be announced, ( even before I have finished typing this), --but at this stage we have had no solid progress along the road to first production, and things are starting to feel that they are being pushed slightly further into the future.
-
-Having had 3 first quarters of a dull equity mkt, we have now had the expected 4th quarter rally, which could well be coming to an end .
-All the same problems are still there, with inflation, rising interest rates and a winter of discontent in the labour market, all looking like they will again weigh heavily on the equity market, --certainly over the coming next 6 months--.
-
-If Char are indeed going to miss that 24/5 first production date---then they are as vulnerable now, as when they first crossed that 18p level.
-
---Ii's will of course use any profit in Char to hedge against falling sectors elsewhere in their portfolios -----I know iv'e said that so many times this year, --but without progress and solid developments this is looking ever more likely.
-
-I don't know if there really was a 1.8 mill sale today (no big trades to give the game away), but i wouldn't be at all surprised if it was true.
-
-IF (and it is an IF ) Chare are going to miss that 24/5 first gas hope, and start looking more towards 25/6, then the SP has gain run in front of itself.
-
-In the absence of any news, the SP will be governed by the rest of the equity market, and if that comes under pressure again, Char will once again stand out as being overbought.
-
-Without news, there is still plenty of time and buying opportunities to come.

You couldn't make this up--------ANNU BLOODY MUHAMMAD.
-
----"Annu Muhammad warned the government things like this could happen"
-
---Annu Muhammad has been the thorn in the GOB side right from day one----It is almost entirely down to him and his mob, that Phulbari didn't start in 2006.
-
-If he hadn't made all those protests and riots back in 2006 and since---then Phulbari would be producing by now and NONE of these problems would exist .
-
-Its all down to him.

This mine at Barapuk was rushed into production around 2000, long before any proper surveys, reports, and studies were done .
-
-The result has been a total disaster.
-
-Cowboy Chinese workers have blasted tunnels under around 10 squr kilometres of village and farm land, without the slightest plan for the problems would arise, and how they would correct them.
--As a result, they have ruined the land and polluted the water courses.---The collapse of spent tunnels has caused subsidence, to such a degree that houses have collapsed, and the land has become uninhabitable. As the land has sunk, huge lakes have formed on what was once farm land, leaving the people homeless and unable to produce food.
-Even worse has been the management of waste, which has just been pumped straight into the local rivers and canals. and the extraction of so much water, that the water table has dropped by around 100 feet.
-
-You could not find a worse example of poorly planned mining if you tried.
-
----Now, in contrast, look at the proposed Open Pit Mine at Phulbari.
-
-There have been so many studies, reports and committees, that not one stone has been left unturned.----Every problem has been gone over and over and solutions found.
-
-A vast, deep, enclosed hole, will contain any waste, and as the land is re-established post mining, those pollutants will again be returned to the depths and buried under the replaced overburden------as they were before the mining started.
-The water taken from the pit will be re-injected back into the land nearby, and this will maintain the water table.
---Finally a good proportion of the land will be returned to village and farm land, once the mine has has been exhausted.
-
-But the most important difference, will be in how the local people will be looked after .
---A proper scheme of full and fair compensation, rehousing and in a lot of cases, re-employment---not just jobs for few immigrant Chinese workers.
-
-Germany has shown the way with OPM, and proved that if done properly, from day one, then it can be a great benefit to the whole country as well as the local population.
-
-It will be a very bold step to agree to OP Phulbari, but it would be an absolute crime to agree to further underground mining, next door at Dirpha, by the same cowboys currently mining at Barak.
-
-If the country needs coal for power, and cannot afford the cost of importing, then Open Pit Mining at Phulbari, is and always has been, the correct way to go.

Even ---"!New Age"---which has been pro the Aswami League----put this out today.
-
----"Experts also allege that the government has selected economically and environmentally less viable projects on political considerations to channel public money to private pockets and in this case burden public with foreign debt which may have been siphoned out of the country through mis-invoicing and other similar measures."

Imports, Imports, Imports---
-
-Coal to run the plant at Coxes Bazaar.
-Coal to run the Rampal plant in the Sundarbans
-Coal to run the Diani plant in India
-Diesel to run all those leased generators
-0LNG to run those rented power plants

-
---Ive said it before, and i guess everybody including a blind man, has been telling them the same.
-
-Stop importing.
-
-Mine your own coal at Phulbari ---(not underground at Bara and Dighip)---get 16 mill tonnes a year and save yourself $5 Billion a year in import FX.
-
-If you have a good look at the mess they are in, --all those contracts they have signed---and all the interest they are paying---you could barely believe what has been going on.
-
---"Corruption"-- is too soft a word for it------They (including Hasina) should be slung in jail.

Maybe instead of using coal, they should use all those brown envelopes that seem to be swamping the country.

-----Not talking things up or down here-----but
-
----as soon as that $750 mill finance package completes, then all the rest of the plans fall into place, ---and makes a totally different picture.
-
---cant be long now.

Yes MUD, looks like we had a knee jerk panic trade on the back of that RNS yesterday----stock dumped all over the other mm's causing yesterdays drop, and maybe finished off this morning (and only reported today).
-
-If so
-
-Panic over and we could rally tomorrow.----lets see.

----We should be due the Final results at some stage this week.------Although the figs will likely be up to the end June 22, I'm hoping they give a "cash in hand" position as of today, and set out their funding plans for the next 12 months----or will we have to wait for the AGM at the end of Jan to find out.

Morning Pap-----yes the use of coal will rise in Bangla next year, and in many countries as well, but sooner or later the world will move on, and other technologies will make using coal a thing of the past.
-
-And then what for Bangladesh.
-
-A $200,000,000,000.00 asset will be left in the ground and lost to the economy forever.
-
- -So if they don't use it soon, it will be --"The crime of the century."
-
-"The world is close to a peak in fossil fuel use, with coal set to be the first to decline, but we are not there yet," Keisuke Sadamori, the agency's director of energy markets and security, said."

Care to explain Newyorksaint ?

---Interesting Jimmy, ----with the other two projects (renewables and Hydrogen) being split off into separate companies, and no real value being put on our Brazilian and Namibian assets,---Char is really all about Moroccan gas.
----So what does your guess below add up to.
-
--"We know from the recent webcast that chariot are looking for a strategic partner that will have a common % in the anchois field production licence, the lixus licence and rissana exploration interest".
-
---It basically means a partner with a total interest in Char--almost a merger.
-
-Could such a partner put up cash for a direct stake in Char, as opposed to just an interest in individual parts ( Anchois ect).-----Char shares for cash.
-
-Such a stake would be calculated as a % of the market cap of Char, which of course would be governed by the Share Price.------------------------The higher the SP the better the deal is for Char.
-
-Could this be the reason, for the seemingly out of place, webcast, and with the co feeling the need to take the story to a wider audience (Europe and the US) .
-
-Why else should the company be "disappointed" with the current SP----what difference should the SP make to Char at this stage, unless they intended to use it.

-I said on Sunday, that I did not quite see the point of an upcoming Webcast.
-
-If the news we have all been waiting for was ready, then it would have been announced first, and the webcast would follow. So, having the webcast on Monday showed us that the JV/funding news was not ready, and I posed the question--
-
--- "What is the point of a glossy presentation at this point" ?
-
-There were lots of upgrades to things we already knew, and lots of new predictions about future reserves, production levels, and new progress from our other two ventures---the renewables, and green hydrogen.
-All of this would have been of immense interest to our resident experts, and they have made a good job of pointing out all the benefits to the rest of us---thank you.
-
-But--actual progress was thin on the ground.
-
---FID now has been put back to maybe Q2---the Timelines and Value Triggers page puts it in the middle of the year --(end June ??)--although that may just be cosmetic printing.----but what if it's not.
-
-If FID is towards the back end of Q2 (or later), then where does that leave the rest of the timings ?
-
--No mention of any delay to First Gas by our BOD, (still saying 24/25), but things could easily change----Q2, 25 could become Q3 or Q4-or even Q1 26 (as I have said many times).
-
-That shouldn't make any difference to Char in the long run-----Or does it ?.
-
-Little things now start to raise some questions.
-
-"First gas" was ALWAYS the number one priority, and the revenue from that was to finance the development of our other two ventures.
-
-Now suddenly we are talking about JV's and separate companies for these two arms, with NO funding coming from our gas, and these two being self funding through farm outs /JV ect-----so why the change ??
-
----If we are now not confident in getting revenue up and running quickly enough to fund these two----have the goal post changed.-
-
-I know we had a busy start to 2022, but from Dec 21 to Dec 22 we have managed to burn our way through about $26 mill, leaving us with about $23 mill in the bank.
-
-The BOD assured us that we had enough funds to take us through to FID---but which FID date is that ---Q2/3/4 or Q1 2026?
--
If things do stretch out a bit, will $23 mill really be enough to keep our head above water ?.
--Will we need to raise further funds, despite the board's assurance that we won't. ?-
-
--The Board said that they are "disappointed" by the SP, and that they intend to take the story "out on the road" to drum up interest, and raise the share price.-
-
--Maybe if they are looking at the faint possibility of another cash raise later next year, then perhaps they couldn't afford not to do this webcast.

$23 mill cash at present---should take us to first gas---no need to raise further cash.

---no nasty surprises and first gas still on course for 24/5.
-
-Float of renewables later.---finance renewables via partnering rather than from gas income

Been waiting to see if anyone would pick up on this post be Mumbo-Jumbo (2nd Dec)
-
--"give her family a secret share of phulbari... you will see the mine given the go ahead pronto :)
-
-Barra is up and running and has been for years. So maybe somebody is already crossing her palms with silver.
-
-Would explain why she has been so dead set against OP at Phulbari (Barra would become obsolete if they OP next door)---and would also make it impossible for her to change her stance.

"They will tell us that all is on track, with exciting projects in the pipeline ahead etc etc…."
.
-Really does make you wonder why they are doing the Webinar at all.
-We all know what Char is about and what they have in the way of various ventures, and we know what news we need to hear, to get things moving.
-
-If that news was ready,,, then they would have released it first and then had the presentation.....So i'm assuming we wont be hearing anything new, just details and predictions of things we already know.
-
-What is the point of a glossy presentation at this point ??
-
-Lots of projects and forecasts, with plenty of coloured slides, and lots of numbers --bla bla bla----=but any real progress .
-
-We need concrete news on JV's /funding ect----we already know the rest (or enough of it to get the picture)---so why the presentation on Monday.
-
---Presentations are always designed to get new SH interest, and get the SP moving up----so why is that important to Char at this stage of the game.?
-
-Maybe a JV will entail some form of equity interest in Char and not just % stake in Anch.
-Maybe the funding could also entail some form of Equity instead of the normal Debt or %
-
-both of which would benefit from a higher SP.
-
-What we don't want to see is a glossy future prospect, soured by "taking longer than we thought", and a need for short term cash.

All we really need to hear, is that all the timelines are going to be met.