Member Info for redeyemines

The original contract on Phulbari was awarded to BHP by the BNP party in 2006---so they were pro mining then.----Also, it was the BNP that gave the contract to mine, next door, at Barapukuria to the Chinese in 2008.----so they were still pro mining then as well.--- (now they are due in court next Jan accused of awarding a contract for operation of Barapukuria Coalmine to a Chinese company through abuse of power.).
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-Like all these deals in Bangla, there are strings attached, and whether having signed that contract for Bara, they are free to OP next door, remains to be seen.

I'm sure you are right Bangla, and it's been so obvious over the last years, that everyone just shrugs it off.
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-The reluctance to mine and use their own coal, while world market prices are soaring, and supplies are never guaranteed, must surely force someone to ask the questions.
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-Why has Bangladesh got so many rental diesel power plants sitting idle and yet still being paid for by the GOB.
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-Why is Bangladesh building expensive power plants that either require a new deep sea port to be built first, ---or others that risks shipping a huge, continuous, amount of coal, by barge and ship, through the mangroves of the Sundarbans, and just praying that an accident never happens
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-Why is Bangladesh importing vast amounts of expensive, dirty, coal to run those power plants, and not using it's own coal.
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-As always in Bangla, it's about politics, and too many different areas of government seem to have differing agenda's -----and you can read into that, what you like.
-But it seems that over the last 15 years, Bangladesh has been prepared to pay any price, rather than just use its own coal .---Now it has all come back to haunt them, as they run out of FX, and their people face huge black outs, just as winter arrives.
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-No straight thinking Government would ever have let things develop like this.

https://bdnews24.com/business/tocwc340cw.
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-So the only solution to the power shortages is to generate it using coal, but not their own coal.
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-Relying on Rampal to supply the county's needs, is taking a big risk ----Shipping coal in continuous large quantities through the mangroves is a disaster waiting happen.----and their only other plan is to import power from an Indian coal plant.
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-For all their talk of clean renewable power, they are reverting back to using dirty imported coal, while their own high quality coal lays in the ground untouched.
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-Rampal using imported coal.-----Coxs Bazar using imported coal, and coal fired power imported from India.
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-Import import import---but they cannot afford it.----------so will they be forced to use their own.
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-This last comment from the Energy Affairs Minister maybe the light we all hope for.
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--------""Coal will now emerge as the solution to this crisis."
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-https://www.thedailystar.net/news/bangladesh/news/frequent-power-cuts-have-patience-3144

https://www.tbsnews.net/bangladesh/energy/we-are-left-no-choice-wait-pms-energy-adviser-electricity-situation-514510?amp.
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-You just couldn't make this up.
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----"Had it not been for the shortage of fuel, we could have ensured 24 hours of electricity."
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-Bangla never ceases to amaze----they always have the ability to state the glaringly obvious--But NEVER do the glaringly obvious.
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---"Power generation capacity has been reduced due to fuel shortage. Now we have to conserve foreign currency," Tawfiq-e-Elahi Chowdhury said"
---"We are left with no choice but to wait: "
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-Yes you have a choice and its been right in front of you for almost 20 years.
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-Use your own coal.
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wonder how they would offer you a mill shares.

138p----that a very precise prediction.../.surely it should be 139p---lol
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-But seriously, its great that somebody is starting to look again at "what could be" if Bangla does decide to mine Phulbari,-----
----- but 138p would just be a fleeting glimpse, on the way to £3 and beyond.
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-GLA

Morning Marv---so yet another big hike in power charges in the pipeline,-- a never ending spiral.
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-That just sums up Banglas whole approach to power.
-Let all "their mates" build power plants (or rent them to the GOB), ---doesn't matter if they are commercially viable or not---just hike the tariffs to make them work.
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-A square peg in a round hole, is ok, so long as the money's right.

Lets hope GCM has maintained good relations with both the Asw Leag and the BNP, so we don't have to start from scratch if there is a regime change .

There has always been a lot of "blame game" as to why the coal was signed away to foreigners .
-But as searcher just said it was the BNP that signed the original deal with BHP.
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-The argument has always been that the coal was lost to Bangla and would be exported for $'s to benefit outsiders.
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-GCM have tried hard to reverse that, and their whole project now revolves around virtually giving the coal back to Bangladesh.
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-Using ALL the coal "in house", in their own power plants, to make electricity for the people of Bangladesh, is the right thing to do.---everybody benefits.
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-If the BNP are still supportive of coal mining, then this pressure for a change of Goc is good news for GCM.
-If however Shk Hasina resigns, and is replaced by someone who wants this project to proceed, and the AL get re-elected, ---then that too is great news for GCM.
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-Any change is better than this stalemate.

I never like to get into personal arguments, especially when the other party has not read or understood what was said.
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-I said, as I have been saying since Jan/Feb---that things will not mature in Char until 24/5 or maybe even 26.--------So as the equity market suffers with recession and rising interest rates, Char will be dragged down with it.
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-I said Don't buy @24
-I said Don't buy @22
-I said Don't buy @20
-! said 18 has to hold or we could see "mid teens"
-I said "time to maybe dip a toe in" when they were 15.30p
-Now @17.75 I said we could still drift back again while the EM continues falling over the next few months.
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-One of us is right-----i'll leave you to work it out.

----"First production should be at the end of 2024 going in to 2025---------"is our aggressive best guess".............---"we need everything to work out perfectly for this to happen"
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--As was always going to be the case, time, and the falling equity market, are going to hold Char down until we get closer to production. ---24/5 (or 6) is "our best guess"---so just need patience.----buy and hold on the dips.
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-Still plenty of buying opportunities to come over these next months.

Fuel, Fuel, Fuel--------you can build as many power plants as you like but if you cannot get the fuel to run them , then they are not power plants, they are just structures.
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-No wind--no wind farms---no water, no hydro, cant afford to buy Diesel, Gas or Coal-then those plants don't work either------Fuel first.
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-Use your own GUARANTEED coal.

https://theshillongtimes.com/2022/10/07/ade-raises-concerns-over-jharkhand-coal-export-through-garo-hills/
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-Just another bit that highlights the folly of trying to import all their coal needs.
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-The plant at Coxes Bazar, needed the construction of a deep sea port before they could get the ships anywhere near.
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-The plant at Rampal in the Sundarbans, with coal having to be barged and shipped through the mangroves, threatens the whole of that national treasure.
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-And even these, seemingly simple road shipments from India, are creating huge infrastructure problems.
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---Coal is heavy, expensive to move, and can be extremely dirty and polluting, if not handled and transported properly.
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-What better than to stop importing it-----use your own coal, --and use it right where it is lying, in your own power plants, with no transportation issues, and no FX import costs.
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Well done Searcher--just like the old days---good to have you out of retirement.
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-Get rid of Hasina, and do the only thing that is still possible.
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-Mine your own coal.

Looks like she's trying to scuttle off before the poop hits the fan......Jumping before she is pushed.
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-Fantastic news.....now lets get someone who's going to move things out of the dark ages---her son maybe.
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-What a mess she is going to leave.---------a totally corrupt, backward, broke country.----
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-Hope you can read this Hasina-----good riddens.

There's been more stories and mentions about Coal mining in the last 6 months, than i can remember over the last 6 years.
-I'll be the first to say it---that none of it has come from the GOB and especially Shk Hasina herself, so none of it means a lot (sp still down here)---but these stories and mentions don't come out of thin air, and even though no GL has been given, you can bet your bottom dollar, that there are plenty of discussions going on behind the scenes.
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-Open day we will wake up and either the GOB or the Company, will tell us that something has been decided.
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-It could be a "leave the coal for future generations" again---or it could be "we will mine the coal"---there is no middle ground.
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-If it's a GL for mining, you wont see this SP for dust, and those not already on board, will be paying an exorbitant price to join in.
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-What happens when, a SP that say closes at 5p on a Fri night, and then gets the go ahead in the press over the weekend--------------how would it open on the Monday morning??
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-Lets have your guesses.
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-One day we could all be

£3 plus, those were the days (and my first purchase 310p ), and it seemed a nailed on certainty that we would get the GL, in those heady times.
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-All the logical arguments for using their own coal, have fallen on stony ground since then, and GOB has had its head in the clouds, dreaming of Free Renewable Energy, ever since.
---"We will find more Gas" is their other dream ---(and they've been saying that for at least the last 10 years).-------- that has worked out well , hasn't it.
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-God only knows what goes on behind closed doors in Bangl, but committees and reports seem to grow on trees, while nothing ever came of anything, and nothing was ever done or achieved.
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-Now the brown stuff has hit fan, and everything is coming home to roost, as tariffs for Gas and Electric have to be hiked by suicidal amounts.
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-The answer---as it always has been---is to use their own fuel---coal
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-And even better---is to use it "in house" at their own power plants, where it can be put in at a low price, --(discounted heavily against the mkt price)---and fixed for the life of the entire mine.
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-Cheap guaranteed power for 30-50 years----what more could they want.
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-Now after all this time (the riot was in 2006), it feels like we have come full circle. Open Pit mining is being openly talked about again, and even SEARCHER has re-appeared with his nightly press stories ---(good to have you back at long last---lol)
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-All we need now is something from the GOB----or even something from the company.
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-GLA

Volume just jumped to 7.5 mill----havent seen the bgns yet, ---but always when lumpos change hands, it's a sign that a "level" has been reached.
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---Maybe time to stick a toe in ???

Undersea sabotage of gas supply is about the last thing Europe needs right now.---What planet is this Putin fellow on.
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-When you look at the whole picture it really is quite a mess.
-Recession and Inflation are rapidly heading towards Stagflation.---Sterling is in freefall---The UK is up to it's eyes in debt---The Financial Service Sector is begging its staff not to defect to the US (bankers bonuses and tax cuts)----and money is being shovelled into the Economy to try and keep us afloat.
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-I can't see why the rest of the world would have any faith in us at this stage, and the only way we are going to protect Sterling and try and keep a lid on inflation, is to rapidly hike interest rates.
-But with other countries raising their rates as well, we will have to "super raise" ours----don't even want to guess where that will end up.....silly levels ??
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-Although real incomes are falling--striking for ever larger wage demands, is not sustainable, and just keeps the inflation cycle ratcheting up.
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-The next, and maybe the most worrying, stage, could be a crash in the property sector.
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-With pressure from inflation, energy prices and interest rate rises, --mortgages and rents may just not be able to be paid.
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-The explosion in the "buy to let" mkt over the last decade, (that has fuelled this property bubble), could see a torrent of unpaid rents, causing a scramble to let these assets go.
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-Lets hope not.
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-All of this leaves us with a very uncertain 12--24 months.
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-Ive read some who are predicting a 20% retrace in Equity Mkts and others who say we have "reached the Bottom"-----Me----I don't believe we have seen the worst yet.
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-So I stand by what I said earlier in the year.
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-Time is still against the SP at this stage.

https://bdnews24.com/amp/story/the-long-read%2Fd39r56ca6z
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-Bangla are fighting a losing battle trying to import coal.
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-They must just use their own.