Member Info for redeyemines

The Matarbari Island, in Cox’s Bazar, power plant is due to complete in early 2024, then GOB really will be up against it.
-Power plants and the deep sea port have cost a fortune, but not as much as the coal is going to cost to run it.
-Why they have continued with this project beats me. god only knows how many times their sums must have been reworked since they first signed the contracts, and still they can have no idea how much those imports are going to cost------no doubt some are making a fortune.

-If there is an upcoming power seminar sometime this month, then the GOB are going to have a lot of hard questioning -------------If they are building coal fired power plants, --then why are they not using their own coal, instead of importing ???.
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-No doubt they will try and deflect criticism, by talking about saving the planet and saving farm land, and trying to talk up all the renewable options.---Then they will talk about further exploration for gas and oil--bla bla bla.
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-But the question still remains---they are relying on coal, so why not use their own instead of importing .
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-Maybe, just maybe, there could be a sea change at this rumoured seminar, --and at last they could forget the unrest from 2006 and move forward.
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-As sharebare2 says--Anu Muh has had far too much too say for himself over the past years, and in holding back development, he has a lot to answer for.---one self appointed critic has dictated Gov policy for far too long.
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-So many "bits" of stories come out of Bangla that its hard to know what's fact and what isn't.
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-Does the Draft IEPMP contain a recommendation for open pit mining ???---Is that for North Barak and not Phulbari ??---is there going to be an energy seminar later this month, and will it spring some surprises ??

https://businesspostbd.com/front/2022-08-20/coal-in-spotlight-as-energy-crisis-continues-2022-08-20

Good find I888, --and maybe that was the reason for all the action yesterday.
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-It could just be typical Bangla press "miss reporting again" --or it could be true.
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-Does that draft IEPMP contain a reference to "considered, or considering" open pit mining ??
-we need to see that draft report before we all get over excited.
-I am trying to find a copy.

try clicking on the green tab ---top right

Can't see anything on the Power Point Presentation.-----did anybody ask the question about timing of first gas, and is it still early 25 now. ?

That's my whole point BTS...I'm not so sure they "have to" guarantee us anything...----
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-If they say, take $100 a tonne or don't mine at all, ----what would we do.
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-We could do them a huge favour and get 100% of $100----or be pig headed and get 100% of nothing.
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-We've all heard the stories of how bad corruption is in Bangladesh.---Well we are in a unique position to offer them an outstanding "legal" bribe.
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-If any other country offered them coal @$100 (plus shipping), they would bite their hand off.
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-By doing the decent thing, we have nothing to loose and everything to gain.

-I see Putin has laid his cards on the table about the supply of gas ----no gas until the EU drops the sanctions----there's a surprise.----so the supply squeeze goes on and on.
-Coal moving with the cycle, and now up to $457, Oil being held, but still $100, Gas, is anybody's guess--------Nobody can run a country relying on imported energy.
-Bangla, sitting on all that coal, should be rubbing their hands---lets hope that they finally wake up and bite the bullet.
-I was reading this study "-https://www.nature.com/articles/s41598-022-19160-1", and taking note of the 17.5 mtrs subsidence that could be caused once they mine that 30 mtr seem at Barra-that will ruin the farm land above.--Also with Barra being North (up stream) of Phulbari, surely it's going to run into the same aquifers that we will-so all the arguments put forward to NOT op mine Phulbari are already being dealt with at Barra---so no reason not to get on and mine.
-But---the most compelling reason to give the GL, is that it is all "in house".------ALL the coal mined will be used in their own dedicated power plants, and all the Electricity generated will be for Bangla consumption---and that opens up a real treasure for the Bangla economy.
-Being all "in house" means that the final unit cost is NOT determined by world commodity prices-----------------Phulbari coal could be factored in at any price they like (lets just say $100), plus the mining costs, and plus the generating costs---with all three elements (coal holder, the miner, and the power plants) allowed to make a reasonable profit.
-It's too easy to cry that we should be getting $450 a tonne, but remember, a couple of years back, we would have been happy with $50 a tonne, so we don't have to be greedy, just because the world is in a mess.
-Just look how cheap that electricity would be for their people (a quarter of the price maybe?), and guaranteed for 30-40 years, while the world sorts out other alternative energy sources------fantastic opportunity, if only they would get going eh.

"We are gearing up for another commodities super cycle and that will apply to coal as well"
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---and right on cue coal has hit a new high of $457---which makes the coal at Phulbari worth $256 Billion.
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Lets take a deep breath, and see where we are.
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-This complex deal is nearly complete.
-Government approval is coming.
-The finance package is almost on the table.
-The last nuts and bolts are being screwed onto the pipeline.
-and Production is on the way back up again.
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-This should all be complete by the end of this year-just a few more months now.
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-What a fantastically fascinating journey this has been, one you could never have imagined a few short years ago--------------
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----------------But one man did----------------
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-From licenses and options all over Europe, we have tried our had at so many ventures-----Coal gas, Fracking, Shale Oil-ect ect ect
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-And then, out of the blue, came another rabbit from Oisin's hat------buying a stake in a Nigerian oil field from a Canadian company, and turning ourselves into a finance house along the way.
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-Many (including me) thought that was the end of that venture. One that would run it's time course and then finish-------how wrong were we.
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-It's still hard to take in that we are now fully involved in a major oil field--seemingly out of thin air.
-I cannot think of any other E&P company that has evolved the way SLE has.
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-I know that all these other directions we have been to, have cost SH's money, and many are still sore about the dilution, and sliding SP we have had to get us to this stage, -but one thing was for sure.---Oisin Fanning never stood still--a true wheeler dealer if ever there was one.
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-Criticise his life style or his salary if you want, ---but what price genius ?
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-This has all the makings of a deal that will just keep on giving, --and going by past surprises, i'm sure there could well be more to come.
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-Well done Oisin Fanning.

This is an interesting bit of research about the subsidence caused by the Long Wall underground mining at Barra.
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-https://www.nature.com/articles/s41598-022-19160-1
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-So they could get subsidence of anything up to 17.5 mts when they mine the 30 mtr thick seem.---Well that will f--k the agricultural land above without a doubt.---and the fact that Bara is due North of Phulbari, means it is affected by the same aquafers as Phul----all the arguments to NOT op phulbari are blown out of the water.

If we are getting 70000 mcf per day from a 14 inch pipe , then an 18 inch pipe has the capacity for about 115,000 mcf per day

Good find IIWIT---but they just keep on going round in circles.---They are now talking about the farm land again, GCM addressed this issue and the people on it, almost ten years ago.
-As for the underground water.---They have already had umpteen studies and committees on this water, and all the conclusions were that it could be managed-should have been good enough years ago---but no-----------just keep on asking the same questions round and round.
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---"Hopefully, we will make a decision regarding this by this year.”
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-IF ONLY.

vol picked up too----or is that the end of the seller

To my knowledge, we have had two or three studies in the past regarding the underground water and it's management.
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--The Gov o Ban commissioned at least one of these (maybe two) and i'm sure GCM itself, produced one.
-As in any underground mine, there was the expected water aquafers, and varies models had been demonstrated that would successfully manage them--including bore holes around the mine footprint to abstract some of the water and then reintroduce further away, back into the underground system- (or something on those lines)
-Either way all the studies proved that the water could be successfully managed.
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-Now after a decade on inaction, the country is looking down the barrel of a gun, as both energy and FX reserves are running out, and the finger is pointing squarely at the Prime Ministers Energy Adviser ---Mr Choudhury.
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-To deflect criticism, he has conveniently forgotten those study conclusions, and resorted to blatant broad brush scare mongering--the same thing he has been doing along--head in the sand and fingers in his ears, just saying the same old thing.
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-This time though, things have found him out, and there is nowhere to hide anymore.

--Things are hotting up between China and Taiwan, and a full scale invasion by China cannot be ruled out.
--With America paying a recent visit, tensions have been ramped up, and China is now flexing it's military muscle-----doesn't feel good.
-This has all the makings of a repeat performance of Russia and Ukraine, but with an even harder impact for the rest of the world.
--How can we stand by and watch another invasion by a authoritarian state, without taking the same measures as we have against Russia. Dropping trade and imposing all sorts of bans on China will be a huge blow to the worlds economy, and where will that leave Bangladesh ?
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-Will Hasina risk doing business with the likes of Power Chins in the middle of a world blockade.----She could be forced to choose between, trade with the western world, or power for the future of her country, ---and decision making has never been her strong point.
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-Her lack of action over the past decade has now come back to bite her, and if things don't pan out better than they now look, she will be faced with an impossible choice.
--Power outages are started to focus the minds of people in Bangladesh and with no end in site, things could escalate into unrest and worse.
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-Of course Hasina could always walk away and retire, but the problems for the country will not disappear.
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-Maybe trying to find another partner, apart from China, to develop and build the coal mine and power plants, is the answer ----but in these times, who would do it. ---Australia maybe ??

Quel ---$40 mill spread over 3 years = about £10 mill a year -or about 2p a share----
---so about a 5% return on today's (40p ) sp-----------just for the Pref Shares.
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-Yes you are right, any future Div on the New Ord shares will be "as well".

found this on-line---so looks like yes they can.
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-Tax treatment: As with ordinary shares, buyers of UK-listed preferred shares pay 0.5% stamp duty. The capital and income tax treatment is also the same as for shares, so they tend to be paid net of a 10% dividend tax credit.

ISA-eligibility: Most UK-listed preferred shares are eligible to be held in an ISA tax shelter or a self-invested personal pension (SIPP). (Read more on these wrappers in “The Difference Between ISAs and SIPPs”.)

That's a really good question Commando.----These new Pref shares have no SP value and are not tradable.---They come as a FREE attachment to your existing Ord shares.-------Therefore they should not alter your cash allowance for the year going into an ISA.---But of course it's whether the DIVI gets treated as part of the ISA (tax free).
-Don't know the answer, just asking the same question as you-------will be interested to know if anyone finds the answer.

----"I've been close to the project since it's exploration days"
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----Phulbari----you always talk as if you have/had some sort of inside knowledge---------------did you use to work for the Co ????

Jimmy---i don't disagree with anything you have said, ---its just that we differ on timing, --that's all.