Member Info for rickyroman

....and the biggest joke of all was it was one of Investors Chronicle top picks for 2013 - ha ha ha....and one of the top shareholders was a hairdresser on Mauritius.
Er ' - think we should have heard the alarm bells at that point...

BHP - what a fiasco wasn't it and I ignored all the warnings. Do you remember the trains and tenders painted in our colours, the access to the Beira line, shared stock-piling points for export to India. Then the never ending 'rights issues' which were sold straightaway and depressed the stock further.
One to learn from .......

...current value about £80K at a push and moving at £5000 a point.
Sounds okay, but you are already behind and if we had a dilution down to 10p you would be another £30K behind.
I had the same at Beacon Hill Resources - 500,000 shares which went from 16p to .0000001p - Coal, railways lines, dodgy directors - always 'jam tomorrow'.
We need that lucky break GP - you could be a very rich man and I would be quite happy, I could build a tennis court. In fact, you could buy Wimbledon.......okay, maybe not.

well, well - what was it like hitting the sell button then....................ha ha ha

...I don't think the 'doomsters / doubters' have the faintest idea of the intricacies of the negotiations going on here and Michael Tang is having to fight his corner in the full knowledge he has hardly enough money for the air fare home. The Banglas & Chinese negotiators know this too.
When MT organised the funding through to year end, he was obviously anticipating some deal by then and a dramatic uptick in the share price. Instead, he has a question mark over this date and a requirement to raise 'some' cash to keep the business solvent. Tough going for anybody else on this board who has built and run their own business.
I used to have a quotation from Gerald Ronson (Heron) pinned up in my office and it is as relevant to MT as it was to me.
'Never ever give up, nothing takes the place of perseverance'
He needs to persevere for all of us.

I guess you are totally clueless as to how business is done in China. Do you think Michael Tang hops on a plane and just turns up at the HQ of Sino/Hydro or whoever.
Does Michael Tang speak Mandarin, he might do but I bet he doesn't.
This is a $12.5 billion dollar project with Chinese gov. representation, Bangla gov. representation, engineering consultants, planner, financiers. etc...
I don't like another wait of 1-2 years, we may be royally shafted, but you are totally naive to think we could have done this on our own - we don't even have any money.

...have read it through carefully and we simply do not have any alternative but to run with this deal.
This is a massive, highly complex project with billions of dollars of funding. It appears to be on track (albeit at a slow pace) but Dyani seem to be keeping all the parties on the same song-sheet, no mean task. Dealing with Hasina and her ministers must be incredibly frustrating, all the time surrounded by chaos whether it is from Covid or ferries sinking in the river.
I truly do not want this to run for another two years and lets hope 'lady luck' finally sits on our shoulders and we get underway in 2020.

...maybe this is still a goer - Michael Tang & Dyani know better than anyone

...I agree with that

….reading that makes you cringe - you wouldn't let them run a corner shop.
The scams and fiddles must have been rampant and with no oversight from the Energy Authority.

It would be crass stupidity to leave the coal in the ground if there is a market for it.
What about looking NW towards India and selling them the mined coal and generating less MW at Phulbari for the national grid. I would caution this idea though, because with the Phulbari mine / generators there will be enormous economies of scale 6000MW is a massive amount of electricity.
My over-riding concern is that I don't trust the Banglas, they could nationalise / mothball the project after slapping an injunction on it and leave GCM high and dry. Our one saving grace is that Phulbari now has a narrow shelf life and if Beijing walks away, I expect it will be for good on any more coal fired projects.
Have the Banglas thought about a war in the Gulf and no LNG imports from Qatar - doubt it.

...now is the time to plan and build for the future, but of course the Banglas don't , instead they go off with their shotgun approach rather than a planned, targeted approach.
It all becomes a classic b*lls up and they have to get someone to bail them out.
In most cases it falls to China as no-one else is prepared to commit to their half-****ed, under-funded ventures.
Moving ahead they have a fully working LNG terminal, they don't have a deep-water harbour for coal. The existing LNG handling capacity will appeal to them.
Why hasn't someone put forward a plan to build a railway from Phulbari to the coastal generators + incorporate the 6000MW in-house generation into the national grid.
I think this would be a 'walk in the park' for he Chinese engineers, but I see the enthusiasm in Dhaka (if there ever was, any real) waning and Phulbari will be kicked into the long grass forever.
B&RI has created some massive power plants from Vietnam to Egypt but as usual, Dhaka left it too late and an opportunity was missed years ago.

..I think we had all better be prepared for some 'disappointing new; over the next week or so. Having looked at various SE Asian articles on-line, there seems to be a growing consensus that 'overcapacity' in the power sector is now the issue and particularly with Bangladesh.
A hopeless energy policy has meant 50% of the oil-fired generating capacity is standing idle and the emphasis is now on winding down future coal generation and a switch to LNG.
Its difficult to accept this may be the case but the lack of information and the ability of the Banglas to chop and change like the wind is worrying - we should have heard news by now. Korea and Japan have both pulled out of coal-fired generation finance, leaving just the Chinese to push on with this fuel type..
Out of five large AIM resource companies which were in my portfolio. four have gone bust over the last five years, I now worry about the fifth, GCM.
Hope for the best, prepare for the worst.

India & Pakistan falling out - expelling each other countries diplomatic staff - great, all good news....

Mahanadi open-cast coal mine in India - I bet our Chinese partners can do better than that. with excavating and then re-instating the land.
Lots of lovely jobs for the Bangla locals, revenue for the Exchequer - lubbly jubbly and everyone (except Anu(s)) will benefit.......

....yes, its good news about the massive trade deal China has done with Bangladesh and Chinese influence in SE Asia continues to cause concern and raise alarm bells in the US.
However, what has always baffled me, has been the lack of buying GCM stock, by the Banglas. If this was a sure-fire deal, they would have been accumulating stock (insider knowledge) and the price would be a lot higher.
Either this is a very tightly controlled negotiation, at the highest level or Hasina continues 'to sit on the fence' unable to commit herself to a project which will undoubtedly cause some political fall-out.
I looked at Sirius this morning to see if there were any parallels, but not really. Sirius spent £1.5 billion, failed to raise more money on the bond market which cut off access to JP Morgan's cash and Anglo stepped in and bought the whole lot for about £400 million.
We have probably spent about £10 million over twenty years, don't have access to funding and without our Chinese partners would be dead in the ground.
All still to play for.

...sounds good, need a bit of the same over the border.
Maybe it will - could the penny finally have dropped and the realisation that coal is here to stay for at least two more decades.

these surveys go back a long way. Was there a recent context for this information GP ?
I think its fair to say we are stuck in the doldrums at the moment and any real announcements will come from Dhaka first. We simply do not know where we are and its possible the submission of the project has not even been made yet.
'The Long Wait' continues.

but why, I don't see any good news apart from risky lifting of lock-down.
Unemployment to hit 3 million +.
I guess the market is expecting lots of QE and another inflated asset bubble.
Oh, and we're down 5% - ummmmm.

....health system collapsing, lock-down lifted and 2000 police offices in Dhaka alone, testing positive.
Even with China's help, they won't cope and the virus will soon spread out of control.
Probably keep a lid on Anu(s) but not good for coal planning and decision making.