Member Info for rickyroman

you've done well with your trading last week - smart work.

Tang has been clever too and I like the sound of a loan from Polo, 99% expected a cash call and with some neat footwork he has got around that hurdle.

Short-term loan and definitive dates + an election in-between. 6000MW of the lowest cost electricity in Bangladesh - sounds like it is finally coming together.
Tang has mentioned additional partners - could this be the funder...EXIM Bank or similar.
A lot to play for now.

….bees, have to disagree with your valuation as that would make the company valuation over half a billion pounds.
Moving ahead, we will have some great partners, but they will be in control as they have the cash and engineering expertise to build the power stations and mine the coal.

It is easy to get ahead of ourselves, but a licence is only worth what someone is prepared to pay for it and that is with 'carte blanche' ready to go approval. We haven't even got enough cash to go out and buy a Komatsu excavator, we are entirely dependent of our partners for everything. Stepping back for a moment, does Michael Tang want to be on site everyday with his hard hat and hi-vis ? Of course he doesn't. He's in at 170p / share and I see a valuation of the Phulbari licence @ c.250p / share - £250-£300 million which will still make him a very wealthy man. Even with their acknowledged break-neck speed, the Chinese consortium will take at least 2 years to build the powerstations, mine and associated infrastructure. Hopefully, we will be long gone with a nice wedge of cash.

...I thought the same, building the power stations but no mine !! Oh yes, and we will import the coal.
Clueless, half these people posting would struggle to know where Bangladesh is.

...you could be right, but I think we have more and more aces up our sleeve, Think about the other power projects in Bangla, as GP's article showed, they are all mired in the mud of poor or non-existent finance, poor planning and probably corruption.
When you were at Asia Energy did anyone have any idea how the project was going to be financed ?? Even b your sceptical standards, PowerChina is 'one helluva' of a partner to have on board and inclusion in the Belt & Road initiative will be Gold Star recognition. All the other power projects rely on imported coal and gas - light years away with no terminals or deepwater harbours.
We have 500 million tonnes of high grade thermal coal, accessible by opencast mining, right below our feet.

Hasina has her eyes firmly fixed on re-election, however, even she cannot fail to realise that this is the one mega project which could actually succeed.

Whatever the outcome, we do not have long to wait......

..unbelievable and Rampal has been on the go since 2013.

Hasina must look at these numbers and think 'nothing will be achieved in my lifetime'.

Maybe the appalling performance of her department and the contractors employed, will be the wake-up call to allow Bejing to initiate the mining and construction of Phulbari. She's been backed into a corner by her incompetent ministers and hopeless civil servants.

Weekly updates - sounds like panic creeping in !!

...bees, I hope Michael Tang is working towards a bit more power generation than 6KW/
My fan heater is 2KW, so to power up the whole of NW Bangla on 6KW would be a bit like the miracle of the 'loaves & fishes'.

...from Michigan State university this morning about the huge environmental and financial cost of hydropower. Whilst Europe and the US are dismantling more plants than they are building, there is a rush for hydropower in Asia, Africa and South America. The report is highly critical and may just impact on the thinking in Dhaka.

Ultra Super critical technology - I like the sound of that.!

I wonder whether the delegation went up to Barapukuria and saw the workforce digging with shovels. Its so easy to under-estimate the technological impact of China in Bangladesh. Interesting the speed with which this PFS has been done.

CGGC have done their due diligence (which I am sure they will have) the fact that we are moving ahead means the coal (570 million tonnes) exists. Lots of figures for the various regions have been bandied aout. Ours at Phulbari was the best quality and the most accessible. the JORC figures said 570, maybe it more.
Alexios, I'm not going to disagree that Polo & Dyani will have a dominant shareholdeing. Not sure they are going to be able to 'nick the company' but I will be surprised if they offered less than 300p . / share.
I experienced the same with Vedanta last month. Price was languising at 600p and Anil Agarwall bid 825p and got the rest of the equity. It was a 'steal' but I don't think we felt ripped off, it was just the right market conditions for him to buy - cheap.!

….are losing their status …..INVESTEGATE sheds a bit of light.

GP you are getting like an old record sell up, sell up. I don't think your purchasing track record is anything to get excited about and my guess is that you could lose a lot of money if we fail to get a deal.

Anybody with an ounce of intelligence would say this is a risky share to be in, hence the price of 14.5p

Last fundraising at c.34p - a lot of people got burned on that - its not a 'done deal' whatever you may think.

….our NOMAD bails out just as GCM announce another dilution. Dyani sitting on 20% of the stock and with an additional monthly allocation, was this pushing the boundaries of AIM rules ? After due consideration, did a red-light flash on at Northland.

I don't really care what Michael Tang gets up to but don't shaft us long-suffering holders. Too many times I have been left holding worthless stock - African Minerals, Oxus Gold, Beacon Hill Resources et al.

So, by my calculation, we have Polo with about 25% of the stock, Kilkenny at 10% and Dyani at about 20%. Is there anybody else with a substantial holding ? There are no assets apart from the licence which belongs to GCM.

If we go bust because no deal materialises, administrators are appointed and licence will end up with third party - whoever that is. With African Minerals the Chinese were already earmarked as beneficiaries of the assets and that's exactly what happened - Chinese 1 Shareholders Nil.

We have to be realistic as this could happen but we do have an AGM next month to press our board for answers.

OR - did Northland just get fed up with not being paid and are quitting - simple as that ????

….these are the facts of life with GCM - as for dilution. the company won’t get the GL without the Chinese. The company won’t get the Chinese without Dyani. Dyani won’t do it without being paid. We have no cash reserve so are having to pay them with equity......

...probably time for a few faint-hearted to bail out, like Hollie has done. This is looking more and more an uphill slog with Hasina dithering and with her only focus - re-election.

The small element of interest for me is the suggestion of three mine mouth power plants, each of 2000MW. I'm not a power generation engineer, but why would you do three, when there are huge economies of scale with one 'super' 6000MW plant. It could be a red-herring to deflect criticism from the 'greens' or it could be that there will be one mine mouth and two satellite plants connected by rail and feeding from Phulbari.

These are all huge engineering tasks, way beyond the capabilities of the Banglas or GCM. The economic, engineering and financial might of Bejing is the only way this project will ever happen. Be thankful the Chinese are on side and for President Xi's 'Belt & Road' initiative. Other factors in our favour are the continuing high prices of
thermal coal and furnace oil (diesel) for their generators...….

...why would I want it lower, I'm already about five grand behind. I want it back to 30p +

...down the drain.

GP remember this is AIM. We had a rights issue at 32p+ and we are now at less than half that price. We have no news, a Prime Minister who seems detached from the reality of creating a modern society. There is no guarantee this is all going to end well. I was happy whilst there was some information 'drip feed', but now nothing. If its top secret but with a deal in sight, this would not be languishing at 15p.
We could still be here in March with no news, but a single digit share price.

A tricky one...….

...over on IG the sell price is 15.41p for an SB, but looking fairly grim here on LSE.
I'm now concerned we are going to run out of cash, Michael Tang has no hope of getting another 'rights issue' away, the dilution and lack of tangible progress would scupper that avenue.
Hasina has probably taken fright from the 'climate change report' and continue to sit on her hands - ie. doing nothing.
Tough times for all us shareholders......

…….16.15p to sell - jeepers, 19p like johnknows, long gone. With no news due to the imminent elections, guess 9p and even lower when Tang reveals we are running out of day to day cash.

Maybe this is their (Bangla) tactic, beat GCM into submission, then steal the company - been done many times before.

...it takes ten years to create a coalmine and start production. That should read - it takes ten years to write a coal policy and two years for the Chinese engineers to build the mine and get it operational.

Fusion - you are right, there will never be a £10.00 party, but let's hope Michael Tang does get the go-ahead for the project and quickly sells the licence / company. Anything over 150p and you won't see me for dust.

….jeez, I didn't know CGGC had built the Three Gorges project, then dealing with Phulbari and its water problems will be like 'a walk in the park' for them.
If we can just get it signed off...….Is Hasina waiting until after the elections...I have a feeling this may be the case. Or, is she going to drop and bombshall and give the project the green light in the next few weeks.
I give Michael Tang 10 out of 10 for finding some serious partners for the mission ahead.

….an even better partner than CGGC if Tang can pull this off:
…... is a world-leading integrated engineering construction group that provides one-stop services covering planning, survey, design, construction, construction management, investment and operation in energy & power sectors, such as water conservancy & hydropower, thermal power, new energy and power grid, in water resources management & water environment projects, and in infrastructure fields. POWERCHINA claims its power development (in planning, design, construction, etc.) capacity and performance tops the industry worldwide
One-stop shop at this level of infrastructure is what we, GCM stockholders and Bangladesh need.
I like the sound of this.

Stop fretting about Dyani - only 100 million GCM shares in circulation, majority tightly held....its nothing, at £3.00 that only values the company at £300 million.

…..of the unmentionable. Talk your way out of that one Michael Tang.

….sentiments, but I am sure Dr Khatum is just orchestrating yet another round of committees who actually do nothing. The reality is that there is little or no information coming from Michael Tang, no updates and the RNS are so ambiguous, one can interpret them as one likes.

Coal ships in the Sunderbans, transporting coal to a power station with a mine next door, a self serving government who seem incapable of making the right infrastructure decisions Padmah and Rampal being just two examples.
Next RNS - GCM has a new Indian partner...