Member Info for rickyroman

..I don't know if Nick Cooper or any of his 'confidantes' read these BBs, but we are well and truly hacked off with Ophir Energy. Talk about destruction of the value of our investments...this is on a biblical scale. its easy to say 'you could have sold' but we were meant to be on the cusp of a billion dollar financing deal to develop Fortuna......pah !! You are going to need to pull quite some rabbit out of the hat NC.

....that's the heart of the issue Mr McToad - they haven't, because they don't know what they are doing. They didn't explore for gas in the Bay of Bengal, but left it to Chevron. Why because they don't know what they are doing. The Banglas get 'gold' for one think - forming committees, Actually doing anything, they are hopeless at. That is why they now need to get the Chinese, Malaysians and mining experts from Oz on board - TO GET PROJECTS MOVING. Take a look at their latest Green Developments Conference - a load of well-meaning scientists who don't live in the real world and spout 'pie-in-the-sky theories, before returning to their universities to write more useless theses. Of course solar energy is brilliant but now is not the time and place for it to be in the vanguard of Bangla's energy mix. This latest news is great and Hasina does not have to worry - the groundswell of media acceptance is gathering momentum. Rock on Phulbari.....

...she's very nice....didn't know she was an investor. Or maybe the other Meghan - Royal Seal of Approval before we know it.............come on GCM this is getting boring. Nearly March and we have heard nothing since the AGM, apart from the Bungla Post publishing Gary Lye's interview. As Mick sang - I'm just trying to make some sense.... ....I'm not waiting on a lady, I'm just waiting on GCM...........well, not quite, but you get my drift.

...Mr McToady - there is, they say, no certainties in life except death and taxes.....and there is no certainty about GCM. Four years ago this month (Searcher GP and others will remember) Hasina was set to make an announcement about coal usage in Bungla, there was a frissom of excitement and the share price rose rapidly from 18p to 48p. She did make an announcement ' that the coal would remain underground for future generations'. The SP tumbled and two years later was 3p. We sit and wait.- but there is no certainty about what is going to happen.

I am surprised he is still about. I would have thought by now he would have mysteriously 'disappeared'....a bit like Argentina under General Galtieri in the 70's.........activists........up in a helicopter and never seen again........

....I have just re-read the interview between Gary Lye and the Bangla Post - no two ways about it, this is positive news. He has laid out succinctly all the things that are important - the urgent need for long-term fuel supply for the power stations, why a mine like this would benefit Bangladesh for decades to come and the environmental impact and how this will be addressed. What caught my eye was him stating that the project had in essence been approved but that the Power Ministry continued to go off at a tangent with their thinking ie. imported fuel. 'Government has already approved our project, but for various reasons we cannot start mining' - that is a bold statement !! Maybe this is starting to 'rock and roll'............next few months could genuinely be interesting.

80% of my portfolio is in copper, so reinforcing the case for the red metal is good news. The Banglas are going to need a lot of copper and a lot of investment and that is going to be coming from China, Japan and Malaysia. Are these big investors going to allow a drastic hit on the Banglas 'balance of payments' to import huge quantities of thermal coal when they know there is 30 years of high quality coal on site - on a risk analysis basis, can't really see it. The ball is now firmly in the court of our potential partners, maybe by June we will have an answer.

....his post was probably meant for the GGP board....where he hangs about. All in all, with the decimation across other markets, we are doing alright. The question is - will Hasina make a decision this side of the election? We have a lot in our favour with rising coal prices and shipping rates. However dozy or sycophantic the advisers are, those figures do not bode well for a country rapidly adopting 'a coal for energy policy' - Phulbari has to be the future. This stock is currently priced to fail - not to win. The upside is enormous, downside now limited.

.....that has been a struggle, but I took a punt on 30K @ 4p, so finally in the money. People are getting excited about Hibiscus, which I know nothing about, but more interestingly, Polo owns a chunk of Weatherley, the copper miner.

...on Friday. Just two years ago it was $37 tonne. Could start to get interesting now.

....sounds like a few of our more enlightened 'posters' are keen for the SP to fall so that they can get back in. If you bailed out at 25 / 26p expecting a fall to 18p, you are probably getting a bit twitchy as with everyday which passes, our case gets stronger..

...all this activity and nothing about Phulbari.............are we tantalisingly close or still in the doldrums.??

Government to make energy hub at Phulbari. The GofB are definitely into spending money and getting on with things, though its inevitable we will all start to get a bit twitchy if there is no confirmed news by Jun.

....that nicely defuses the situation for other parts of Bangla too ie. Phulbari. If the locals know what is on offer with job prospects for the younger men and women.....might just get a groundswell of public opinion in favour of these giant projects. Dare I suggest things might be slowly moving.

..well, that sounds a potential 'pinch point' - unloading a bulk carrier anchored somewhere off the coast....onto tiny carriers to navigate a shallow draft waterway. The logistics, the cost, the potential for disaster!! Oh yes, this sounds like Bangladesh.

....Payra does seem to be underway with 1500 Chinese and 4500 Bunglas on site. I think what really adds emphasis to our cause is the now tight relationship between Bangladesh and China - the newly formed Bangladesh / China Power Company and the EPC is all Chinese.- encouraging stuff. Bees. I am sure you are right and the sooner we get bought out the better, then Bungla and China can carry on their relationship without the concerns of a third party - us !! I have very modest ambitions for this share and anything north of a 100p would make me happy. I was badly ripped off when Shandong seized African Minerals mine at Tonkolili, so I am wary of 'snakes in the grass'..............I don't want GCM going the same way.

...400 tonnes / hr / MW....that is a fair old wallop of high grade thermal coal - 2000 tonnes per hour for a 5000MW never mind 9000. There must be someone with a brain advising her....but where do they get these schemes from ?? I'm surprised they haven't tipped up to bid for Rio's Australian coal mines which are on the block with Glencore / Apollo a likely purchaser. That would be the next crazy thing they do. The GOB is having to borrow to fund any initiatives......Phulbari with CGGC in control would probably come with the finance in place. The good news is they need to do something as time is slipping away from them

...has anybody checked the credibility of the Bungla claim / aspiration. Instead of focussing on who or what Dyani may be, take a look at the Bungla soundbite of a 9000MW thermal power station. Bungladesh would have the largest thermal coal power station in the world, a title currently held by the Taiwanese at 5500MW. Complete fools, they struggle to get an additional 250MW out of Bara, can you imagine the amount of thermal coal to run 9000MW.....they would need a conveyor belt from Newcastle in Queensland....and the fuel its currently $100 / tonne. Pipe dreams....next week it will be nuclear, the following week solar. Just leave it to the Chinese to sort Hasina and worry about something else.

.....I think we are all a little jaded by the GCM experience, but fretting about Tang and Dyani, Bees & Johnknows is a waste of time, you are far better off selling up and moving on. I have seven shares in my portfolio - four big hitters Rio, Anglo, Vedanta and Antofagata - yes, I like copper and particularly the outlook with infrastructure spend globally and the EV revolution. I also have three duffers - the 'always' jam tomorrow companies - Ophir, Polo and GCM. Asia Energy / GCM I have been in since 2008 and if someone had told me we would still be kicking around 'mining Phulbari' in a decade, I would have been in disbelief. But....importantly, this will be resolved in 2018 as neither Tang, Dyani or CGGC will ponce about after the studies have been completed and presented to Nasrul Hamid. He will have to take the case study to Hasina with a recommendation. If she procrastinates, sits on her hands and does nothing, then we can forget about any progress until after elections in 2019. CGGC will probably walk away and if that happens then Tang's only route will be the International courts. Why was 6000MW put in the Polo report - that is a massive power station and a big increase from the original 2000MW. I find that intriguing. This will probably go sub-20p.....top up or good money after bad - the million dollar (literally) question. I think you should hang in there mate.

...that's a big chunk of stock and while the management have turned the company around (+ a little help from commodity prices) he has done this for a reason. My guess is that he senses Anglo will be hit by a bid from Glencore or Mick Davis if he can resurrect his funding. Agarwal will be sitting pretty if assets have to be sold in a hurry to trim the debt. With this share you need to be brave - I have 3000 @ 805 and when it dropped to 785p last week, I had to hold my nerve !! - Jeff Currie at Goldman thinks commodities are going to fly in quarter 2...long term target by Goldman of 1500p......bit of a wait for that I think.