Member Info for rickyroman

cheers mate...….

...where did you find the article regarding the rail connections from Rangpur to the other coal fired power stations. That totally is relevant to us and backs up Michael Tang's ideas for coal being used in other plants.
This is gathering momentum slowly and I firmly believe will now happen. The involvement of other parties - Petrobangla, the government ….who knows ??. Just be great to get the go-ahead and then for us to exit with a tidy profit.

….I took this from the Polo statement -
'As an alternative it would be possible to supply coal to other coal-fired power plants already approved and/or Initiated by the Government'
An obvious choice and would keep the coal within their internal market, reducing import costs and vagaries of the global market.
In addition, 'lateral thinking' like this will appeal to Hasina and make it easier to steer the huge infrastructure project through to approval.
Transporting the coal ? The Chinese are the 'masters' of current railway engineering, not an issue I'm sure.

...over on ADVFN - glad to see you have put my name up in lights.
You certainly are an intriguing character, I had you down as a Chinese national in lockdown in Wuhan....
Why Chinese ? Your grasp of the English language is not so good, your grammar and sentence construction both pretty dire and you sound reminiscent of the chappie who had Chinaman as his username.
Never mind, lockdown is easing and you should be free soon.
On that note, au revoir mon ami…...and thank you for highlighting my valuable contribution to the two boards.

...apologies for the missing quotation marks and the slight ambiguity of my opening paragraph. Cheers Ricky

we don't produce anything, we never have. We have a piece of paper, a legally binding piece of paper, but that is all.

We all know this could fall at the last hurdle, my current investment in GCM shows its value at minus 70%.
But, I like the story and I actually think Michael Tang is doing a pretty good job at pulling the various parties together. It is a massive project for Bangladesh if it happens.
If it doesn't, I lose ten grand...………….c'est la vie

I'm certainly not cashing out just in case but it looks dead to me.
MD - I guess you go under some other guise elsewhere....possibly Jupiter.
You are like that tw^rp over on ADVFN who said - oh no, more dilution...end of the world is nigh.
No mention, by you, that the project has catapulted into a $14.5 billion mega-project.
No, instead you focus on a bog-standard piece of accounting legislation, which has appeared on countless other interims and finals.
Please, for all our sanity, do sell up.

….that figure is not going to be suddenly sprung upon the Banglas, so I have a strong suspicion that the higher echelons of Government are more actively involved than we think. The level of planning and interaction for this project is enormous and I imagine DG are earning their fee (shares) helping to pull all the lines of communication together.
Certainly interesting times - can Michael Tang pull this off....!!

We have this incredible juxtaposition of tiny little GCM being lined up with a project of enormous scale with these engineering titans from China. It is slightly beyond belief that it could ever happen, but I think it is fair to say an awful lot has been going on behind the scenes and this must be part of the B&R Inititative.
As Tang neatly put it -
'This is a truly a "Mega Project" and is estimated to require some US$14.5 billion Foreign Direct Investment into Bangladesh to deliver the Project in its entirety. '
At least we are thinking big !!

...all credit to GCM for going ahead with the AGM.
I thought there was little chance of it happening and he (Gary Lye) is probably the right man to give you attendees, some factual answers.
Be interesting to hear what he has to say.

….cheers Sansav - on that basis, sounds like you get more protestors than shareholders.
Let's hope it does go ahead then, with a bit of security on the door.

...just catching up on the news and it worsens by the hour.
If it gets to the same directives as France, a ban on non-essential meetings, I can't see this getting to Friday. I 've never been to a GCM AGM, but I guess there are a hundred plus bods there - all crowded in a room - I don't think that's going to happen.
Long suffering shareholders - that's us !!

Foreign companies when there aren't any (at present).
......….Joint secretary (operations) to energy ministry) Dr Md Sher Ali said the government would take only 10 per cent from coal extraction.
The remaining 90 per cent would be enjoyed by the foreign companies and others, he added.
"We've increased the rate for raising revenue from the coal mining sector," Mr Ali mentioned.
In the scheme of things, Barapukuria is a tin-pot operation utilising poor extraction methods (long-wall underground), a captive market and inept management with a poorly trained workforce. . This is not what the Energy Ministry view as the future of coal mining in Bangladesh and we are not talking about Dighipara.
I rest my case.

24,000t coming from China.
I wonder whether this was coal mined in China or coal sourced in Indonesia / Australia and in transit from a larger vessel which had docked in China.
Dighipara, as IC99 points out, the resource may be 700 million tonnes, but the recoverable is less than 100 million tonnes. The capital costs of mining this by deep-shaft will be astronomical and I'm of the opinion this is a bit of Bangla spin and will never happen.

….at the contract award ceremony in May 2017 -
“We will develop the Dighipara coal field using underground mining method with more concentration on environment as well as welfare of local peoples,” said the state minister Nasrul Hamid.
Most articles at this time were commenting on the fact that Dighipara was the second largest coal field in Bangladesh, no mention of the largest, our one at Phulbari .
Now I'm filling in the gaps, the more I am convinced this is a parallel project and not a competitor to ours. The scale of the two is like chalk & cheese, 1000MW to 6000MW and I bet Dighipara is too small for B&R I.

13 hectare should read 13 sq km coal field - apologies

...was GCM completely blind-sided by the analysis going on over at Dighipara,
or did they feel it was just a side issue? Interesting to think that the world's most incompetent mine management team authorised the analysis - all the time being robbed by their employees.
Everything about Dighipara is small scale, 13 hectare underground field, recovery rates at maybe 10-15% from long-wall mining, 2.5-3 million tonnes annually. Do they intend to combine this with Bara and build a modern carbon capture power station ? Does this project fit the B&R criteria...………………………...is the whole thing just a pipe dream, a divergence and nothing will happen for a decade.
Is the GCM / PowerChina, CGGC and China non-Ferrous JV still a goer ?
I expect clarification soon.

GP - what doesn't stack up is the volume, 90 million tonnes over c.40 years is only 2.5million tonnes pa. Bara is producing 1 million tonnes pa.
I am now concerned as Hamid has opted for underground mining to protect he aquifers and arable land. Is this the sop to the residents to obtain their support and co-operation. Phulbari needs 15 million tonnes and that has to be open-pit extraction.
I am interested to know who would fund a mine and power station at Dighipara.
On costs, Rio have calculated 925 million dollars for a 300MW coal-fired plant at Oyu in Mongolia. So, that's a billion dollars for mine and power station in Bangla and with ??? MW output.
I guess our maxim has to be 'prepare for the worst, hope for the best'

….could be that 'Distinctly Rebellious' had decided to leave their calling card. All those ex-Met coppers with nothing to do now.
Totally expected this and the idea of having it in Dubai with a video link would have been the perfect solution.
Groundhog Day again....

Marv - logic would say so and maybe the time to launch this project on the Bangladeshis is now, while their focus is elsewhere.
However, logic and planning are not their strongpoints and I am concerned that all the half-finished power stations and dubious projects like Rooppur may mitigate against GCM and once more stall Phulbari. ie. we have enough in the pipeline and don't need this one.
Who knows, maybe all will be revealed next week.