Member Info for rickyroman

...for the catch 'apart from expansion of North-South extension part of Barapukuria Coal Mine, the government has also taken suitable measures to extract coal from discovered coalfields at Dighipara, Jamalgonj, Fulbari and Khalaspir.“
The gas is running out, the Barapukaria field is being extended, we are bang next door and as 99IceCream says ' Phulbari is the only realistic choice, its a 'prime coal field' for open pit mining, the best quality coal, while the others are too deep, too much water etc....
So, Michael Tang has been rushing around tying up operational finance for GCM, buying the stock overhang from Dyani via Polo and shoving the AGM into the long-grass for now.
What is he going to say, will they do a deal, will the company get taken private.....in true AIM tradition, will the shareholders get shafted ?
Certainly looks like it is going to be an interesting couple of months.

...this is Never Ever, Ever....going to be 900p
….even with the significant cashflow implications and we all agree, a fantastic project, there is 3.5-5 billion dollars of investment required and those lenders want some surety and interest on their capital lending. We are the junior party
so quickly select reverse gear and lets start at 150-200p.

Marv - I saw the slightly ambiguous announcement and concluded that it referred to Polo shares. I think from memory, Polo had about 300 million in issue.
Otherwise, it is simply an error.

...well, they have to hang their heads in shame. GP with his spectacular January RNS's (the SP went nowhere) Rocket13 and his TRiPe shares which finished down.
This month we are one year past the original presentation deadline, its time for some action from the consortium - no more excuses.
We have had the Bangladesh elections, Hasina and her eye operation, a visit to Barapukaria to tell the nation she sees no evidence of pollution from the mine.
This extra year will have enabled GCM/ PowerChina, China Non-ferrous et all to hone their plans and now deliver.
I feel encouraged that we have got this far, still intact. The energy ministry will have been informed and updated as the plans were evolving, our lobbyists DG have had ample time to court the right people...…...and Dyani ample time to do whatever Dyani do.
February - it is...…….time to rock & roll.

I'm pretty sure we won't see an RNS today - why should we ?
The holdings have all been squared off, shares issued, the presentation to the energy ministry is (I guess) nearing completion and I expect this to be made sometime in Feb.
J'attends.

I, for one, find the links informative and help provide a broad overview of the energy sector in Bangladesh.

...with Dyani holding 30%, the two directors could be like Del Boy & Rodney sitting outside Sotheby's - Rodney says 'that's just over £3 million each'...….
to which Del Boy replies ' well, we've had worse days'
Classic - and I think the Dyani directors will think this has been 'a right result'.
Getting closer !

….sensible summary over on ADVFN. There are plenty of us who remember the 'chilling' announcement of Feb 2014 which ultimately collapsed the SP to 3p.
'The coal will remain buried for future generations'. is what Hasina said.
Six years on and very different scenario. If the coal does not get mined / extracted imminently, then it will remain underground for ever. The CC activists and 'winds of change' towards fossil fuel are gathering momentum - for now, with Chinese financial and engineering muscle, she can get this away and Bangladesh will have a major constituent part towards its future energy security.

….this may be the start of a PR campaign to woo the residents and farmers in the region. The head of the government visiting and stating a hard hitting fact like that (even if its not true) is a big deal.
The 3-month extension to the MOU was the giveaway, three months is a short timeframe and indicates things are moving towards a conclusion.
What is that conclusion though ??

Altube - lower, lower, lower...…….okay higher, no lower

….and such illustrious company too..!!
Couple of things - I'm pretty sure that like me, Marv lives abroad. I guess GP lives in the UK - not much chance they are the same person.
Secondly, these boards are for a bit of friendly banter, not asinine mud-slinging. You've ended up being a parody of the very people you are mocking. Get a grip, these boards are really not that important - just discussion platforms.
Okay - back to my JCB and a bit of trench digging.

...this has to be the best post of the day over on ADVFN - chap called APFindley
….It was once a fairytale that seemed possible.But now, gcm are snookered. They should never have agreed to take part in the expensive power plants until they had sorted the phulbari mine finance and been given a permit to extract coal. It became a whole lot more expensive the moment the chinese entered and dragged gcm into more expense'
An interesting perspective - not sure this thinking quite stacks up though...

….all moving ahead nicely, remember we are 12 months behind with our submission to the GOB, so a small extension to the NFC / PowerChina MOU's is par for the course, Three month extension tells me we are on track to deliver the project details / Scheme of Development to the GOB / Energy Ministry by 1st April.
Interesting the EPC with PowerChina hs been extended by 12 months, that's the nitty-gritty stuff and planning is obviously moving ahead there.
Don't forget, this is a massive project involving CAPEX of billions and the re-location of maybe 50,000 + people. With such an economic transformation for the inhabitants of NW Bangladesh, reliable, fairly priced electricity will be an enormous boost for the region and Bangladesh as a whole.
With China driving it and Michael Tang being the slick negotiator, this project will happen.

Fusion - she was only re-elected a year ago, why is she suddenly quitting.
Hasina is careful enough to maintain her distance from the project until she is ready to endorse it - leaving it for another three years is not an option if she is to deliver the electricity she has promised the nation.
Nasrul Hamid is her mouthpiece as well as her energy minister and this is all part of a co-ordinated plan to introduce the 'Phulbari Project to Bangladesh.
To paraphrase Bill Clinton / George W Bush - 'this is now all about electricity, stoopid'.
No offence to you personally, of course.

….just what we needed to start the year. The situation in the gulf will escalate, so oil prices will be going in one direction if the Iranians kick-off. Makes those diesel generators expensive to run !

Is it finally going to be our time as we enter a third decade for the Asia Energy / GCM story? Just reading GP's post and link to the Chinese / Bangladesh forum yesterday, one would have to say our stars look like they are finally lining up. Phulbari is a massive, multi-year project and though I have every expectation that we will probably end up the junior partner, we will exit in due course. Michael Tang has 7.2 million share options to exercise by April, even at 100p that would make a reasonable payday for him, at 200p we are into some serious money but I realistically cannot see it going north of that. The capital investment runs into billions, but with a nice, steady, reliable income stream for decades to come, it is a very attractive opportunity for investors.
However, the company is short of cash, there are going to be large quantities of shares being 'paid' to suppliers, we await the report from China non-ferrous and then the proposal has to be submitted to Dhaka.
Still a knife-edge scenario going forward, but with positive comments from China of the inclusion of projects into the B&R Initiative, this really has to be our last shot at this ever happening...…
Keep the faith everyone, because I think it will.

….how could we forget Magic ! I remember buying an Alan Parsons Project album in the early eighties. It was pretty good and he was working with Pink Floyd at the time and you could see their influence on his style.
We could just do with a bit of influence on Hasina now. We did okay though, with the Climate Change meeting in Madrid being a waste of time and GCM deftly avoiding the 'bear-trap' of an AGM in London.
A lot to play for in the next few months.....

….you make me sad with your eyes
You're telling me lies
Don't go don't go
Its actually nothing to do with the month, but it's about a girl called January.
I think Pilot were a bit of a one-hit wonder(don't remember anything else they did) but produced by Alan Parsons who engineered for the Beatles on their final 'roof' gig and then for McCartney on the Wings album....

….it states that Hasina opened 7 power plants in November. These were probably mobile as many global manufacturers (Kawaskai, GE, Siemens etc...) make machines with a capability of 100MW.

I'll try and make sure I hook up to US cable FOX - that should balance my perspective......