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Phulbari
Do you think that Power China would have entered into their agreements with GCM is there was the slightest chance of Hasina vetoing the whole project?

And, if you do, could you explain why PC would have wasted all this time flogging a dead horse?

intenebris,

Excellent message. Couldn't have put it better myself.

(You know me from meetings I arranged with AB in Eastbourne Mews. Hope you're keeping fit)

Just for the record, I think it is highly unlikely that we will get an announcement of a deal being signed this week. In fact I don't think there will be the GL RNS before the end of this month .... or even before the end of September.

Why? Because of Tang's comment in the AR of "over the coming months" phrase. That to me indicates it is more than just three or four months away before we find a mining partner.

These deals are complicated. So forget about moving to a bigger house, buying a second home or placing an order for a must have electric vehicle in the immediate future.

There are more positives than ever before and things are moving in the right direction .... but slowly.

Maybe I'll be pleasantly surprised.

Mmm ... won't they have very large and dependable energy requirements?

Oh, I know they'll decide to import coal rather than use the high quality low sulphur resource on their doorstep.

Are you drunk?

Show me where one respected organisation is forecasting nickel at $60/lb.

Apologies. It should be NDAs!

But perhaps DNA (Do Not Announce) is more appropriate! :-)

The longer the silence continues the less trust and faith I have in RY and his board colleagues to deliver what we think is a fair price for our shares given the in-ground value of our asset. What's the reason for that statement?

What happened to the media week promised for the end of last year?

What happened to the "strong news flow promised early this year?

What happened to the replacement of the director's monthly share buying scheme?

Why couldn't the previous one just be extended/continued?

I have now - reluctantly - started to feel that we have been mislead by all the above verbal promises made at presentations and in interviews. Deliberately? You decide.

Some may say that doing deals is a complicated process and procedure and unforeseen delays occur. I know that and so does RY.

So why does he make so many ‘promises’ of what he expects to able to do in the near future? Why doesn’t he just keep his mouth shut?

Oh I can 'hear' all the interjections about people being sure that there are non DNAs in operation. How do they really know that? Be so sure that there are? Or is it just what they fervently hope is the case to justify them clinging to their assumed explanation for the long silence and to keep their optimism afloat, however waterlogged the straws are they're clinging to?

Or is the long silence merely serving the wishes of vested interests who are using the time to manipulate the situation to their benefit at the expense of longterm loyal shareholders?

I have been around the block a few times and have ridden over very similar potholes in the road as some might suspect are developing here.

Oh, I’m sure we will get taken over or joint ventured with a major player(s) in the nickel market, but at what price?

How many longtermers would bite the hand offering 30p/share just so that they can move on and feel satisfied they have made a 'decent' profit and can put in operation their future plans? And I’m sure that for many this share is the foundation of their future plans.

I would like something well above 50p, but £1/share? In my opinion, forget it.

To quote a graphic comment on another board, 'We have got more chance of turning Ayres Rock into a chocolate muffin' than we have of getting £1/share.

This post will no doubt provoke a 'feeding frenzy' of counter posts and allegations of deramping. But to the few whom I have met at presentations at AGMs they might be view this post as a genuine expression of what I feel right now.

Let the 'feeding frenzy' commence. I hope there will be some truly constructive counter arguments rather than nonsensical one-liners.

Maybe this post will preface an RNS within the next few days of an announcement of funding for the road and/or other infrastructure developments required to advance the project. And if it does, no doubt I shall get some childish nah, nah, nah comments.

"I think it's nodded off !?
I think rigor mortis has set in!

An extract from the RNS:-

"These conditions indicate the existence of a material uncertainty which may cast significant doubt over the Group's ability to continue as a going concern. Based on the current progress of the negotiations with potential investors and providers of finance the Directors believe that the necessary funds to provide adequate financing to continue with the current work program on its Kun-Manie project will be raised as required and accordingly they are confident that the Group will continue as a going concern and have prepared the financial statements on that basis."

Hopefully that will blunt the negative comments on the future viability of the company

"Reliable sources"?

Who are they and how do you know that they are reliable?

And your proof that "buys are showing as sells" is?

Who is this "investor" DocPhil9?
Sounds like a pile of moopoo.

I'm experiencing the same problem as a poster on the ADVF* board when on my MacBook Pro.
I keep getting a message about an internal server error and can't open the chat board but can get the live prices.
It works OK on my mobile.
Any ideas as to what I can try?
No response from LSE yet.
Thanks in advance.

An extract from the Interim Results:-

"Outlook

Over the coming months, the GCM team is looking forward to progressing negotiations with a large international coal mining company to partner with the Company in mine development, to work with its partners to finalise the submission to the Government, and then consult with the Government to finalise an agreeable proposition which is amenable to all parties."

"Over the coming months ..." Given the missed deadline of the 28th February, those words were chosen very carefully. To me that says that there is not likely to be an announcement very soon. My guess not before the July this year.

" ... looking forward to progressing negotiations ..." I interpret that as not being in an advanced stage of negotiations. Again, I don't expect an announcement within the next two to three months.

" ... to finalise the submission ... " of what?

" ... and then consult with the Government to finalise an agreeable proposition which is amenable to all parties"

I just hope that with all the apparent urgency to get Phubari started to achieve the GoB's declared targets on its energy policies that agreement will be reached very timeously.

Any comments from the better informed and rational thinkers on the board?

I think his promises should be called ... Easter Beggs!

Proof positive, in my opinion, that the share price is being deliberately manipulated for the benefit of entities unknown, possibly to the detriment of private investors.

It is so cynical and blatant!

Good post CF73.

"Outlook

Over the coming months, the GCM team is looking forward to progressing negotiations with a large international coal mining company to partner with the Company in mine development, to work with its partners to finalise the submission to the Government, and then consult with the Government to finalise an agreeable proposition which is amenable to all parties."

"Over the coming months". To me that is saying that it will be a few months before the proposals are submitted to the GoB. Have I misinterpreted that?

The following quote from the RNS is purely to justify the fees paid to Dyani:-

"The new contract with Dyani Corporation (Consultant), agreed in October 2018, paved the way for rapid progress in developing further relationships with Chinese State-owned enterprises during the period. The Company aggressively pursued a relationship with Power Construction Corporation of China Ltd (PowerChina) and a technical pre-feasibility study (PFS) was completed by PowerChina on 6 November 2018 which provided a high-level technical examination on developing water-cooled ultra-supercritical thermal power plants at the proposed mine site, generating 4,000MW."

"aggressively pursued a relationship with Power China". Window dressing in my opinion. I would imagine the aggression came more from the Chinese.

We still don't know who the owners and directors of Dyani are.

Food for thought.

GPback, are you sure about that?