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Could the 21st April be an important date, I wonder if on their agenda they will have -

Item one - Discuss using own coal resources?? - Either way the question has to be asked soon

1st Meeting of Standing Committee on Ministry of Power, Energy and Mineral Resources

Date: 21-April-2024

Time: 11:00 AM

Location: Bangladesh Parliament

Venue: Cabinet Room

https://www.parliament.gov.bd/meeting-details/78/1st-meeting

One of the MM's has set his sell price at £8.25.....

obviously an error, but lets hope its a sign hahahahha

InvestingGenius, from the RNS on the 11th March,

"The Company advises that working under the coal mine development MOU with Power Construction Corporation of China, Ltd. ("PowerChina") (refer to RNS of 28 November 2023), it has signed a contract with PowerChina International Group Limited covering mine development works of approximately US$1 billion necessary to facilitate coal extraction at the Phulbari Coal and Power Project ("the Project"). "

Excellent post Pappi.... you have to now believe that with all the recent press reports since coming back from their holidays, it seems that they really are running out of options and that mining their own coal now is becoming more and more the only option left....

That's obviously why the energy minister Nasrul Hamid has been shouting so loudly about it and discussing openly Phulbari and open pit mining....

Looks like the government are going to stop certain benefits on imported coal due to the IMF…..

“For the past 15 years, the government has been extending various financial benefits to companies from China and India. However, due to the loan conditions imposed by the IMF, the government is now hesitant to continue offering these policy incentives. Despite its desire to provide such facilities, the government finds itself compelled to withdraw from them.

According to reliable sources, last week, the 1320 MW Bangladesh-China Power Company (Pvt.) Limited (BCPCL), also known as the Payra Thermal power plant, which is owned by the China Bangladesh Joint Venture Company, has applied for an extension of the Advance Income Tax (AIT) deduction at the import level on imported coal until June of next year.

The AIT deduction benefit on imported coal for the ultra-supercritical system power plant is set to expire in June of this year. Recently, BCPCL has submitted a request to the National Board of Revenue (NBR) seeking an extension of the deadline for AIT deduction on coal. The two Chinese companies involved in the BCPCL joint venture are China National Machinery Import and Export Corporation and China's state-owned China General Technology.”

https://primenewsbd.net/get-news/29555

Looks like they have more issues with importing coal..

https://en.barta24.com/amp/details/business-en/221684/tug-of-war-over-matarbari-port

Https://www.newagebd.net/post/Banking/232946/bangladesh%5C%27s-gross-forex-reserve-dips-to-$19.89b

“Officials informed me that the plant needs about 10,000 metric tonnes of coal per day if it runs at full capacity.

If the payment against power supply is not received by the CPGCBL, it will be very difficult to continue the supply as the company has to import coal from abroad, said another top official of the plant.

Officials also said the government’s cash crunch might have been the main reason behind the non-payment of the bills submitted by the CPGCBL.”

https://unb.com.bd/category/Bangladesh/matarbari-power-plant-not-getting-payment-against-power-supply-to-national-grid/134113

The shares as we have seen over the last few days have probably already been forward sold into the market, so if there is any at all, there will not be a lot left!!

The placing shares may or may not even get admitted to the market tomorrow!!

From the RNS…….

“The Subscription Shares will be admitted ("Admission") to trading on the AIM market ("AIM") of London Stock Exchange plc ("LSE") on or around 19 April 2024.”

Even if they are the price imho will not drop because of these shares being entered into the market!!

Plus, there is obviously a natural bottom where Axis or their clients will not sell below, they are not going to sell at a loss!!

Hopefully this overhang will be done with soon and we can move forward!

All imo of course!

Thanks for the link crowfoot, but not interested in their opinion to be honest, they really do not like GCM, as has been seen from all their other articles, so not really interested in this one now either thanks :)

Okay, so rather than taking any one’s views whether positive or negative, lets look at the actual facts about volume ….

Volume traded –

Feb 2024 – £3.17 Million Pounds

March 2024 - £9.19 Million Pounds

April 2024 (so far) £3.17 Million Pounds

So, to date in 2024 we have had a total of £14.14 Million Pounds actually traded……

The share price has risen from below 1p to around 10p, if you discount the spike that we had when the PowerChina RNS was announced which took us to 13p.

From May 2023 to December 2023 –

In Total for these 8 months there was only £4.1 Million pounds traded….

So in the three months of this year we have had over three times more £ traded than we did for a total of 8 months, in 2023…..

And that’s why imo there is something going on in the background that we have still yet to hear about… Its simple for me to make a decision, I’m not only following my own research, I’m just following the money!

GL with whatever you decide 😊

Bangladesh gets 13 times more electricity from coal than from green energy sources!!

“It Is often reported that emerging industrial powers like China, India, Indonesia and Bangladesh are getting more power from solar and wind. But these countries get much more additional power from coal. Last year, China got more additional power from coal than it did from solar and wind. India got three times more electricity from coal than from green energy sources, Bangladesh 13 times more and Indonesia an astonishing 90 times more. If solar and wind really were cheaper, why would these countries not use them? Because reliability matters.”

https://ca.finance.yahoo.com/news/bjorn-lomborg-why-solar-wind-100053561.html

coal is a return to the real world!

“we have never used more coal and demand has gone up again in the past year. but we are planning and opening more mines than ever before, led of course by china.

china, along with a long list of players from greece to vietnam to ****stan to korea, “bangladesh” and japan are all opening mines. ”

https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/opinion/mikes-minute-coal-is-a-return-to-the-real-world/

😂😂😂 Professional, your posts really are class, I think I’ll join the many others that have already done so and put you on filter!!

I certainly won’t be missing anything important 🙄

Good post redeyes … and explains really well what happened at the last fundraiser as we discussed many times, and what’s probably happening now..

the positive is that they obviously want to make profit on their investment, so they are not going to take the price down further, and once they had finished the SP rose dramatically, as you have said in your post …

So a few more days at around the price we are, or above and then we move on up …. I think I can handle that!!

Recalibrate88, obviously just my opinion, but if we did not have a buyer in the background I believe that the 250k sell would of knocked the price, as it is the price did not change and Level 2 did not lose any strength with MM's backing off, so therefore i am hoping that any weakness with selling, they will be sat there picking up and adding to their holding... :)

With regards to the 1st Energy Ministers meeting of the new government taking place this coming Sunday, we know from the AGM that Gary said that PM Hasina was starting to attend some of the energy meetings herself, so there is a possibility that she will be there. Either way, I would be absolutely amazed if using own coal was not on the agenda to be discussed, but we all know how the Bangla press work, so I honestly do not expect anything to filter back to the press until later during the week. Then of course the documents will have to be put to PM Hasina herself, (if she does not attend), so there is a possibility that we may not hear anything until after she has decided to make the news public, that’s of course if she agrees with her ministers.

I know that I could be totally wrong, but I think Hasina already knows that this report is on its way, as I have said before, I just can’t believe that Nasrul Hamid, (the Energy Minister), would have been shouting so loudly in the press recently about using their own coal if he did not know that Hasina was happy with him doing so and that her mind was already made up! Nor do I believe that we would have had this buyer in the background for the last few weeks, if they had not already of been given the nod that the green light was coming….

All imvho of course….

I see we still have manipulation at its best going on with the delayed buy trades showing up....

2024-04-17 12:12:09 8.0151 111,150 £8,908.784

Great to see the buying continue this morning with 8.50 being paid ;)

Off into a meeting now, so if you could get to 9p by lunchtime it would be much appreciated :)

With buying right up to the close and over 9 million traded!!

Not really much more to be said to be honest, other than what a great recovery from the placing price given this morning!!

I think all our positive opinions over the last few weeks can now be justified!

Bring on some great press tonight, but either way, even if nothing is said tonight, bring on tomorrow!!

GL all 😉