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Praise the lord..... Give me all your money hahahahahha

I am sure that is an LSE error ;)

And there's another 100k delayed buy ;)

2024-04-10 10:36:40 9.21 100,000 £9,210

Mankiniparty, yes as i understand it you are correct

TerryDactil, When we find out it will be because we get a holdings RNS with what ever percentage it is that they have been buying for weeks now... imo

How they do it, who the hell knows, but there are far bigger forces at work here, than us ...

just an opinion

100k BUY

2024-04-10 08:03:31 9.20 100,000 £9,200

Looks like she is trying, with only one MM left at 9p now 🤞

GPBack, from memory (I will check my notes later) at the AGM, we were told that GCM would not issue an RNS to say that the proposal had been given to the government, and that because of the importance of the project, the first we probably hear would be from either Power China, or more probable Hasina herself making a statement in the press...

Bangladesh Oil Cuts: A Strategy or Not?

As a result, the country has started to gradually shut down its gasoil and HSFO-fired power facilities, signifying a major shift to cleaner energy sources including LNG imports and coal.

https://blog.tradedata.pro/bangladesh-oil-cuts-a-strategy-or-not/

I know that by some I will get accused of posting news that is already known, but sometimes it’s good to look back over the recent RNS’s from the company from 2024, just to remind ourselves how far we have come and how close we look to be..

There are lots of other positive points, but here are some picked out.

28th March RNS - Interim Results for the 6 months

"We are more confident than we have been in recent years that we are getting closer to a political breakthrough for the Phulbari Coal and Power Project. When this happens, we are ready to deliver the benefits and investment returns that our patient shareholders deserve."

https://www.lse.co.uk/rns/GCM/interim-results-for-the-6-months-ended-31-dec-2023-pc1h5h04wuxk1n3.html

11th March RNS - Phulbari Coal Mining Infrastructure Construction and Overburden Stripping Contract

"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"

Coal Supply Expressions of Interest:-

The Company has received Expressions of Interest to purchase Phulbari's coal from both of Bangladesh's current Independent Power Producers, being SS Power Limited that operates the 1,320MW Banshkhali power plant and Barisal Electric Power Company that operates a 350MW unit at Barisal (with plans to add an additional unit). These represent some 27% of the present market

https://www.lse.co.uk/rns/GCM/phulbari-coal-mining-infrastructure-contract-se8gl4nk3mhb9ng.html

29th Jan RNS - Final Results for the year ended 30 June 2023

Progress during the reporting period has been impacted by the political and bureaucratic focus being distracted in the lead-up to the National Election which was held on 7 January 2024.

“Nevertheless, GCM's Dhaka-based team continued to work with contacts within the government agencies to ensure the Company is in the very best position to engage with the new government once it is in place and fully functional within the 1st Quarter 2024.”

Throughout the reporting period and beyond, the Company's Dhaka-based team has maintained contact with the relevant government agencies and there is credible evidence that the "new plans" cited by the Honourable Prime Minister are being framed and that such plans are addressing domestic coal extraction and exploration efforts for new gas.

“This is exciting news for the Company, the Project and its Shareholders and efforts are being made to ensure we are in the strongest position to engage with the newly elected government within the 1st Quarter 2024 and deliver the Project Proposal which includes a large-scale Solar Power Park as an adjunct.”

https://www.lse.co.uk/rns/GCM/final-results-for-the-year-end

YKIR, looks like another couple of delayed trades just showing up, again both look like buys ....

2024-04-09 09:02:12 9.05 80,000 £7,240

2024-04-09 08:09:39 8.74 200,000 £17,480

Looks like the first delayed trade of the day has just shown up... looking like a buy imo

2024-04-09 08:29:30 9.00 133,500 £12,015

Morning Goonerpete, that could potentially be 6 / 7 weeks away mate, (although as i have said before i really hope that it is sooner rather than later)

Morning all, nice start to the day ;)

Also nice to see that on Level 2 the MM's are already stepping back to 9.75 :)

So, after reading this article in more detail, Bangladesh has total exports of just 1 billion dlrs, and their imports are running at around 6 billion.. That's crazy..... 2.5 bill of that is on coal, oil and gas, with coal accounting for 2 billion of that.

Phulbari could save them 1.5.. 2.0 billion of that, which would bring their balance of payments down to almost 4 to 1.

With a continual source of fuel for power, their manufacturing could continue unhindered by power outages. This could increase their exports and further improve their BOP.

Https://www.newagebd.net/article/229833/bangladesh-facing-challenges-in-attracting-fdi-iccb

YKIR, I would suggest that these orders are Bed & ISA's otherwise the SP would have risen a lot more than it has. obviously just an opinion

232k & 234k paid 8.55p & 8.6p

Just having a look at the trades it does seem like there are quite a few that are Bed & ISA trades going through, its just that some are showing as delayed trades to disguise this....

The real positive for me in this report, is the fact that Hasina is for the first time for ages, publicly shouting out about the energy crisis!

Well that's the Finance Division told form the Prime Minister herself.... I am guessing that's going to have a massive effect on their Fx position...

- Directive given to ensure power supply during irrigation season

- Finance Division told to clear all outstanding payments related to this matter

https://www.dhakatribune.com/bangladesh/government-affairs/343693/pm-orders-continuous-power-supply-in-villages

"Bangladesh is facing an energy crisis due largely to reliance on imported fuels which is estimated at about US$ 2.5 billion a year for power generation and also a lack of renewables and cleantech alternatives. In fact, instead of moving towards exploring renewable energy sources, Bangladesh turned to the use of more fossil fuels such as coal, oil and LNG. With a depreciating currency, a reliance on imported fuels for power generation has led to significant rise in power generation costs."

https://www.tbsnews.net/economy/inflation-bop-deficit-declining-reserves-among-bangladeshs-2024-challenges-iccb-825581

“Is this sustainable? Will it be affordable to the general population? Geoscientists argue that an overwhelming dependence on imported energy is not inevitable and the energy import may be scaled down to a reasonable level by utilizing local primary energy sources, mainly natural gas and local coal. An exploration and exploitation program for local energy sources may change the way Bangladesh's energy policies are designed.”

“Coal is going to be the prime source for power generation in Bangladesh in the next decade and beyond. The present contribution of two percent power generation by coal is likely to jump to 35 percent by 2030. The six or more large-scale (1,300 MW each) coal-fired power plants being actively pursued at present are to be fed totally by imported coal. Demand of coal-fired power plants is expected to increase from less than one million tons of coal per year currently to about 30 million tons per year by 2030.”

https://dailyasianage.com/news/322140/expenses-for-electricity-import-likely-to-rise-by-90