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Hasina HAS also agreed to dig up her own coal in her election manifesto!!!!!

Surely they simply can not afford to keep on importing with this growth in use, especially if coal use continues to grow as predicted.....

" To avoid similar setbacks in 2024, authorities have directed electrical power generators to use more coal, and have approved record large coal imports."

"The country already receives regular thermal coal supplies by truck and train from neighbour India, but in 2023 also boosted seaborne imports by 47% to a record 12.7 million metric tons, according to ship tracking data compiled by Kpler."

"The county's power suppliers have struggled to keep up, resulting in regular power outages last year."

https://www.reuters.com/business/energy/bangladesh-power-system-gets-dirtier-rapid-coal-use-growth-maguire-2024-04-04/

Bangladesh power system gets dirtier on rapid coal use growth

Bangladesh power firms more than doubled coal-fired electricity generation in 2023 from 2022 to a record 17 terawatt hours (TWh), data from energy think tank Ember shows.

The sharp jump in coal use relative to natural gas use resulted in a large swing in the country's electricity generation mix, with coal accounting for a record 21.1% share of total generation, up from just 7% two years before.

https://energy.economictimes.indiatimes.com/news/coal/opinion-bangladesh-power-system-gets-dirtier-on-rapid-coal-use-growth/109036658

But lets focus on Investment. .... Yes PLEASE lets!!!!

Equity raise: 100% certain..... YES, we hear you and we all have known about since Jan / Feb time when the SP was about 2P... YES about 2p

Equity raise: Potentially won't happen until end of MAY!! (FACT!)

BUT .... Personally I hope it happens tomorrow, just so we can get back to focusing on the investment without this daily carp......

Once GCM has done the fund raise though, I am sure you will try to find something else that you feel is negative to focus on..... Jeeezzz this is getting boring!!!

And there's another .... the buyer is doing well to get hold of these today, as its such a slow trading day

2024-04-04 11:54:53 7.44 100,000 £7,440

Nive 200k buy :)

2024-04-04 10:10:16 7.498 200,000 £14,996

I was then thinking, what’s happened to Mr Professional this morning, or is he suffering from his hangover thinking wtf have I done 😂😂

Morning mankiniparty, looks like everyone is waiting for Monday now, so expect a quiet end to the week ..... unless a new article or news pops up of course hahaha

YouKnowItsRight, of course you are right mate… So much news to potentially come that could be released at any time!

Also, as you say, next week is the new tax year where many will be wanting to take positions in their ISA’s with their new allowance, so we should hopefully expect to see a rise early in the week imo!

I really don’t get why some are getting so hung up about the fundraising and playing into the shorters hands. It may come tomorrow but it may not come until later because it’s not actually needed until the end of May. Anyone who was at the AGM will know, as was reported back here, that they already have backers who want to be involved, so it’s not like raising the money is an issue or a worry, and to be honest whether they get a discount or pay at a premium I personally think it’s almost irrelevant. Knowing how close the news could potentially be and could break at any time, I know that I’d rather be holding than not, rather than trying to save a penny or two on the entry price…… Also everyone is assuming that whatever price they do a FR at, the SP will drop back to that price, well that’s not actually true… when we had the last FR at 1.65, from memory I believe that the SP dropped back to only about 1.90 ….

Anyway, GL to all whatever your strategy

"Bangladesh continues to witness frequent power cuts, lasting for an hour or more in one go, particularly in rural areas"

"Bangladesh should not have a problem with meeting the power demand given its current installed generation capacity of over 26,000MW.

But the installed capacity remained unused because of the dollar crisis. Bangladesh cannot import enough gas, oil and coal to run its power plants."

https://www.newagebd.net/article/229476/power-demand-soars-past-15000mw

Sir KingClough, how are you mate, I hope your well? MUD tells me your having a life of luxury 😂😂

I could break down some of the You Tube link mate, and I’m sure it’s very positive, but just wanted to have a professional take a look to confirm 😉

As per the conditions of the loan from the IMF, it was set as a target to hold $19.26 billion in reserves in March 2024. But actual reserves are less than $16 billion

https://www.tbsnews.net/economy/imf-stresses-meeting-forex-reserves-target-get-third-tranche-47b-loan-822311

Looks like another delayed buy ;)

2024-04-03 15:05:20 6.90 112,500 £7,762.5

This just shows the relationship between Bangladesh and the Chinese now ....

Chinese Ambassador to Bangladesh Yao Wen on Wednesday said Bangladesh and China have exchanged the feasibility study reports on free trade agreement (FTA) between the two countries last week, which he sees as a major development in Dhaka-Beijing economic and trade cooperation.

https://businesspostbd.com/national/dhaka-beijing-exchange-feasibility-study-reports-on-fta

Looks like with buying now at 7.33 we have bounced nicely away from the resistance :)

I bet that has caught a few out :)))))

I literally can't wait to see and get back the full transcript of this video posted earlier, just to see what else is being discussed apart from mining, Open Pit Mining at Phulbari and also to see what else is being said about the , Feasibility studies, the Resettlement of the people , the Compensation, the Land acquisition, and Water studies and proven technology.. ;))

https://www.youtube.com/live/8dkeTN0cuds?si=97SCAz5fpLKvYcN-

Well by highlighting the Chinese in her statement when she hopefully mentions Phulbari, it would be a great way for Hasina to be able to give the green light with less negativity......

You just never know..... ;)

I may be reading too much into it, BUT what i found interesting in another article was the follow statement.......

“Mentioning that China is the great development partner of Bangladesh, the Prime Minister hoped that the cooperation which is going on between the two countries will strengthen in the days to come.”

Then later in the article .....

"The development partnership between Bangladesh and China will be strengthened further," he said.”

https://www.businessinsiderbd.com/bangladesh/news/40333

More pressure on Bangladesh to get their energy situation sorted......

Half a million Bangladesh citizens would slip into the category of ‘extremely poor’ in FY 2022-23 and 2023-2024 as their purchasing power was almost wiped out on account of inflation that is expected to touch 9.6 per cent, trounced by weak consumption.]

“Weak private consumption growth and high inflation have halted poverty reduction. Higher food prices particularly impacted poor households, which allocate over half of their budget towards food expenditures,” said the World Bank’s poverty macro update for the country.

The World Bank defines those as ‘extremely poor’ who earn $2.15 a day or less.

In more bad news for the dispossessed in Bangladesh, another 8.4 lakh are expected to join the category of ‘moderately poor’, their purchasing power parity (PPP) pegged at $3.65 a day.

https://www.firstpost.com/world/poverty-soars-in-bangladesh-driven-by-food-and-power-inflation-13755744.html

I know that I am being very blase and joking about it, BUT in all seriousness it could quite easily be just as simple as that!! One day very soon we are hopefully going to be woken up with a similar headline, but with Phulbari and Open Pit Mining in the title ... :)