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Just reading back the End of Year Accounts, and for new comers I have pulled out these two paragraphs …….. If you are new to GCM, the whole report is definitely worth a read, just to get a understanding of just how big this project really is!!

“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.”

“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. This communication is two-way and an overview of what would be expected in the Project Proposal has been shared.”

“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-ended-30-june-2023-mbppkize9au4ebz.html

The title of the video is .........

"The grand plan to raise coal The world's largest coal mining venture"

https://www.youtube.com/watch?v=wxKMGz2u_mk

Right, need to go and see if i can translate the video from earlier now lol.... and although news in the press is slow at the moment due to Ramadan hopefully there will be something new there as well ......

Looks like 9.30 close....

No problem mate... just look in the Bangla press for research, and you will also see that the last couple of months, the Energy Minister has now said soooo many times that Phulbari open pit mining needs to be done to solve the energy crises now because they will run out of Dollars to pay for the coal they import

Nasrul Hamid said 3,000 tonnes of coal is currently extracted daily from Barapukuria. There are more possibilities and it is possible to extract 8,000 to 9,000 tons of coal a day.

"We will ask for the Prime Minister's time in a special way. We'll show him. If he is satisfied, we may start the work of Dighipara and Barapukuria. We have two proposals in Barapukuria. Some parts have to be open pit and some parts have to be underground. ”

Recommendation for open-pit coal mining

Considering the energy crisis and future energy security, the energy division plans to extract coal from three new coal mines – Phulbari, Dighipara and Khalashpi.

The state minister told BBC Bangla that among these three, Phulbari can be made open pit and the remaining two are underground.

There are two main methods of coal extraction. One is open pit mining or open pit mining. The maximum amount of coal can be extracted from the mine by this method. A company named Asia Energy (now GCM) has recommended open coal extraction from the Phulbari coal mine in Dinajpur. Phulbari has 572 million tonnes of coal reserves at a depth of 141-270 meters in the ground covering an area of 24 square kilometres.

Opposition to an open approach

"If the Ministry of Energy had the national interest, our future and the security of our people and the importance of our water resources in their heads, they would not have such thoughts," he said. The government has moved on a disastrous path to provide benefits to local and foreign companies. Coal-based mega projects have been done. Now there is a crisis of imports, it is going to take another disastrous decision to solve it.

Expert opinion

The use of coal in power generation in Bangladesh is constantly increasing. According to the government's master plan, 10-11 thousand megawatts of electricity will be produced from coal in the near future. A large amount of coal will have to be imported to produce this electricity. For this, Bangladesh has to spend foreign currency every year. It is also estimated that the current international market price of coal can exceed six billion dollars.

In this situation, energy experts see the need to take a quick decision on domestic coal extraction.

Fre1, this is from the interview .....

New open pit coal mining initiative in Bangladesh

Bangladesh is preparing to extract its own coal to reduce energy crisis and import dependency in the future, where there are also plans to extract coal in the open system. The proposal of the Ministry of Energy for the high-level decision of the government will be finalized in the initial phase of coal extraction of three mines of the country.

So far, five coal mines have been discovered in the northern part of Bangladesh. These mines have 7,823 million tons of coal reserves. Twenty percent of this coal is extractable, amounting to 1,564.6 million tonnes. This amount of coal is capable of meeting the energy demand equivalent to 40.6 trillion cubic feet of gas.

BBC Bangla has learned from the Ministry of Energy that a proposal based on various surveys and feasibility studies conducted in the country's coal mines will be presented to the Prime Minister by April and approval will be sought.

The future of Bangladesh's coal resources will be determined on the basis of the decision that will come from the higher level after analyzing the proposal. If coal extraction is approved at this stage, it will be possible to lift coal within the next three years by starting mining work.

Of the five coal mines discovered in Bangladesh, only one is extracted from Barapukuria. Since 2005, coal has been extracted on a commercial basis in the underground system. The Barapukuria coal mine has 410 million tonnes of coal reserves. Barapukuria Coal Mining Company Limited (BCMCL) has no approved plan to extract coal after 2027.

State Minister for Power, Energy and Mineral Resources Nasrul Hamid told BBC Bangla that if the decision to extract coal is not taken, there is a possibility of the closure of the 500 MW coal-based power plant in Barapukuria.

. We are working in Barapukuria. We have to do it again. If we don't, our 500 MW power plant will be shut down. In the next two years. We have to extract coal there. ”

In February this year, a meeting was held at the Energy Division to discuss the progress and proposals for five coal mines in the country. In the presentation given to the state minister at the meeting, it was recommended that coal mining can be done in the northern part of the Barapukuria coal mine in an open manner.

Its this April.. mate, my typo .. sorry

Fre1

THis is from a recent BBC interview with the Energy Minister

“BBC Bangla has learned from the Ministry of Energy that a proposal based on various surveys and feasibility studies conducted in the country's coal mines will be presented to the Prime Minister by next April and approval will be sought.”

Connect44, see my message below lol

Connect44, when they are short of stock you have to phone your broker and they will go straight to the markets... online is a nightmare for trading when the shares are in demand ..

"This time, the energy department has adopted a new plan to meet the needs of the energy sector with domestic coal. A new plan has been adopted to lift the country's coal."

I'll try and find time later, but basically its just saying that the government are going to mine the coal that has been found in Bangladesh and he goes on to explain how it will be done .... I believe .. lol

"The grand plan to raise coal The world's largest coal mining venture coal mining in Bangladesh

Coal accounts for 26.5 percent of the world's total fuel consumption. And 41.5 percent of the total electricity produced in the world comes from coal. Australia, India, China and the United States have the highest coal consumption in the world. But coal is a major cause of climate change use Big countries were withdrawing from coal as the world's 'dirty fuel'. But due to the increase in global energy prices in recent times, various countries are giving priority to coal again. Evergreen Bangladesh is surrounded by abundant life - there is no end to the form of this country. And the people of this country are proud of such a country. It is said that Bangladesh is another name full of natural resources. The world's largest coal mine is also found in this country After that, coal has to be imported to meet the fuel demand of the country. And the government has to spend a lot of money here. This time, the energy department has adopted a new plan to meet the needs of the energy sector with domestic coal. A new plan has been adopted to lift the country's coal. What does that plan include? or how the coal will be hoisted. With the answers to these questions, I have prepared this episode with the beginning of coal mining in the country."

Afternoon SGbaby, hope you are well mate.....

When we went to the AGM recently, Gary Lye did indicate that, that is exactly how he expected the news to be broken to the market, and for what its worth, i agree with you, we are at step 1 / 2

From what press we have seen recently, we have had more reports mentioning Phulbari, open pit mining should be done than I have ever seen, and certainly for all the years that I have been invested, which is too many to remember lol, I have not seen Energy Minister, Nasrul Hamid mention, Phulbari and open pit mining should be done so many times, even a recent BBC radio interview, Ministry of Energy, Nasrul Hamid, said that Phulbari should be mined along with other mine in Bangla, and that he was going to "presented them to the Prime Minister by April and approval will be sought"

That's unheard of in all the years that I have been invested......

Also ... whats happened to Anu and his anti mob,... so far not a word saying anything negative... again, this is very unusual, in fact he also said in the interview that the GoB had driven themselves into a corner and really had no choice but to mine (or words to that effect)

Nice 200k buy just gone through… getting ready for another go at the 10p …

Will have to wait for a moment before we try, because we are in an Auction lol

Well looks like this 10p is taking some bashing to break through, but as sure as night follows day, imo it will give way very very soon, and when it does, good riddance to single figures for ever!!!

Nice start to the day with 10.50 already paid ;)

Hahhaha, trust me, you certainly would not want to hear my singing, and i'm sure that goes for a few of others i know as well .. lol

Hopefully today is the day that we once again break into double figures....

Evening mate, I’m honestly not sure if it includes those figures as well or not 🤷‍♂️ , as you say it appears that there’s a lot of accumulating going on here at the moment, and it’s good to see that they are generally having to take the share price up daily now to get their orders filled …. Hopefully this will continue!