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Looks like we can add another 172k to the volume traded today, due to a couple of delayed trades

Sorry, should of attached the link should anyone wish to take a look....

https://www.londonstockexchange.com/stock/GCM/gcm-resources-plc/trade-recap

So last year the highest value traded in a month was 878K in June, generally through the year it was 100k or less,

April – 26k

May – 69k

June – 878k

July – 140k

August – 87k

September – 104k

October – 70k

Then we started to rise …. What has changed to encourage this buying

November – 167k

December – 564k

January as we know we were in suspension, but when coming out, wow, what a change massive change in sentiment…..

February – 1.78 Million

March SO FAR ….. 6.42 MILLION, without today's added….

I wonder what could be happening to make such a massive change in the volume traded??

Answers on a postcard please 😉

Looks like a 9.30 close, up 10.71% on the day with a volume of 5.24 million traded......

Another good positive day forward!!

9.44 paid... Nice finishing to the day ;)

9.30 just paid along with 5.1 million traded so far... again another great volume day...

Looks like once again we are rising into the close again... famous last words, it will probably drop back now hahhahaaha

Minister of Energy Mention Phulbari .... what he actually said was he will be presenting his findings to the Prime Minister in APRIL and approval will be sought!

"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. "

Recommendation for open-pit coal mining

"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."

Sorry for repeating, but just thought it was worth reiterating its importance.......

"As the electricity demand increases after the winter, load shedding is also on the rise, with people experiencing power outages in parts of the country for seven to eight hours daily."

" Yet, fuel shortage disrupts power generation causing load shedding whereas the government cannot also provide adequate taka and US dollars to import fuel."

https://en.prothomalo.com/bangladesh/cf56q0fush

Looking good 2 million traded already, so should be a good volume day.... level 2 at 9.00 - 9.50 but looks like we may be ready for a step up to 10.00 :)

“The government has set a target of generating 2,865 MW of electricity in May-June with coal without Adani. Of this, 325 MW will come from Barapukuria. It will be 2,540 MW from imported coal. Apart from this, Adani's Kodda power plant is expected to get 750 MW of electricity per day from March 26.

But the government is unable to import coal and LNG as it does not have the necessary dollars. As a result, no preparations are being made to deal with the upcoming summer load shedding.”

“According to Power Division sources, there is no shortage of production capacity to meet the power demand. However, there is a shortage in the supply of coal, LNG and fuel oil for power generation.”

https://www.dailypost.net/national/dollar-crisis----load-shedding-scare-again-rise/7501

I am sure he won't mind me doing this, but here is another re-post from Pappi on the 12th March at 8.10am

Reading that article from yesterday 'Fulbari holds $83 billion worth of coal and $17 billion worth of other resources' the company has told us it will take 2 years to strip the overburden and get to first coal, so my simplistic first thought was so if we roughly dig a third to start there is going to be almost $5billion in cash flow in the first 2-3 years before we even get to the coal, So ichecked it out with someone who would know how this works though mine was a simplistic view it was on the right track the way the overburden business actually works is it would be stripped over the 30 year mine life it's an ongoing process a prorata estimate would be appx $500m a year at little cost (other than some processing and stockpiling } as the mine carries the extraction cost, what this means is that we could have positive cash flow in months after starting the overburden removal

Just thought it was worth re-posting this from the excellent article from Pappi's posted this morning for those that may of missed it, -

A summary of Interview with State Minister for Power, Energy and Mineral Resources Nasrul Hamid :-

1) “Country's coal mines will be presented to the Prime Minister by April and approval will be sought.”

2) Phulbari, Dighipara and Khalashpi all to be put forward as proposed mines to be developed

3) 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.

4) If coal extraction is approved at this stage, it will be possible to lift coal within the next three years by starting mining work.

5) 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.

6) Recommendation for open-pit coal mining

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

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

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

Sorry, that was in reply to Grundles post ;)

Doze, I may be wrong, but as i understand it, i do not think so, and as it is now the Nomad doing the dd, i would imagine that they are happy with the situation.

I am sure i will be corrected if i am wrong lol

Blumagnet, translated its another reporter asking the value of all Bangladesh's mineral resources .......

"What is the secret of mineral wealth in North Bengal? What is the price of the country's natural resources, mineral resources and reserves?

This Bangladesh is full of mountains, forests, canals, rivers and canals. The evergreen country is rich in natural beauty. Although not big in terms of size, this country has several natural and mineral resources including gas, coal, iron, limestone. It goes without saying

Bengal's natural beauty is rich in minerals. However, this country is not dependent on mineral resources. However, this country has some natural resources such as natural gas, coal, fuel oil, limestone, gravel, shale, uranium, glass sand, porcelain, hard rock, peat coal, brick clay, peat, beach sand, heavy pearls, heavy metals and lime stone- - Scattered all over the country.

Some of which is being extracted - the rest is buried underground. The government has taken various projects to utilize these mineral resources. Meanwhile, oil fields have also been discovered in this country. And a large part of the country's mineral wealth is in the northern region. Why are there so many mineral resources in this region? Are they more expensive than gold? And how much is the price of natural resources in Bangladesh?

How are so many mineral resources stored under the soil of the region? Is it possible to extract all these resources? With the answers to these questions, I have prepared this episode with the introduction of mineral resources of the country."

Recommendation for open-pit coal mining......

The PR started much before just the last few weeks imo, and even as far back as 2022 when the questions were put forward in their houses of parliament in front of all the MP's ?? ...

In his tresponse, State Minister for Energy, Power & Mineral resources has said, want to make response giving some information on this. There are 5 discovered coal fields in Bangladesh: Barapukuria, Phulbari, Dighipara, Khalaspir and Jamalganj. We can extract coal from Phulbari by open pit mining method. About 90% coal can be extracted removing overburden materials. Currently we are mining coal from Barapukuria at a daily rate of 1500-2000 tonnes through underground method. What I have said, open pit mining is only feasible in Phulbari. Other deposits are to be extracted by underground method

https://www.energybangla.com/open-pit-coalmining-possible-at-phulbari/

Yep, YKIR, I was discussing it with a friend earlier, and said to them, its no different to when you have events like the budget in this country, all the news is drip drip drip fed out to the public, so that when it actually does get announced, its no great shock to anyone …. Bangladesh is no different, and imho, this is exactly what is happening at the moment …. Lets see what news follows up from this interview with the energy minister …..

From Pappi's post, a summary of Interview with State Minister for Power, Energy and Mineral Resources Nasrul Hamid :-

1) “Country's coal mines will be presented to the Prime Minister by April and approval will be sought.”

2) Phulbari, Dighipara and Khalashpi all to be put forward as proposed mines to be developed

3) 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.

4) If coal extraction is approved at this stage, it will be possible to lift coal within the next three years by starting mining work.

5) 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.

6) Recommendation for open-pit coal mining

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

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

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

It really is positive to see such an in depth article. Thank you Pappi for talking the time to translate it...... Even GCM get a mention lol

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