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Hi Fusion98, I hope you’re keeping well.

I’m guessing from your statement today then that you’ve changed your mind from your recent post with in the last week and now would no longer expect the licence to be worth at least £1 then?

I’m just wondering what has changed your mindset?

Thanks.

Probably not until after the election, but soon Bangladesh will have no choice but to follow India's lead, in saying that coal will be playing a big part of their energy needs for the foreseeable future and Bangladesh will have little choice but to mine their own coal (imo), because they simply can not afford to continue to import .....

"The share of coal in the energy basket is going to remain significant in the years ahead to ensure affordable energy availability, coal and mines minister Pralhad Joshi said. ''In India, the transition away from coal or Just Transition is not happening in the foreseeable future,'' the minister said."

https://www.devdiscourse.com/article/headlines/2742383-transition-away-from-coal-not-happening-in-the-near-future-govt

Just how much is owed to energy company's in Bangladesh, the list is endless!!!!

Power cos float on reserve as govt struggles with dues

https://www.dailymessenger.net/business/news/11320

Worries there, but still hopeful election will be fair: Chunnu

https://www.tbsnews.net/bangladesh/politics/worries-there-still-hopeful-election-will-be-fair-chunnu-754446?amp

Let’s hope that Chowdhury has been spreading the message to government ministers about how important this is to the country!!

After reading this article from the end of November I wonder if India will stop exporting coal??

https://www.bangladeshweekly.com/india-opts-for-coal-comfort-in-meeting-power-demand/

BD-China Power Company risks getting defaulter tag

The BCPCL managing director, A M Khurshedul Alam, told the FE Tuesday that the payment delay was happening due to shortage of foreign-currency reserves.

"I won't fail to make the payment of 6th instalment," he said, adding that the company paid another $6.0 million on Tuesday and could pay $10 million more Wednesday.

He said the BCPCL gets five days extra over the scheduled date to make the payment. "We won't face penalty," says Mr Alam.

Acknowledging the risk of being marked as defaulter he said, "If we fail to make payment in time, the bank won't release funds for other projects as well".

https://today.thefinancialexpress.com.bd/first-page/bd-china-power-company-risks-getting-defaulter-tag-1701798131

Trading again by the looks of things ...

The realisation that things will hopefully change with energy situation regarding fuel supply issues and using the country’s own resources after the election seems to be reported regularly now, lets hope the press reporting is part of the bigger plan!!

"Now the realisation should dawn on the policymakers that dependence on imported fuel is a situation the economy can't afford. There has been zero movement on proven deposits of coal and probable natural gas reserves in the country. The authorities have no answer to this quandary except to do everything possible not to go for serious exploration. The idea of affordable energy is apparently not on the priority list. Hopefully, priorities will change after the national election."

https://thefinancialexpress.com.bd/views/columns/economic-impact-of-mounting-gas-problem

Good to see another positive day….

Hopefully we have now put the all time low SP behind us and will now see a steady climb north as we head to the election in January 🤞

Now I’ve said that we will have a red day tomorrow 😂😂

Please don't hold me to it becuse I may be mistaken, but I am sure that I heard on the news that at COP 28 they are discussing the options of increasing the price of fossil fuels to discourage countries from using them in the future, if so this would be an even stronger argument for Bangladesh to mine their own coal.....

If I am correct there will surely be something written about it later so we'll try to find an article on the subject ...

It should be noted that this statement is not just some Journalist's opinion, it is said by the State Minister for Power, Energy, and Mineral Resources, Nasrul Hamid Bipu, MP

The line that stood out to me was ....

“We will start working on setting up super critical power plant to use our own quality coal.”

https://www.dailymessenger.net/business/news/11043

This article is mostly about gas, but it does highlight that it’s exactly the same problem with coal and the fact that the government can no longer continue to import and that hopefully after the election their stance on exploration on own gas and coal will change ….

Economic impact of mounting gas problem

“There has been zero movement on proven deposits of coal and probable natural gas reserves in the country. The authorities have no answer to this quandary except to do everything possible not to go for serious exploration. The idea of affordable energy is apparently not on the priority list. Hopefully, priorities will change after the national election.”

https://today.thefinancialexpress.com.bd/editorial/economic-impact-of-mounting-gas-problem-1701434606?amp=true

This is just not sustainable ... imo

Bangladesh: Thermal coal imports rise nearly 20% m-o-m in Nov'23

https://www.coalmint.com/intel/bangladesh-thermal-coal-imports-rise-nearly-20-m-o-m-in-nov23-26800

I wonder what’s with all the small trades this morning at 2.00 ? Most of them only total a few pounds worth, not even enough to cover trading costs 🤷‍♂️

What ever happens they will have to do something before March, but hopefully the share price will be in a very different place by then so there will be less dilution

I am not sure that Michael Tang or Power China would agree with your thoughts....

Wow..... up 60% ..... It's been a long wait, but this feels just like the old days ......

YouKnowItsRight, Just to emphasise your point there was this article in the ft a couple of days ago....

Net foreign exchange reserves now less than $16.0 billion

https://thefinancialexpress.com.bd/economy/bangladesh/net-foreign-exchange-reserves-now-less-than-160-billion

Looks like the writers of this article need to learn maths, but nice to see Open Pit Mining getting a mention for a change!

“According to Petrobangla sources, large-scale initiatives have been taken to extract more coal from the country’s coal mines. Among these, steps have been taken to verify the feasibility of open pit coal mining in the northern and southern parts of the mine to extract more coal from the Barapukuria coal mine. If the survey is positive, 170 million tons of coal can be extracted in the next 28-30 years at the rate of 6-10 million per year, Petrobangla said.

Besides, a survey is being done for the development of Dighipara coal mine. Meanwhile, reserves of 706 million tons have been confirmed in the mine. The revalidation survey was conducted in August last year by DMT Consulting, a UK consultancy. The issue of Dighipara coal mine development is currently awaiting the decision of the Department of Energy and Mineral Resources. https://dailyindustry.news/local-coal-dependence-reducing-in-bangladesh/