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Can’t be long now....

The Executive Chairman of GCM, Datuk Michael Tang PJN, stated:

"I am delighted that the second the JV Agreement has now been completed and would like to express my sincere gratitude to the POWERCHINA team for their support and demonstration of commitment to the Company's integrated mine and power plant project.

By finalising this Second JV Agreement, we are now at a stage where partners have been found for all of the proposed power plants of 6,000MW in total, and are parties to joint venture agreements. I anticipate that this will facilitate the submission of the Company's proposal to the Government of Bangladesh, and am pleased with the progress being made."

'93pc people get power supply'

“Prime Minister Sheikh Hasina, earlier, said her government would light up every house by boosting the power generation.”

https://dailyasianage.com/news/168949/93pc-people-get-power-supply

Excellent find Pappi... this really is a major step forward, even just for it to be talked about in parliament is a positive... and its also good to see all the positive comments on the Facebook link afterwards

Thanks for posting

The broker note was total BS, and after reading it, anyone who has spent longer that 10 minutes researching GCM would know that ....

BD-China trade to hit $18b mark in two years

https://thefinancialexpress.com.bd/economy/bangladesh/bd-china-trade-to-hit-18b-mark-in-two-years-1552742734

Bilateral trade between Bangladesh and China, which accounted to $12.40 billion in 2017-18
, is expected to hit $18 billion mark by 2021, according to economists.

President of Dhaka Chamber of Commerce & Industry (DCCI) Osama Taseer disclosed it on Saturday when Ambassador of China to Bangladesh Zhang Zuo paid a visit at DCCI auditorium in the capital.

Urging Chinese FDI in "RMG product diversification" and allied transfer of technology, Taseer said Bangladesh’s ‘Look East’ Policy is essentially designed to open up new avenues of cooperation with China and the ASEAN region.


He also urged the world’s second largest economy for quick implementation of duty free, quota free market access to Bangladesh.

Zuo said China has recently passed the new foreign investment law which is more open and flexible for foreign investors.

In 2017-18 China's FDI to Bangladesh increased and China has invested more in Bangladesh than any other countries, said he.

China is one of the largest partners in mega infrastructure projects in Bangladesh, said Zao adding that about 200 large Chinese companies and 200 Chinese SMEs are in operation in Bangladesh.

He also sees Bangladesh’s vast potentials in fields of blue and coastal economy.

The Chinese Ambassador invited DCCI members to attend the Shanghai Import and Export Fair 2019 in November.

DCCI's Senior Vice President Waqar Ahmad Choudhury, Vice President Imran Ahmed, Directors Andaleeb Hasan, Alhaj Deen Mohammed, Enamul Haque Patwary, Hossain A Sikder, Engr. Md. Al Amin, Mohammad Bashiruddin, Nuher L. Khan, Shams Mahmud and S.M. Zillur Rahman were present.

Commercial Counsellor of the Chinese Embassy Mr. Lv Yang accompanied the Ambassador.

That's a hell of a trade... nice to see someone has picked the sell up.....

14-Mar-19 12:14:46 2.55 1,767,422 Sell* 2.50 2.65 45.07k O

It looks like positions are being taken for the next news, with buys starting to turn up.......

Looks like Hasina may be going to China early, it says in this article she’s going in March or April ....

https://newsbase.com/topstories/summit-power-invest-us6bn-bangladesh

“Meanwhile, Prime Minister Sheikh Hasina plans to visit China in March or April during which she will seek financial assistance to improve Bangladesh’s transmission infrastructure.”

Free power, energy sector from graft, ensure transparency

http://www.newagebd.net/article/67042/free-power-energy-sector-from-graft-ensure-transparency

He emphasised rigorous attention of the government to addressing corruption and irregularities, and lack of transparency in the power and energy sector.

He also said that it was the high time to pay attention to the primary energy sector particularly domestic gas and coal.

Set power, energy tariffs on market basis

http://www.theindependentbd.com/printversion/details/190957

“About the future plans for the country’s power and energy sector, the minister said, “I want to move very fast. Our economy is moving very fast and it demands the country’s power and energy sector to move fast,” he said.”
“Speaking on the occasion, Rehman Sobhan, the founder chairman of the CPD, said, “Prime Minister Sheikh Hasina is in charge of this ministry, so to take any major decision, the power and energy ministry does not need to waste any time.” “You can take the most effective and timely decisions here,” he said, addressing Nasrul Hamid.”
“Being a local gas-based mono energy nation for the past four decades, Bangladesh was caught unprepared with an energy crisis when the trend of depleting gas reserves was confirmed. Even though a good amount of coal reserves is known to occur in north Bangladesh, local coal could not be used immediately as an alternative to gas because of the absence of sufficient coal mining,” he pointed out.”

Well hopefully they will be changing that very soon!!!!

Speakers stress transparency for sustained investment in energy sector

https://unb.com.bd/category/bangladesh/speakers-stress-transparency-for-sustained-investment-in-energy-sector/14280

Japanese power firm to expand in Bangladesh

Presently, Bangladesh's power generation capacity stands at around 20,000MW and the government has set a target to increase it to 24,000MW by 2021 and to 40,000MW by 2030.

“Our new branch office will engage us more in Bangladesh. We can set up high-efficiency gas turbine and coal-fired power plants more now, helping the country's development eventually,” said Kawai, who joined Mitsubishi Heavy Industries in 1979.

The office will progressively strengthen the company's sales capabilities in the coming projects, especially those based on thermal power facilities, planned by both the Bangladesh government and the private sector, Kawai said.

He said the five power plants installed by the MHPS were capable of generating 40 percent of the country's power generated by large turbines.

Kawai, who will be promoted to the post of the global chief executive officer of the company next month, also talked about technology transfer and know-how by the MHPS to Bangladesh.

“Thanks to our own presence, local companies and experts will immensely benefit from our technical know-how.”

The MHPS will transfer technology along with skilled Japanese experts more to Bangladesh, setting up power plants and maintaining them, which will help the country's young engineers and individuals enhance their knowledge, said Kawai.

https://www.thedailystar.net/business/news/japanese-power-firm-expand-bangladesh-1712917

Mmmm well I know that there is a lot of negativity with some here at the moment, and I can understand why, but I’m quite happy to put profits from else where here and build a decent position while we are at these prices...

Holding in Company San Leon Energy plc, the AIM listed company focused on oil and gas development and appraisal in Africa, was informed on 5 March 2019 that funds managed by Toscafund Asset Management LLP held 336,171,927 ordinary shares in the Company, representing 66.46% of the issued share capital of the Company, following the purchase of 24,350,000 ordinary shares on 4 March 2019.

https://www.investegate.co.uk/san-leon-energy-plc--sle-/rns/holding-in-company/201903060700079534R/

Integrated master plan for infrastructure needed: Nasrul

"The state minister said steps will be taken to extract local coal by using modern technology and protecting environment and consultation will be made with local people so that they are not affected in any way."

http://www.bssnews.net/?p=173858

Cleaner Coal Technology for Bangladesh

https://www.ge.com/power/bangladesh-usc

Massive progress in power

https://www.bangladeshpost.net/massive-progress-in-power/

Full article thanks to a poster on the ADV FN board http://www.phronimoscap.com/news

Posted on the GCM board think they are keeping its powder dry for a big slice of our pie. https://docs.google.com/a/phronimoscap.com/viewer?a=v&pid=sites&srcid=cGhyb25pbW9zY2FwLmNvbXx0M3N0aW4xfGd4OmQ0Yjk3MTNkMjA3MzU4ZQ Phronimos Capital Urges Polo Resources Limited to Return Capital to Shareholders February 13, 2019--On January 28th, 2019, Phronimos Capital, LLC, ("Phronimos") acting on behalf of beneficial shareholders of Polo Resources Limited ("Polo" or the "Company") (LON: POL), transmitted a letter to the Board of Directors (the "Board") of the Company outlining several proposals that we believe will be beneficial to all shareholders. Clients of Phronimos and other concerned shareholders of Polo supportive of the proposals outlined in the letter (including a return of capital to shareholders via a tender offer at 10p-12p per share), currently hold approximately 14.0% of the total shares outstanding