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Thanks for the link, Pappi, I just asked AI how this could affect GCM, here is the reply

How does - BNP plans to list public energy firms on capital market if elected effect GCM Resources?

Based on the article, the outlook for GCM Resources would likely improve — if the BNP’s proposed policies are implemented.

Here’s why:

1️⃣ Stronger Support for Open-Pit Coal Mining

The most important line for GCM is:

Mahmud also expressed support for open-pit coal mining, saying domestic coal resources should be included in the future energy mix.

GCM Resources is developing the Phulbari coal project in Bangladesh, which is based on open-pit mining.

Previous governments — particularly under the Sheikh Hasina administration of the Awami League — avoided approving open-pit coal mining due to political, environmental, and social opposition.

If BNP formally backs open-pit mining:

• GCM’s long-stalled Phulbari project could gain policy momentum.

• Regulatory approvals would become more realistic.

• Investor sentiment toward GCM could turn positive.

👉 This is the biggest potential upside for GCM.

2️⃣ Greater Public Sector Role in Power

BNP’s proposal:

• 65% electricity from public sector

• 35% from private sector

This could work in GCM’s favor if:

• The government wants to secure domestic coal supply.

• A state-owned power plant is built using Phulbari coal.

• A joint venture structure is formed with a public energy entity.

It may reduce reliance on imported coal and LNG, strengthening the case for domestic coal development.

3️⃣ Capital Market Listing of Public Energy Firms

If state energy companies are listed on the stock exchange:

• Governance and transparency could improve.

• Funding mechanisms may become more structured.

• Large energy infrastructure projects could attract capital more easily.

This indirectly benefits GCM if:

• A listed public power company partners on a coal-fired power project.

• The capital market becomes a funding source for coal development.

Yes!!!

This is really good for GCM, and Phulbari ;)

I am not sure how it closed yesterday, but interesting to see that we now have only 3 MM's below 10p now :)

This article is from the 12th Feb, obviously now we now know that the BNP won in Rangpur and that the Teesta River project is a manifesto promise to be started asap…..

Teesta plan takes centre stage in river basin seats

At election rallies in Rangpur and Nilphamari, BNP Chairperson Tarique Rahman said, “If BNP comes to power, the Teesta Mega Plan will be implemented.”

BNP candidate Asadul Habib Dulu of Lalmonirhat-3 said, “If BNP comes to power with the people’s mandate, the Teesta Mega Plan will be implemented. This is both my party’s promise and my election manifesto.”

https://www.thedailystar.net/news/bangladesh/news/teesta-plan-takes-centre-stage-river-basin-seats-4103961

Private sector leaders urge swift action as inflation, fragile banks and inconsistent energy supplies risk derailing investment

According to them, the first 100 days will decide whether the private sector regains its footing or sinks deeper into paralysis after months of political and economic drift.

Hossain also called for swift local government polls, revival of stalled projects, faster construction activity, dependable energy supply and shorter approval times to sustain positive international sentiment.

https://www.thedailystar.net/business/economy/news/rebuilding-business-confidence-cannot-wait-4106111

The 1.2 million x 2 trades are showing on the LSE site here as well ....

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

Let’s hope that really is the last of the placing stock gone 🤞

Not mine mate, I’m already fully loaded, all ready for the next push up north … .

Can’t be much of the placing stock left now….

Was that 400k the last available at this price range 🤷‍♂️

Guess tomorrow early doors will tell 🤞

16-Feb-26 16:33:56 8.65 400,000 Unknown* 34.60k

Energy a high priority!!!

Energy security, aligning fiscal and monetary policies, and strengthening banking reform will be most critical economic issues for the new government to be formed by the Bangladesh Nationalist Party, said economists.

People want the implementation of the electrical pledges overnight,’ said former World Bank Dhaka office chief economist Zahid Hussai

https://www.newagebd.net/post/country/291390/energy-banking-jobs-crucial-tasks-for-new-govt#google_vignette

This is amazing news, nice find Pappi ..

Looks like the date has been changed now, so it will be Tuesday before we find out officially…

https://www.tbsnews.net/bangladesh-election-2026/new-mps-cabinet-members-be-sworn-tuesday-bnp-chiefs-press-secy-1361876

I was just sat here thinking, I know that we are all a little confused as to what’s going on right now with the share price, etc etc, but can you imagine what it’s going to be like the morning that GCM come out with an RNS for either further upgrades to PowerChina’s contract or as these companies under the GCM umbrella are set up

• The overburden contract

• ⁠The mining Company

• ⁠The power company

• ⁠The Coal Transport Joint Venture (JV)

A JV or company created to fund and manage transport infrastructure

• The Industrial Mineral JV / Company

Or…. The Phulbari Green Light!!!

So much news to drop potentially in the next few weeks……

Maybe that’s why they needed the extra funds 😅

While researching this evening, I was thinking to myself, from everything we’ve read and heard, in the Bangla press and even from what Tarique Rahman has personally hinted at, why can’t he just come out and mention Phulbari, because it seems obvious with the BNP election win Phulbari is going to get the green light….. (imo)

Then it struck me 🙄 of course we are not going to hear anything yet, why the hell would we!!

Who in their right mind would announce a project green light, without first (If he has not already), sitting down with GCM and probably PowerChina to work out a proper detailed contract to work out the percentages of the project to make sure he gets the best possible deal he can for Bangladesh 🤷‍♂️

They wouldn’t!!!

I’m so so confident that Phulbari is going to get the green light, and although I don’t think it will be very long before we get some sort of proper update, or news, I do think it’s still going to require just a little bit more patience and time, before Phulbari OPM specifically is talked about openly from Tarique, the BNP, and the Bangla press, more than it already has ..

Just some thoughts 🤷‍♂️

Sounds like Tarique Rahman, is not going to be wasting any time with taking the country forward……

In response to another question, he noted that Chinese partners are involved in various development activities in the country and expressed hope that the two nations would work even more closely in the coming days.

https://www.bssnews.net/news-flash/361204

Https://news24online.com/world/bnp-makes-big-promises-to-china-and-pakistan-after-landslide-win-will-tarique-rahman-follow-yunus-path-xi-jinpings-dream-project-now/747355/amp

BNP makes BIG promises to China and Pakistan after landslide win; will Tarique Rahman follow Yunus’ path? Xi Jinping’s dream project now

What BNP promised China and Pakistan?

Responding to a congratulatory tweet by Chinese spokesperson, the BNP said it looks forward to "enhancing cooperation with China in trade, investment, infrastructure, and connectivity".

The BNP, which is set to form a majority government in Bangladesh, also said it would work with Beijing on major development projects, including Chinese President Xi Jinping's ambitious Belt and Road Initiative (BRI).

In a congratulatory message, China said that as a "neighbor and friend", it supports Bangladesh's domestic political strength.

In response, BNP said "Bangladesh welcomes cooperation (with China) that advances national interest, strengthens economic resilience and brings tangible benefits to both our peoples".

"We look forward to enhancing cooperation in trade, investment, infrastructure and connectivity, ensuring that ongoing and future initiatives, including the Belt and Road projects, are aligned with Bangladesh's development priorities and long-term economic sustainability," the BNP wrote.

The Tarique Rahman-led party also appreciated the recent "positive momentum" in Bangladesh-Pakistan relations, and said it would work to strengthen bilateral ties with Islamabad.

"Bangladesh acknowledges the recent positive momentum in our relations and stands ready to foster a forward-looking relationship with Pakistan based on mutual respect, sovereign equality, and constructive dialogue," the party said in reply to Pakistan Prime Minister Shehbaz Sharif's congratulatory message on X.

"We look forward to exploring avenues of practical cooperation that contribute to regional peace, stability, and shared progress in South Asia," it said.

How China is expanding its influence in Bangladesh?

Notably, China has rapidly expanded its footprint in Bangladesh after the fall of Sheikh Hasina, investing heavily in BRI projects in the South Asian country, including building the Padma Bridge, and Karnaphuli Tunnel, the country's first underwater tunnel.

Additionally, China has assisted in the construction of 27 power plants in Bangladesh, while around a dozen roads and 21 bridges have been built using Chinese loans and technology.

China is also investing heavily in Bangladesh's telecom network, to upgrade it from 2.5G to 4G/5G, and it data centers. Beijing issued loans worth $2.1 billion to Dhaka between March 2025 and January 2026, bringing its total investment in Bangladesh to over $42 billion.

Furthermore, China has also agreed to ease the terms of BRI loans, and extended tariff-free access for 99% of Bangladeshi products until 2028, which will boost Dhaka's exports, while the two countries have a

As a traditional friend and neighbor of Bangladesh, China supports Bangladesh in advancing its domestic political agenda, and stands ready to work with Bangladesh to carry forward the time-honored friendship, deepen high-quality Belt and Road cooperation and practical cooperation in various areas, and further strengthen the China-Bangladesh comprehensive strategic cooperative partnership, the spokesperson said.

https://en.people.cn/n3/2026/0214/c90000-20426426.html

MPs to take oath Monday morning, cabinet in afternoon

The schedule for the oath-taking of the newly elected members of parliament and the new cabinet following the 13th National Parliamentary Election has been fixed. The newly elected members will take oath at the parliament building on Monday morning, February 16. The Chief Election Commissioner will preside over the oath-taking ceremony.

The new cabinet's oath-taking ceremony will be held at Bangabhaban in the afternoon of the same day, with the President administering the oath.

Bangabhaban sources confirmed this information on Saturday, February 14.

https://viewsbangladesh.com/mps-to-take-oath-monday-morning-cabinet-in-afternoon/

Yep, totally get how you feel, I think we are all exhausted by the up and down emotions of GCM over the last few months, but hopefully with the massive BNP win yesterday, we really are getting somewhere now, and we really should start to get some exciting news and updates from the BNP, and company alike as we move forward. We know that the placing stock will be admitted to LSE on Monday, and that most of it obviously has been pre sold, so we just need to clear what ever is left and then we can be on our way again back up in to double figures …

With all the investment that China will be doing in Bangladesh in the future, its nice of them to highlight

"stood ready to advance high-quality Belt and Road cooperation"

which obviously the Phulbari project is part of ;)

Bangladesh Nationalist Party to form government by Sunday, implement July Charter 'gradually'

https://www.trtworld.com/article/7aa63aeedb04/amp

The Bangladesh Nationalist Party (BNP) has said it would form a new government by Sunday, after winning the first elections since the July 2024 popular uprising that ousted the government of Sheikh Hasina.

"It will be the BNP’s government. The government will be formed by February 15. The BNP will go to parliament with all parties," the party’s Secretary General Mirza Fakhrul Islam Alamgir told reporters on Friday while visiting his constituency in the north-western Thakurgaon district.

“The issues that BNP signed in the July Charter on reforms will be implemented step by step,” he added.

Bangladeshi voters also endorsed sweeping democratic reforms in a national referendum. The referendum took place alongside parliamentary elections on Thursday.

According to the commission, 60.2 percent of voters backed the reform package.

July Charter

The lengthy document, known as the "July Charter" after the month when the uprising that toppled Hasina began, proposes term limits for prime ministers, the creation of an upper house of parliament, stronger presidential powers and greater judicial independence.

It also includes increased representation of women in parliament and the election of the deputy speaker and parliamentary committee chairs from the opposition.

The referendum question noted that approval would make the charter "binding on the parties that win" the election, obliging them to endorse it.

Ali Riaz, vice-chairman of the Consensus Commission that led rounds of marathon talks with parties to agree on the charter, welcomed the result.

"Through their 'yes' votes, the people of Bangladesh have clearly expressed their desire for reforms," he told AFP.

"The responsibility now lies with the political parties to implement these reforms. We sincerely hope they will respect the people's mandate and uphold the charter."

YouKnowItsRight, (of course you do lol)

I like everyone else here am not particularly happy either about having the two more fundraisings at this time, but unlike you, who thinks that they have been done for no good reason and were totally unnecessary, (which imho is a stupid thing to say, because no one has a F/R if they are not necessary), I see it totally differently, as you would expect, and I do think that they have been done all for good reason. The project is potentially closer now than it has ever been, and with the BNP winning the election, that timescale has hopefully just moved a lot closer.

When it comes to GCM sitting down with the new government to discuss the project in the next few days or weeks, they are going to need funds at their disposal to do what ever final adjustments are necessary there and then, not be turning around and saying, oh, hang on can you give us a couple of weeks while we go and raise more money to fund this… How unprofessional would that be!

So as much as we may not like having the placing, going forward it does put GCM in a much stronger and professional position going forward …

Anyway, i'll leave you to your ramblings, as I am sure you’ll have soon bought back in your trading shares and will change your argument to being full on positive again, as is your normal practice …

GL either way 😉