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Just my opinion, but for what it’s worth, after looking at all the news that is coming out in the Bangla press and now social media, as well as knowing now that the Interim Government can give the go ahead if they wanted too, I honestly now don’t believe that we will have to wait for a new government before Phulbari is given the go ahead, and really do believe that Muhammad Yunus and Muhammad Fouzul Kabir Khan will be making the decision for Bangladesh, and I actually believe it will be sooner than we all think 🤔

Let’s see what the next few weeks brings in news articles!

Nice article Digit4lis

Each bit of news we now get helps hold the price up, and gradually we are I believe going to have a nice steady rise until real news and we have lift off 😅

Nice find Pappi....

Nice to see in writing again, and i think that they know it really, but like everything else that they are doing there is a format to making the decision...... One day soon hopefully we will just wake up and it will be headline news.....

"Whether a few like it or not, the interim government should make a firm decision on mining coal."

Just as well that Phulbari does not need to be funded by Bangladesh …….

Govt decides to axe megaprojects except foreign-funded schemes

The government has decided not to approve any new megaprojects, except those funded by foreign sources in light of the country’s prevailing situation.

The decision was taken during the meeting of the Executive Committee of the National Economic Council (Ecnec) held at the Chief Advisor’s office in Dhaka on Wednesday.

New megaprojects will be axed while the foreign-funded projects will get priority in case of approval, said a source of the meeting.

Only small and people-friendly projects will be undertaken for implementation, said the source.

Further details could be disclosed during a press conference following the meeting.

https://www.daily-sun.com/post/767594

Looks like Yunus and the Interim Government are able to give the green light to projects using their own energy resources then….

It will be interesting to see when they start talking about the coal plants, their need to be fed coal, and where it is going to come from in the future considering that they are very quickly waking up to the fact that they can no long afford to pay to continue to import it in the volume that they have been …..

https://www.tbsnews.net/bangladesh/ecnec-approves-4-projects-worth-tk1222-crore-944406?amp

Committee seeks data on power plants approved under quick energy supply act

https://thefinancialexpress.com.bd/trade/committee-seeks-data-on-power-plants-approved-under-quick-energy-supply-act

Good to see ......

Pappi, buying GCM is like a drug 😂😂😂😂

Doze, it would be nice to get an RNS, but as was said previously by the company when Hasina was in power, for many reasons, we will not get an RNS, to say that the presentation has been put forward to the government, and I personally don’t think that position would of changed when or if they have not already put it forward to the Interim Government….

I would be happy to be wrong though lol

Good to see that Yunus is on record stating publicly that he knows that the economy has been struggling due to fuel imports ………….

Bangladesh says World Bank pledges over $2 billion for reforms

“In a televised address last week, Yunus said the government was appealing for $5 billion in aid to help stabilise an economy that has been struggling since the Ukraine war sharply increased the cost of fuel and food imports.”

https://www.marketscreener.com/news/latest/Bangladesh-says-World-Bank-pledges-over-2-billion-for-reforms-47884659/

The Islamic Development Bank (IDB) has agreed to provide Bangladesh with $4-5 billion over the next three years for state reform efforts.

https://www.daily-sun.com/post/767417

Looks like the Interim Government are moving forward and accepting these loans over an extended period goes into making serious decisions territory imo

600k at 2.85 ... someone is confident... although there has obvioulsy been a seller as well lol

Digit4lis, yes the BNP do have a meeting / rally today

BNP leaders, activists gather at Nayapaltan ahead of rally

https://www.thedailystar.net/news/bangladesh/politics/news/bnp-leaders-activists-gather-nayapaltan-ahead-rally-3704886

Not expecting to see much news tonight due to the Eid e-Milad-un Nabi holiday ....

Good to see a nice steady rise today though, would be nice to hold on to this rise and finally see the start of the rise north into double figures again....

Nice to see China and Bangladesh working together….

New shipping route launched between Bangladesh, China

https://www.newagebd.net/post/trade-commerce/245430/new-shipping-route-launched-between-bangladesh-china

NewboF, I have done quite a lot of research into this, and to be honest, the position is not clear cut.

Typically, interim governments have limited powers and I am not sure what Bangladesh’s existing constitution says, but imo from my research, I do believe that due to the position that the country finds its self in, in that it is grinding to a halt, factories closing the people are suffering, etc etc due to lack of electricity, coal plants are running out of coal, and with the financial position of the country, they cannot continue or afford to import coal in the way that they have. They also know that in reality they don’t have the time and cannot afford to wait for another election to take place whenever that may be, so yes I believe Yunus if he wished could give approval for Phulbari, but it would not be just his decision, and he would not have sole authority to do so. He would have to have consultations with others to ensure that legal, environmental, and political rules etc were all met…

KC, it is a very strange one that’s for sure, because as we all know the volume was massive for months and that was unusual for GCM. I can’t answer your question tbh, but maybe there are some who have accumulated and are holding just below where they have to declare because they don’t want to be known, or maybe NewboF, was correct and there never was anyone accumulating in the first place… who know mate…

Thanks for sharing Iknownuffin... it is a good alround email and analysis of the situation at the moment, but I like this bit of the email.....

"however given it is now apparent as to why there has been such delays in regards to projects such as Phulbari, and others in country, the evolving landscape will now have to change quickly in order to for want of a better word "reset" the economy in country, with a focus on the Energy and Power sector key to the stabilising and development of the economy."

Afternoon KC, I hope that you are well mate..... Always knew that we would have a blue day today... we always do when ManuDave goes on holiday hahahaha

Looking like we may even break the 3p today with only one MM left to move on lol .... Hopefully the start of the journey into double figures again I'd like to think mate, esspecially if the news flow keeps on dripping out into the Bangla press in the way that it is ...

I am guessing with this steady stream of buying today and no selling in this price range, whoever it is that has put a buy order in for 500k at 2.70 will soon need to increase their buying price in order to get it filled :)