Member Info for Shouston

With respect you may be right. It is well known that a placing is needed. However sentiment here is rising on the understanding that the interim Gov is meeting with Chinese Gov culminating with a meeting with Xi himself. on Friday

Given the previous corrupt gov of Bangladesh stifled the home production of coal in favour of higher priced coal from India for many years. It would make sense for the new gov to change that policy.

Yes the interim gov has no mandate to sign deals, but is setting the pathway for the new government set to be voted in later this year. Both parties who stand a chance of winning the election are stating they are in favour of open pit mining, alongside green technology and nuclear energy. The country faces constant power outages and is not conducive to a stable economy.

China recognises this and appears to be ready to invest in bangladesh.

Who knows what will happen, but as you know sentiment is powerful on AIM. (Just look at PREM today).

Sentiment is driving this. It may all end in tears but we are all adults.

Please cease the constant negativity. Your point has been made!!!

Sharebel,

The text I used was taken from the link you posted....

https://www.dhakatribune.com/bangladesh/power-energy/376890/coal-mining-stifled-by-bureaucratic-red-tape

He said continuously importing coal instead of utilizing our own resources was unjustified, calling on the authorities to assess the progress of existing mines and move forward immediately.

The expert noted that Barapukuria had been producing coal for years, but not in sufficient quantities.

“The northern and southern parts of the mine could be opened for extraction, and feasibility studies on other mines should be reviewed to initiate further projects.”

He said amid its energy crisis, Bangladesh should prioritize domestic gas and coal extraction over LNG and coal imports.

BUYS???

08:50:00 4.6488 100,000 4,649 O

08:50:00 4.6488 100,000 4,649 O

08:50:00 4.6488 20,000 929.76 O

08:50:00 4.6488 100,000 4,649 O

08:50:00 4.6488 100,000 4,649 O

08:50:00 4.6488 100,000 4,649 O

08:50:00 4.6488 100,000 4,649 O

08:50:00 4.6488 20,000 929.76 O

08:50:00 4.6488 20,000 929.76 O

Quite a few sells yet the price ekes up...

Seems to move on very low trading volumes.

5MM moved up in the last few mins

Here at last....

"The team expressed their keen interest to invest in small-scale solar plants and carbon markets"

SMALL SCALE solar plants are not going to cut it for the ambitions of kick starting the economy, and having continuous power supply.

it is clear to all political parties that home grown coal is probably the best way forward, and with Chinese investment it could happen quickly.

Soon.

Let's wait for the direction of travel coming out of the meetings with Chinese leadership later this week.

It is expected that MOUs will be signed during this visit.

For Bangladesh to kick start its economy it needs a secure energy supply. Yes some will come from Green technology, but lets face it, they are sitting on huge amounts of coal that could provide them security for 30+ years.

GLA.

Can sell easily. Maybe get a better trading platform?

Interestingly my buy has not yet shown up, both the bid and ask slightly improving over the last hour...

There is a TG open currently but not much recent activity..

No you ate talking pure guff

Sold may buy back mid week

What's up...

Dig baby, dig!

It is very commendable to consider the plight of those who would be directly affected by a massive development such as this.

The article mentions, some 220 thousand people could be directly affected.... But for perspective, the population of Bangladesh is some 170 million!!! How many more could widely benefit from a more vigorous economy, buoyed up by lower energy costs. Gradually moving away from the subsistence living to a more stable industrial life?

Yes, there were some violent protests, and unfortunately a handful (3) got killed in 2006. Who fuelled those protests are up for speculation! But considering the last gov, (Leader now in exile in India), were "on the take" big time for many many years, favouring expensive Indian imports over local coal production we could take a wild guess. (Hence little appetite - until now - to develop home grown energy.)

Lets not beat around the bush! Not many here invested for social security/development reasons for Bangladesh peeps. I also doubt there are many, swampy tree huggers, that would consider this an ethical investment...no we are here to try and make OUR money grow.

NCT, how different is this, to that of our common investment in SNDA? Where a portion of Timor Leste will make way for a massive petrochemical processing plant. You do not mention the plight of those locals who would be displaced to make way for that development yet you cheerlead that investment.

Please try to cease to post up historical negativity towards open cast mining. The new interim gov is making all the right noises, setting the pathway for the future elected government later this year. Similarly to Timor Leste, the Chinese are waiting to invest.

GLA

I presume that licences are granted at government level.

The previous gov were being bribed to take foreign coal at a high price.

Now that gov is in exile, the new temp gov see sense in producing their own coal to feed their future power needs.

So if the interim gov is supporting local production then one would assume they and new permanent gov would provide the licences to do so.

Seems China wishes to support this quest, and the visit to China next week will be valuable.

Lets see what happens, the history is well know, the future has yet to be formed...

Again thanks for posting that Link NCTrade.... it goes on to mention.

"According to the GCM press release issued on March 11, the company has received Expressions of Interest (EOI) to purchase Phulbari's coal from two of Bangladesh's current independent power producers. One is SS Power Limited which operates the 1,320MW Banshkhali coal power plant and the other is Barisal Electric Power Company which operates a 350MW unit at Barisal. It is noteworthy that a Chinese state owned company named Power Construction Corporation of China, Ltd. ("PowerChina") has a stake in both of the two power plants and GCM has signed a contract with PowerChina covering mine development works of approximately $1 billion necessary to "facilitate coal extraction" at Phulbari."

Cool. Thanks for posting NCTrade....

"A plan to extract coal through open-pit mining in Phulbari and the northern part of Barapukuria coal mine area is being revived by the government,"

This IS what investors here want to hear....