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it is misleading to compare ****stan coal dynamics with bangladesh. ****stan has its own share of problems. it is extremely unlikely that new large-scale coal mines are to be financed and developed in ****stan. the existing open-pit coal mines are sufficient to meet demand and can increase production if need be. but no new greenfield financing and development. the chinese (powerchina is misleading) do not have the financial appetite to take on new greenfield coal projects in ****stan. it is nonsensical for anyone to think otherwise. i appreciate there are plenty of people here in these posts that that are rampers but it is most laughable how these people misguide the others. anyway your money, your loss.
Isn't this a dead spiral for AIM companies? So I have been told.
i have been told that a staggering amount of us$1.8 billion (loan repayments and repatriation) of outstanding dues is owed to chinese energy projects in ****stan. any new chinese funding is linked to first settlement of outstanding dues. with imf loan hanging (more loans demanded) and depleted treasury, it is nothing more than delusion to think that multi-million (or billion) dollars projects will be funded by the chinese. plenty of chinese resentment in ****stan. any non-chinese multi-million (or billion) dollars projects funding in the private sector is out of the question as the debt owed to the chinese is the benchmark. pretty bad state of affairs.
I have been told that to say that undertaking the ESIA is "...a major milestone" is BS. This is a basic requirement of any project funding. An internationally accepted bankable ESIA would take at least 12 months (minimum) to complete. So no timeline advised which would spook the market.
Indeed it is Comedy gold. Even "project developers" need to have a foresight about strategic investors to take the project to operation. Foreign ( and possibly local), including the Chinese, do not have the investment appetite to do multi-million (and billion) dollar deals in that country. These complex projects require strategic partners from the outset who invest ( no MOUs). Hiring consultants are being paid to please but doesn't mean the project(s) are bankable. Comedy gold indeed.
So what about a feasibility study? what are the costs, timelines, bankability.... All these are important regarding funding. Still many years in to the future -
I have just been told my one who heard the interview and concluded that she is a pathological liar, a master of BS and MOUs. Very harsh but that is her track record. Seems like she is a politician garnering votes for the upcoming elections in that country!
It may be guys from the local Chinese takeaway dressed up as executives to window dress the next fund raise...
Seems like window-dressing for a fund raise to keep up the lifestyle. My City contacts tell me that this company is shambolic and laughing stock. A typical bucket shop.
The focus is on coal mine and not power plants in Bangladesh. The Chinese are not funding overseas coal mines in Bangladesh. This was the Chinese Embassy statement in Bangladesh. There is much more that you DON'T KNOW ABOUT BANGLADESH. !!!!
There you are. What a joke! Just to remind you:
1. It is all pre-election hysteria
2. Why suspend the shares? The incompetent GCM Board could have find various way to keep the funding going. This is a reputational issue for GCM in Bangladesh.
3. No Chinese funding in coal mines particularly in Bangladesh- please read FT article March 2021
4. Bangladesh will continue to import coal no matter what the election outcome as the capital layout for this coal mine is just too much for financiers, if any, to take risk. If Bangladesh cannot pay for imports (4 months), where would they find the money for the coal mine (and power plant)?
5. Surely the Nomad would have raised the question to GCM Board for the unusual movement in share price?
6. And much more...
The discussion is referred to coal mines and not power plant. That said, you can read FT article March 2021 in which China made clear that "China has told Bangladesh it will not fund coal mines and polluting power plants, as Beijing took the first tentative steps towards fulfilling its promises of sustainable Belt and Road investment. In a letter seen by the Financial Times, China’s embassy to Bangladesh informed the local Ministry of Finance that “the Chinese side shall no longer consider projects with high pollution and high energy consumption, such as coal mining [and] coal-fired power stations”. Arguably, China does send out mixed signals but it is clear that coal mine financing will be very difficult.
These are mainly mainland China focused operating assets. However, no major greenfield overseas coal investments. The Chinese-state sponsored AIIB bank is not financing overseas coal projects which is a key barometer of Chinese financing. The Chinese development banks are also reversing their further support for coal projects. Emphasis is on renewables. That said, the very bankability of Bangladesh to service the debt is questionable. This is a huge investment outlay that will struggle bank financing.
Most assuming and funny is that you think a Chinese MOU has merit. The Chinese state companies enter MOUs as national past time. They would have financed the project long time ago under the BRI remit. However, the BRI is no longer as appealing as it was in the past and the Chinese government is supporting any overseas coal-related projects. Emphasis is on mainly renewables. Also the Chinese state sponsored international bank, AIIB, will NOT FINANCE COAL PROJECTS.
YOU DON'T KNOW ANYHTING ABOUT BANGLADESH AND ITS PEOPLE. PERIOD.
This is nothing more than pre-election hysteria to garner support. IN SHORT. THERE IS NO CHINESE FUNDING AND THERE IS NO INTERNATIONA FINANCE FOR COAL PROJECTS. THAT SAID, DEBT SERVICING FOR THESE TYPE OF PROJECTS ARE NOT BANKABLE IN BANGLADESH.
I hope the message is loud and clear!
My city chums describe her as Liz Truss competence, Suella Braverman treachery and lies, and Benazir Bhutto deluded and self-destructive ambitions.
Some City insiders have argued that AIM is becoming a platform for money laundering...
indeed, people here have short memories. add to this is that it is extremely unlikely there will be so-called chinese investors (or non-chinese) wanting to invest in greenfield projects in ****stan. they have been badly burnt and are owed us$ billions. these are facts that can easily be researched and googled. that is what my city insiders are telling me this morning.
COMPLETE DISASTER!
ABSOULTE DISASTER!