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Lol what is Tang up to now?

At what point do the Bunglas realise the mess they are in and that only digging their own coal will save them? When the entire economy and energy system collapses and the lights go out permanently, will they then say what about our own coal?

https://www.google.com/amp/s/en.prothomalo.com/amp/story/bangladesh/00fsa9wn5e

Increasing underground mining at Barapukuria is just not feasible. Digging the coal costs more per tonne than importing it. Only an open pit mine will give them high volume high quality coal at a low cost. It's generally accepted only Phulbari can be open pit mined. And only Phulbari has a confirmed plan in place that can get to the coal within 2 years. Even the previous govt's mooted Dighipara coalmine will take 8 years to get at the coal. Phulbari is the only option to save their economy.

https://www.google.com/amp/s/www.tbsnews.net/bangladesh/energy/pdbs-losses-mount-state-coal-suppliers-inflated-price-continues-defying-global%3famp

https://www.google.com/amp/s/www.tbsnews.net/bangladesh/energy/govt-plans-mine-90m-tonnes-coal-dighipara-808726%3famp

'the only outstanding risk here is the BNP not being successful on the votes'

Lol have you not been paying attention? We know own coal is highly likely to be dug so why would the gcm sp be being manipulated to stay in the 6 to 7p range? The sp can double in a day with a few decent buys with no news, with recent newsflows we should easily be around 20-30p. Everygood news story momentum is killed with a sell off. Why would anybody be doing that, essentially losing money? Any connection with Gary Lye and Taylor-Wilkinson being removed from the board last year and replaced with Tang's own selections, giving him control as he had at Polo Resources plc.

Did any Polo Resources plc shareholders see any of their money or share of assets? Or even any communication assuring them their money was safe?

There's lots of risk here. High stakes poker being played and Tang has most of the Aces.

I'll be happier once this hits 10p by lunchtime tomorrow with all this weekend's news flows! Lol

Most likely they are using Dighipara and Barapukuria coalmines as a stalking horse, get the public onside with digging own coal and then switch to Phulbari. Coal from Dighipara and Barapukuria costs more to dig per tonne than importing it. Only open pit mining Phulbari gives them the massive economies of scale that will reduce the cost of the coal and save them $billions. Mining Phulbari has to be a certainty.

Are going to be used to keep the sp down? Tang has every angle covered. Low ball buyout coming.

Nice work for somebody. 16m shares around 6p in 1 week. Somebody is confident. Looks like that was why the sp was held down and this looks ready to rise rapidly now. Just need the BNP to confirm that all their plans about jobs, cheap energy and infrastructure investment is all based on the money saved, and earned, by digging the black gold up.

The 'insider' still buying big volume without alerting the market.

I wonder if the plan is to clear most, if not all, the 16m shares issued before the manifesto is announced?

Point 7 of the BNP 19 point plan - 'Development of mega projects will continue. However, these projects will be thoroughly scrutinized to check corruption'

Mega projects. Plural. Teesta is 1. But there are others......

https://e.infogram.com/d007c5bf-1a33-4598-a413-a3a64832aa46?src=embed

Unlikely there will be time to be patient - approx 4m bought Friday, already 2.5m today. Before the fundraise the sp would already be over 10p with that sort of volume.

So the fundraise was done despite the accounts saying the company had cash to see it through the next few months, certainly until after the election. And this buyer (or buyers) suddenly appears. Looks to me like the fundraise was just an opportunity for somebody to buy 16m shares at around 6p without upping the sp.

Its all looking good - just 3 weeks to elections and the new Energy 'domestic coal' Masterplan has certainly ruffled a few feathers!

'He said the draft master plan is creating a framework to legitimise future power projects that would largely depend on fossil fuels.'

https://www.thedailystar.net/news/scrap-draft-energy-master-plan-4084341

So who is buying? Doubtful that buyers for 5m shares just appeared after a discounted fundraise RNS! Lol

No, this is all connected and acting with a nod and a wink whilst trying to appear as not, just speculative buying on the open market! The buyer 'feels' GCM has big news coming :)

Bid 6.25p now! Lol

Crazy morning - 4m bought and sp drops - only GCM can do this!

Bid back up to 7p. Buying volume has been incredible this morning - hard to believe the ask hasn't moved up. Certainly the fundraise hasn't stopped the buying momentum. Onwards and upwards.

How is the ask staying at 7p? Lol some hefty trades as well 3 x 250k. Market still positive. Has to start moving up again soon.

Was this why the price was held down? The company said it had funds. So somebody has just bought themselves 16m shares at 6p. To buy 16m on the market at 6p would be impossible . Don't think 6m has even been bought throughout January so definitely not forward sold. Also have Clear Capital got themselves a bit of action with 1m on warrants available at 6p for 3 years. 16m shares is nothing. Nothing has changed just more pigs positioning at the trough. Looks even more certain that something big is coming down the line.

Barapukuria mine is finished. Too expensive and only 1 or 2 years of mineable coal left. Only Phulbari can be open pit mined, giving the lowest cost to mine the coal.

'According to his presentation, the Barapukuria mine has already produced 14.94 million tonnes of coal, with an additional 4 million tonnes expected by 2029 through underground mining. After that, open-pit mining will be necessary in the mine's southern and northern parts.

The Phulbari coalfield, where all environmental and social impact studies have already been conducted, would be the easiest to mine. Production could begin within 2-3 years, while other fields would require 8-10 years following government approval.

Prof Shamsul also condemned the high cost of locally mined coal, pointing out that coal from Barapukuria costs $176 per tonne, while imported coal is available at $100 per tonne. "This is due to corruption. A Chinese firm was awarded the mining contract without a competitive bidding process," he alleged. '

https://www.thedailystar.net/news/bangladesh/news/urgent-decision-needed-utilising-coal-reserves-3835811

Looks like the new Energy Master Plan is actually real and does massively involve domestic coal. Graet news. The likes of the CPD have their own agenda and have held back Bangladesh for years with their renewable energy bs so its good to see them crying. To become data centre and manufacturing hub Bangladesh will need every watt off that extra power.

'He said the draft is fundamentally flawed and non-participatory, with renewable energy failing to emerge as a core priority. Instead, domestic coal is being promoted under the guise of “resource optimisation,” raising concerns about future carbon lock-in.

Moazzem also questioned the rationale behind planning for nearly 60,000 megawatts (MW) of electricity capacity, asking who would ultimately consume such a volume of power.'

https://www.daily-sun.com/bangladesh/851883/cpd-urges-halt-to-draft-energy-master-plan-over-fossil-fuel-risks

Mms backing off a 317k trade from 2 days ago at 7.5p and then adding it back on - and dropped the bid from 8.10p to 7.7p! Lol MMS trying to cause panic so they can load up for the next push upwat

Looks primed for a push towards 10p - will it be this afternoon? :)

Mms dropped the bid to 7.1p! Lol

Syraight back to 7.7p looking like a big close today