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New coal power station signed for. No excuse now not to approve Phulbari mine.

'The Matarbari Ultra Super Critical Coal-Fired Power Project (VIII) aims to strengthen Bangladesh's energy security through a 1,200MW ultra-supercritical coal-fired plant, transmission lines, roads, and a deep-seaport with an 18.5-metre draft. '

More coal needed!

The Matarbari Ultra Super Critical Coal-Fired Power Project (VIII) aims to strengthen Bangladesh's energy security through a 1,200MW ultra-supercritical coal-fired plant, transmission lines, roads, and a deep-seaport with an 18.5-metre draft.

https://www.thedailystar.net/business/news/bangladesh-jica-ink-tk-6700cr-loan-deal-food-safety-matarbari-power-project-3857211

Sharebel's shorts must be brown by now! Lol

The project was recommended for approval by Hasina's energy minister Nasrul Hamid last March24. Who knows if it would have been approved by Hasina if she hadn't had been ousted, but the buying then suggested it was most likely. Hamid wouldn't put it up for approval if he didn't think it was likely.

The import and forex problems are even worse now and open pit mining Phulbari is still the only solution. Whether it's Yunus or the BNP the market knows 1 of them will approve the mine. My guess is that Yunus will start the road map to approval and leave it to the BNP to rubber stamp.

Poor Sharebel's short is getting wilder by the minute! Lol

The GCM train is rolling!

Big orders being filled.

Already moved up on the opening :)

Dax and what if a road map to mine approval is announced in China and is part of all the deals and investments to be announced as part.of Yunus red carpet trip?

Bid raised on very few buys.

Mms desperate for shares.

Bangladesh can't be a manufacturing hub with expensive unreliable energy and power outages everyday. The only way to solve their energy problems is to dig baby dig. And China will be doing the digging! :)

Alam said a big focus will be given on relocation of Chinese factories to Bangladesh to make the country a manufacturing hub

"We want to create a revolution in the manufacturing sector," said the press secretary, adding that it helps create more jobs and boost exports from Bangladesh to the global market.

https://www.justnewsbd.com/en/bangladesh/news/24597

We need more gas

We need more solar

No you need more coal, especially when all the manufacturing hubs come.

'He added that sufficient power generation was also ensured from coal-fired and furnace oil-based power plants.

“However, during peak summer, when the demand increases, it will be challenging to manage the situation unless gas supply is increased to 1,200 MMCFD,” he said.'

https://www.unb.com.bd/category/Special/power-supply-in-bangladesh-faces-summer-strain-despite-smooth-ramadan/156288

NCT go back another and you'll see i said sell at 4.1p!

Bid just jumped from 3.3 to 3.7p - mms know more than us - either working on a big buy or expecting an afternoon rush :)

Afternoon bounce coming! Buyers about to pile in again. :)

Https://ep-bd.com/view/details/article/MTEzNDQ%3D/title?q=coal+mining+option+regaining+ground

The interim govt led a conference on mining own coal - all experts at the event were in agreement that coal simply HAS to be dug to save the country. And Phulbari was mentioned the most and in great detail. Obviously our Chinese partners also carry great weight.

'Mining domestic coal resources has again become a topic of discussion following a seminar held at the Energy & Mineral Resources Division (EMRD). Energy Experts and civil society representatives put forward their opinions and observations, saying that the country has hardly any option but to mine local coal and use it for power generation to reduce the dependence on imported coal............

Conclusion

The keynote presenter and all other discussants were unanimous in one point that the domestic coal resources must be harnessed and exploited. At the same time, considering the global perspective, associated risks and challenges were also pointed out. It became apparent that the government was not going to decide on mining and utilization of local coal though they organized the seminar for an informed decision. But the reality is that the cost of mining is increasing at geometrical progression as time moves on. Getting investment for coal mining is a huge challenge now. Some Chinese companies are still showing interest in mining coal and setting up coal-based power plants. Global energy transition and global resistance against coal use are intensifying challenges for the utilization of our coal resources. But the critical question is, do we have any other feasible alternative to mining coal as we are experiencing huge pains for relying on 55% imported primary fuel. The interim government is taking many difficult challenges of reforms. It should not be a strong challenge for the government to check and audit the SOD of AEC for the Phulbari mine by a world-reputed mining consultant. If that is done, it will be easier for the next elected government to make an appropriate decision on mining domestic coal resources.'

Looks like things about to get exciting again! Lol

On target for 3p close.

There'll be a few burnt fingers from Friday's 4.48p

GCM runs out of cash July25. Massive fundraise and dilution to come.

And still no RNS from GCM about the price rise.

Pump over - this will crash down once below 3.5p.

Company still runs out of cash July25. I hope they have done the fundraise at this higher sp and that was what the Friday pump was for.

2 years to get the coal.

Already under discussion. The BNP previously approved the mine.

China is giving Yunus the red carpet treatment.

Many sweeteners will be offered to Yunus - loans, manufacturing, military aid. He will get his glory. Solar deals will also be done. On the understanding Powerchina are to develop the mine and the coal wlll allow the new govt the ability to run the existing Chinese coal power stations and also pay back its debts to China. Win win win for all parties.

Shamsul Alam attended the government discussion also so what he is saying is actual fact.

‘The government is favouring open-pit coal mining, saying that it intends to start the discussion, making things easier for the next government,’ said Shamsul Alam, who also attended the government discussion.

Just as summer heatwaves start arriving.....

'Bangladesh's dependency on import of Liquefied Natural Gas (LNG) is facing a major disruption due to a liquidity crunch forcing the interim government led by Muhammad Yunus to seek a US$ 350 million loan - equivalent to 42.70 billion Bangladeshi taka - for LNG purchases in the next fiscal due to persistent dollar shortages, local media reported on Thursday.'

https://www.google.com/amp/s/energy.economictimes.indiatimes.com/amp/news/oil-and-gas/bangladesh-foreign-suppliers-reluctant-to-deliver-lng-shipments-as-arrears-mount/119256181