Member Info for YouKnowItsRight

Excellent find Pappi.

Fantastic to see that even the Marxist trouble maker Anu Muhammad accepts the inevitable - 'Coal-based mega projects have been done. Now there is a crisis of imports, it is going to take another disastrous decision to solve it.'

The image of a man in a mankini and a hard hat just ruined my weekend!

I wouldn't be too worried about the sp - 1. Only tiny peanut trades, and 2 it appears more were bought than sold anyway.

Nothing has changed has it. The $500k buyer still appeared when we needed it. GCM still has enough funds until May. The $1billion dollar agreement to build the mine with Powerchina is still there. Powerchina are still on board to do the mining. The energy minister still said importing coal is stupid and financially unviable and they need to dig their own coal, the landowners will be compensated. The lobbyists DG dealing direct with the government are still holding onto all their share payments. The project submittal is still imminent.

Remember we was at 1p and the share suspended just weeks ago. All in all its been a great few weeks and plenty more to come I suspect. 6p or 12p is nothing compared to the end game.

Keep the faith and all have a good weekend.

We know a mine starting in 8 years producing 1/10th of Bangladesh's coal requirements at a staggering $160 per tonne is the usual nonsensical approach from Bangladesh in all matters of energy production. Its why they are in the mess they are.

Maybe the mine is just a stalking horse, being used in negotiations with GCM and Powerchina as 'we've always got other options' during the negotiations. GCM/Powerchina can get at the first coal in 2 years. They can supply enough annually to meet ALL Bangladesh coal requirements. And due to the cost effectiveness of open pit mining the coal will be supplied at a lot less then $160 per tonne, and a lot less than current import costs + associated costs like shipping.

Imagine being spooked by a coalmine opening in 8 years at $160 per tonne of coal! Lol

Let's get these neds confirmed and get the submittal done. 20-30p at least. Who knows what they'll be worth on approval.

33.6 million tonnes of coal is required every year in the country’s power plants

8 years wait for 3 million tonnes per year at this mine ! Lol

The problem with underground mining is its just too expensive, as demonstrated at Barapukuria mine, hence why they turned to import in the first place.

They can no longer afford to import that coal. Only open pit mining at Philbari can truly meet the coal needs of the country, and stop the haemorrhage of US dollars.

GCM clearly states it can get at the coal in 2 years in its agreement with Powerchina.

It's good that they are finally talking about coal. Gently gently. Offer up a few unfeasible alternatives, set the mind set for coal, and then take the only option that is feasible and will offer immediate solutions to their big problems.

'Individual statements?'

I've given you an individual statement. It couldn't be more clear. Nasrul Hamid is the energy chief and answers only to Hasina.

-The government is reviving plans to extract coal through open-pit mining

-Fulbari and Barapukuria in Dinajpur are once again on the table for open-pit coal mining.

-Energy and Mineral Resources Division states that there is a need for 33.6 million tonnes of coal annually, costing $6 billion.

-State Minister for Power, Energy & Mineral Resources Nasrul Hamid has recently said that it is not possible to leave so much coal underground and import it. “Sooner or later, we will have to extract coal locally. For this, local people will be paid adequate compensation.”

https://businesspostbd.com/power-energy/govt-reviving-plans-despite-strong-opposition

Once again you show you have no idea what you are writing about. Can you not read or do you not understand this? Show me where and when you have ever read this before - (you haven't because it's a new development in govt thinking )

'State Minister for Power, Energy & Mineral Resources Nasrul Hamid has recently said that it is not possible to leave so much coal underground and import it. “Sooner or later, we will have to extract coal locally. For this, local people will be paid adequate compensation.”

'Earlier honorable Speaker Shirin Sharmin Chaudhury asked Mr. Sibli Sadiq for raising his supplementary question in question-and-answer session in the National Parliament.

Raising the question Mr. Sibli Sadiq MP said, While we are struggling to run many of our power plants due to fuel crisis, the Dighipara coal field that has been discovered in my constituency could have been a blessing for the country. I do not know, why there is no progress in developing this coal field despite having completion of feasibility study. We have seen comments from many countries on climate change issue and proposing ban on burning fossil fuel, but they have been burning coal for long, way back 200 years, and enjoying a higher living standard. But why we are unable to utilize this resource? My submission to honorable minister, please let us know why the development activities of this mine is not started?'

https://www.google.com/amp/s/barta24.com/amp/details/national-en/169626/open-pit-coal-mining-possible-at-phulbari

The lobbyists DG Infratech Pte LTD have held onto all of their share payments. Now own 4.2% of the company. A bona fide company with highly influential energy experts on board. Why are they taking share payments to the tune of £15000 per month and not selling? Money talks and there is only 1 reason they are holding - they are dealing direct with the government and must believe the green light is coming and those shares will be gold. They will already know what is now being openly reported by Bangladesh news outlets -

State Minister for Power, Energy & Mineral Resources Nasrul Hamid has recently said that it is not possible to leave so much coal underground and import it. “Sooner or later, we will have to extract coal locally. For this, local people will be paid adequate compensation.”

Redeyemines - Do you recognise the name? Dyani and Polo are not there so not sure how accurate Marketscreener are. But on the list IG HL and Cantor Fitzgerald are huge and look at the size of their holdings %. Im thinking for an independent like James Brearley to have 8% could be significant. Do brokers not have to do TR1s? Would they have to if it was 1 client?

Try this Searcher - all the other names are very familiar. James Brearley are based in Blackpool.

https://uk.marketscreener.com/quote/stock/GCM-RESOURCES-PLC-4004649/company/

On the subject of significant shareholders, although not listed on GCM website, Marketscreener have a broker called James Brearley & Son as holding 19m shares for 8%. I can't recall the name before does anybody know if this is a recent addition?

Correct Jolly, DG received further share payments.

DG are very influential energy experts employed by GCM to lobby the Bangla govt on behalf of GCM. As they are at the forefront dealing with the Bangla govt it is very significant that they are retaining all their share payments. What do they know then? :)

Lol I know Adam, we should all feel sorry for him, not humiliate him!

Reading this must make him really butt them walls -

State Minister for Power, Energy & Mineral Resources Nasrul Hamid has recently said that it is not possible to leave so much coal underground and import it. “Sooner or later, we will have to extract coal locally. For this, local people will be paid adequate compensation.”

What more needs to be said?

Experts warn the import-dependent energy sector, straining the economy and leading to a USD (Foreign Exchange) crisis. Consequently, the government prioritises domestic energy production. Plans include reconsidering domestic coal mines and exploring extraction methods such as open-pit mining in Barapukuria’s northern part and Fulbari, underground mining in Rangpur’s Khalaspir and Dinajpur’s Dighipara, and coal gasification in Joypurhat’s Jamalganj.

State Minister for Power, Energy & Mineral Resources Nasrul Hamid has recently said that it is not possible to leave so much coal underground and import it. “Sooner or later, we will have to extract coal locally. For this, local people will be paid adequate compensation.”

Apologies, had to post this -

'EarlofAim

Posted in: CMRS

Posts: 12,084

Price: 1.70

No Opinion

RE: Oversold Rsi at 8 (Chartist will know what it means)8 Mar 2024 15:17

Seller Crashed sp, now He's out..... Get ready for the bounce'

Bounce? Current sp 1.51

Some bounce you predicted there EarlOfShame!

:)))))))))

Nomad carrying out due dilligence on 2 x Neds/Chairman

$1billion agreement with Powerchina to build the mine

Chinese state owned Powerchina have stuck by GCM throughout the last 5 years knowing that at some point the Bangla energy policy would implode and they would have to dig the coal

And now the Minister of State for Power, Energy and Mineral Resources of Bangladesh Nasrul Hamid, Hasina's right hand man, is admitting that facing $6billion import costs they have to dig their own coal.

Philbari has 570millionntonnes of coal, 30 years supply for Banglas already committed and built coal power stations

GCM have stated the project proposal will be submitted in quarter 1 2024. That is within the next 2.5 weeks.

Ignore the clowns and their lies and ill informed misinformation. Do your own research and place your bets accordingly! Good luck all

Correct Hepran

If everybody reports him for lies he will be held accountable.

'You are either being paid very well or are desperate to get the price lower ...'

I doubt it, a monkey could do what he's doing. Is he paid or does he simply do it for kicks? I'd say the latter as his arguments are pathetic and blatant lies and nobody would pay for that as its ineffective.

Stop posting lies Earl of Shame.

Needs 2 X new Non Executive - 2 selected and Nomads carrying out due dilligence

Needs approval from Bangladesh Government - Nasrul Hamid 'Sooner or later, we will have to extract coal locally.'

Needs License from Local government - Local MP 'why haven't we been given mine approval, we are desperate for investment and jobs'

Needs Land purchase from Local People - NasrulbHamid 'The people will be adequately compensated'

needs Funding - can't you read? $1billion agreed with Powerchina