Member Info for YouKnowItsRight

You need to stop talking about 'in the know' as you look very foolish. W2NCY supplied CTW's contact number to the board so any wise owl would have joined the dots and deduced that this was his source. But not you.

Too twit too woo!

Its nothing personal Wise Owl. Most of us have been here a while and see the latest Bangladesh/coal expert like 'Wise Owl' pop up on the board after every rise, stuck on the spike and desperately ramping before they sell up at a loss and move on to the next big thing, never to be heard from again!

Looks like wise owl has given up trying to drop the price with his negativity, must have bought at the current so and is now back ramping it up again! Given his big holding at MATD is dropping like a stone his desperation is clear to see.

A wise old owl lived in an oak,

The more he saw the less he spoke,

The less he spoke, the more he heard,

Why aren't we all like that wise old bird?

'The master plan also includes coal exploration, going against the government’s earlier decision of moving away from coal power'

Is this a new development? This must be highly significant for GCM.

'The master plan also includes coal exploration, going against the government’s earlier decision of moving away from coal power, the keynote paper said..........

Energy expert M Tamim said that Bangladesh has no escape from the burden of fossil fuel anytime soon since about 10,000MW of newly-built coal and 8000MW of gas capacity are already in the system for the next 20 to 25 years.

He pointed out that keeping this newly-built power generation capacity idle meant paying huge capacity charge, which Bangladesh cannot afford.'

https://www.newagebd.net/article/225492/country-face-even-greater-uncertainty-says-cpd

Severe power shortages already.

https://www.google.com/amp/s/www.tbsnews.net/bangladesh/energy/will-load-shedding-be-severe-summer-too-792566%3famp

Bangladesh stands at the precipice of economic development or disaster. The policies undertaken in the current tenure of government will largely decide which way the nation will be heading. There is little room to maneuver and the road ahead is fraught with pitfalls. A precious decade has been completely wasted on adopting legislation that has crippled the nation's capacity to be self-reliant in energy. A flawed decision to move away from using its coal base, at a time when the two economic power houses in Asia, viz. China and India have gone for developing their own coal reserves and scour the planet in a race to secure future supplies of the fuel. Faulty it was because while these two major economies moved ahead in leaps and bounds in terms of economic prowess, Bangladesh is now in a fix.

The country has missed the "coal train".

https://thefinancialexpress.com.bd/views/opinions/streamlining-energy-policy

One of the best articles written exposing the corruption and sheer lunacy of Hasina's energy strategy. Little wonder GCM was forced to sit and wait so many years. But surely now with no ForeEx dollars left to buy coal Hasina simply has to dig the Phulbari coal.

https://www.eurasiareview.com/12022024-bangladeshs-serious-foreign-exchange-crisis-gets-worse-oped/

The Company promised funding and completed accounts before the end of January. Which they did. They company promised neds/chairman before Taylor-Wilkinson leaves 28Feb so let's see what happens. Nothing else we can do. Sell if you don't like the situation.

Sometimes on AIM plans do come to fruition. Take a look at HE1. It's followed GCM's path to doom but now looks like it's finally about to take off. GCM will be next.

Bangladesh foreign reserves have fallen again. Barely 4 months worth left. Again the $2billion dollar loan is only a couple of months supply. They havent even spoken about coal supply. There's only 1 way for them to achieve longterm energy security and that's to dig their own coal.

https://www.google.com/amp/s/www.dhakatribune.com/amp/business/338784/forex-reserves-fall-below-20bn

Whilst Tang has deliberately created an environment of uncertainty that stopped the rise before Xmas the facts are that somebody stumped up £500k at 1.6p and that all the sells were being bought on Friday. Lots of buying would not indicate a company about to be stolen. It would be the opposite as those close to Tang would be looking to get whatever they could. Certainly not putting more money in.

GCM need neds and a Chairman appointing. The company assured the funding would be in place and the accounts would be completed. And it was. They have assured they are seeking to recruit 2 new neds/chairman.

GCM own the licence. GCM have pushed the project. Gary Lye is the boots on the ground building up the contacts and pushing the project. GCM have comprehensive agreements with Powerchina. GCM have the agreements with the Bangladeshi lobbyists DGi, who are being paid in GCM shares. The proposal, discussed in two way conversations with government officials will be submitted by GCM in the first quarter. Could be any time now. GCM is a UK plc, Bangladesh is forced to honour the licence because of that. Tang could be taking a big chance stealing it as why would Bangladesh honour him if he's not honouring GCM. They could easily nullify the licence if he stole it.

All in all, there's lots to play for, and like any good script there'll be lots of twists and turns, and sub-plots, over the next few weeks.

'Our Dhaka team maintains contact with government agencies and has seen evidence that the forementioned momentum towards developing the country's known domestic coal resources and increasing exploration to identify new gas fields is waxing. The downturn in key economic indicators has seemingly been an awakening and it is most fortunate that the country has such a world class energy resource as the Phulbari coal deposit that can easily be developed and help insulate against the vagaries of the world energy market.'

The Board Recommendation was for him to be removed. So he's resigned.

Will the Nomad also resign? Or will they await the conclusion of the 'process'?

'The Company is currently in the process of seeking to recruit two new Independent Non-Executive Directors ("NEDs"), including a Non-Executive Chairman.'

Have you got a number for him?

Interesting on the voting form the Board Recommends voting 'FOR' the removal of CTW. What is going on there?

This has caused an even deeper austerity move with the central bank imposing certain restrictions on imports, which also caused disruption to imported coal supply, impacting power supply from recently commissioned large-scale coal-fired power plants.......

Our Dhaka team maintains contact with government agencies and has seen evidence that the forementioned momentum towards developing the country's known domestic coal resources and increasing exploration to identify new gas fields is waxing. The downturn in key economic indicators has seemingly been an awakening and it is most fortunate that the country has such a world class energy resource as the Phulbari coal deposit..........

Throughout the reporting period and beyond, the Company's Dhaka-based team has maintained contact with the relevant government agencies and there is credible evidence that the "new plans" cited by the Honourable Prime Minister are being framed and that such plans are addressing domestic coal extraction and exploration efforts for new gas. This is exciting news for the Company, the Project and its Shareholders..........

The Company engages positively with local communities, regulatory authorities and stakeholders in its project locations and encourages feedback through this engagement............

GCM remains confident its Strategy and Business Model will deliver project approval and enable the Project to: reduce the Country's exposure to the volatile energy market; deliver a long-term positive impact on Foreign Exchange Reserves; deliver the lowest coal-based energy price and cheapest electricity, enabling expansion and competitiveness of industries; produce new higher paying jobs; and grow the economy............

GCM's Dhaka-based team continued to work with contacts within the government agencies to ensure the Company is in the very best position to engage with the new government once it is in place and fully functional within the 1st Quarter 2024. This communication is two-way and an overview of what would be expected in the Project Proposal has been shared............

The Project area can also support over 2,000MW of installed Solar Power Capacity throughout the life of the Project and this is an adjunct to the Proposal. It is aimed to supply power from the Solar Power Park to both the national grid and the Phulbari coal mining operation, enabling the mine to attain carbon emission neutrality and "Green Mine" status.........

During this last Financial Year, our team continued to work closely with development partner, Power Construction Corporation of China, Ltd. ("PowerChina"). They are a diverse and extremely experienced organisation with the capabilities to support all aspects of the Project. Apart from an MOU focused on coal mine development and Joint Venture Agreements for power plants of 4,000MW (two 2,000MW Stages), as indicated below, PowerChina has also shown interest in the proposed Phulbari mine site Solar Power Park........

If an ally of Tang has paid the 500k, with Dyani and Polo that would give Tang over 40% of the vote.

Adam I'm like you, I want to give Tang the benefit of the doubt, he's got GCM into a great position and possibly on the cusp of something great. But the way he has treated Polo shareholders is nothing short of disgraceful. Maybe he could have good intentions with a future relisting but his contempt and zero contact/explanation for Polo shareholders' money (life savings) is disgusting. Can WE trust Tang? Would he really rock the GCM boat at this late stage? Would he really try to steal GCM's assets? The Board clearly don't trust him, and outnumber him on votes, hence why he's using Polo. So no, right now, without an explanation or definitive replacement, we absolutely can not trust Tang. The Nomad is unequivocal - if Taylor-Wilkinson is removed without suitable replacement the Nomad will immediately resign and then GCM will be suspended from AIM.

Tang could have 40% votes. Probably he has more hidden. Every vote opposing Taylor-Wilkinson's removal counts, and will be needed. No good waiting for the 29th February. Get your votes from your broker and make them count now.

Hopefully more information will be forthcoming before the AGM. Why can't the rest of the Board issue a statement why Taylor-Wilkinson should not be removed?

Would the sp have hit 10p today? More?

Now why would Allenby capital want access to 3m shares?

Same as DGi being paid in shares.

Same as the £500k investor.

All believe good things are coming to GCM.

Where did you see that date Bangla?

That's a Thursday - nice, might make a long weekend out of it!

The rest of the board are blocking Tang. And us shareholders can block Polo. So long as Tang knows shareholders intend to turn up and vote against Polo then that should either force him to show his hand about why he wants Taylor-Wilkinson removed or get Polo to withdraw.

If Tang said somebody from the Bangladesh govt was joining the board then it would be for the good of the project but removing him and leaving the Nomad no choice but to resign is totally unacceptable.

So more information is needed.

Next up funding completion, share suspension ending, hopefully a name for the investor when shares are issued, and AGM announcement.

Bangla - I wouldn't be wanting to remove Tang as he is the lead negotiator and has the links to China/Powerchina. There would be no project without him and its unlikely Gary Lye could step into his shoes. Lye is a GCM man, Tang is international and is involved in energy companies in many different countries. He is the face of GCM. We need to keep it that way.

Redeyemines - the Nomad made clear they would resign immediately if Taylor-Wilkinson is removed and no other suitable people are appointed. Without any further information on why he should be removed or a named replacement we have to keep Taylor-Wilkinson on the board ar all cost or its clear the Nomad will resign and GCM will have to delist.