Member Info for YouKnowItsRight

They say 25 acres of solar panels is required for 5MW generation. So 12000mw would roughly be 10miles long 10 miles wide of solar panel.

Hamid is talking rubbish and would take years and massive finance to build any where near that amount.

There's only 1 way for Bangladesh to reduce electricity price - that's reducing the the coast of the coal and gas to generate the power.

They do not have many options for cheap gas but they certainly do have options for cheap coal.

Hasina has once again placed her trust in Nasrul Hamid, who has been serving as the state minister for power since 2014.

Eleven state ministers took their oaths of office before President Mohammed Shahabuddin for the formation of a new government at the Bangabhaban’s Darbar Hall on Thursday, Jan 11, 2024.Eleven state ministers took their oaths of office before President Mohammed Shahabuddin for the formation of a new government at the Bangabhaban’s Darbar Hall on Thursday, Jan 11, 2024.

Hamid said this time his aim is to produce electricity at a low cost.

“Big coal projects have started. We are switching away. We are working on a 12,000 MW solar project. Bringing these into the system as quickly as possible is a major challenge.”

https://www.google.com/amp/s/bdnews24.com/amp/story/bangladesh%252F057ot1o86m

'…Phulbari has been right for the last 15 yrs.'

Posting 15 years? That's some bitterness towards a former employer! Lol

Remember every nay sayer is right until they are wrong. The financial situation now is so desperate for Bangladesh that they only way they can get coal for their power stations in the coming years is by mining it themselves.

How will they buy coal to import after 3 months?

'The current forex reserves in Bangladesh will cover import bills of more than three-months, which is considered by the IMF as a minimum reserve for a low-income country.'

https://www.google.com/amp/s/www.dhakatribune.com/amp/business/336422/forex-reserves-decline-after-1.27bn-acu-payment

Not named on that retained list - will the current energy minister keep his position? He certainly knows the problems.

'State Minister for Power, Energy and Mineral Resources Nasrul Hamid said the new cabinet may be formed by 15 January.....

Answering what challenges may there be for the new government in the future, the state minister said, "The biggest challenge is to keep electricity and energy uninterrupted at the customer level. Keeping it [power and fuel] uninterrupted by keeping all the problems in mind. Keeping fuel and electricity prices affordable at the consumer level is the biggest challenge for the future. I think our ministry is ready for it."

"We should plan for the future keeping all the challenges in mind," he added.

When asked about the challenges of the power sector, he said that the biggest challenge of the power sector is to maintain supply.'

https://www.google.com/amp/s/www.tbsnews.net/bangladesh/politics/new-cabinet-may-be-formed-15-january-nasrul-hamid-771650%3famp

Spot the missing name -

'AL President and Prime Minister Sheikh Hasina is going to form her new cabinet, dropping a remarkable number of ministers and state ministers from the current cabinet..................

The current cabinet has 47 members, including Prime Minister Sheikh Hasina.

Of them, Obaidul Quader, Hasan Mahmud, AK Abdul Momen, Anisul Huq, Dipu Moni, Imran Ahmed, Saifuzzaman Chowdhury, Bir Bahadur Ushwe Sing, Zahid Faruk, Khalid Mahmud Choudhury, Zahid Ahsan Russel, AKM Enamul Hoque Shameem, Mohibul Hasan Chowdhury may retain in the forthcoming cabinet, the party sources added.'

https://www.daily-sun.com/printversion/details/729630

'Coal, considered one of the primary energy sources with the lowest global costs, is derived from five coal fields—Barapukuria, Phulbari, Dighipara, Khalashpir, and Jamalganj.'

https://bangladeshpost.net/posts/8-coal-fired-power-plants-on-the-go-129043

Bangladesh witnesses threefold increase in coal-fired power generation, resolving energy shortfalls

https://apparelresources.com/business-news/trade/bangladesh-witnesses-threefold-increase-coal-fired-power-generation-resolving-energy-shortfalls/

'My special subject is Hasina!'

Phulbari have you spent much time with her these last few years?

Excellent find Searcher.

That news should put 10p on the share price tomorrow.

Oh wait a minute, we can't trade its suspended.........

Lol :)

How are they going to buy coal to import when the dollars run out?

https://www.google.com/amp/s/www.business-standard.com/amp/world-news/bangladesh-s-forex-stands-at-17-20-bn-short-of-imf-s-relaxed-target-124010300605_1.html

Agree with you Henry. Dyani we can only guess at their position but the lobbyists DG Infratech holding on to their shares is significant as they are dealing direct with the government. Also Keith Fulton has 1m shares as part of his director's remuneration. All are holding and no doubt will want to protect them.

'There will be no short-term solution to Bangladesh’s energy woes unless the economy and dollar inflow improve. In the medium and long terms, the country must reduce the import dependency on primary energy. We must explore and exploit all three indigenous energy sources—gas, coal, and renewable energy.'

https://www.thestar.com.my/business/business-news/2024/01/02/energy-poor-bangladesh-and-the-countrys-transition-obligations

Trading is suspended so all the talk is irrelevant for the next 3 weeks. You're either in or sat out watching. Hopefully we will have a positive outcome. But the way the ducks are lined up I'm happy my shares are sat next to Polo, Dyani's and all the rest who are involved in this project. They win we win.

'I'm also realistic that the management of GCM only have one priority, themselves.'

Lol And? Of course they only care about themselves. There the ones in the front line doing the legwork, going through what must be a tedious process, having tondeal with a corrupt government, having boots on the ground winning over the locals, no doubt getting threats to their safety from Anu and his mob. Everyone knows the project is valid and could be a massive success for Bangladesh. Even the Chairman of PowerChina is hands on with getting the project up and running. But unfortunately a corrupt government only sees what's best for individuals and not the whole of the country. So far anyway.

And you buy a few shares on your laptop hoping to make a quick profit and think you're owed a living!

It's simple, if you think the company and Tang is as rotten as you say why did you buy shares in the company?

I suspect he is very much linked to dyani somehow....

Suspect or have proof? On what grounds do you suspect?

It's clear from the rns of Jan23 that on that project proposal Dyani have a clear and defined set of duties and are dealing direct with the Chinese Government. That would suggest Dyani are a separate entity and given the way the Chinese government works are most likely native to China.

Can Tang shaft GCM pi shareholders without shafting Dyani or Polo? Or the Bangladeshi lobbyists DG Infratech Pte Ltd? It would appear Dyani is the connection to China and is at the forefront of all the negotiations and collaborations with the Chinese government. Its unlikely Tang can simply steal the licence and go it alone without the Chinese. And without Dyani. Trading has been suspended on the back of withholding the Polo funds that already had a facility in place and that Tang controls anyway. Was that a convenient excuse to suspend trading? Does that keep the price static for possible behind the scenes negotiations or public announcements? If GCM was going under then would any of Tang's buddy's or even the lobbyists try to flog as many shares as possible prior to the suspension? There was no urgent sell off prior to the announcement - in fact it was the opposite, price rose significantly due to a high volume of buying. MMs were trying to bid for any amount of shares as well, instead of the usual no quote with this share. My guess is something significant could be happening behind the scenes. Guess we will find out either way over the next 3 weeks.

Dyani and Polo stand to lose far more than all of us.

Somebody has bought up all those sold on the back of the suspension RNS. Polo have loaned £3.1million. Are they really going to baulk at sending the remaining £400k loan to keep the company going until after the election and write off their £3.1m loan and share value investment.

The company expects the funding and accounting issues resolved in 3 weeks - and then the suspension will be lifted and shares can be traded again.

I wonder will a massive deal be done within them weeks? Without any noise? Who knows, but I know this much I'm keeping my shares right besides Dyani's and Polo's!

Panic over!lol

Is Tang really this petty that a deal worth £billions and he's trying a last tree shake conning long-suffering shareholders for their shares? Someone is buying everything that is being sold. Disgraceful really.