Member Info for YouKnowItsRight

'Show me the rns then?when did Gcm buy land'

Lol lol ZERO KNOWLEDGE!

Even though it was only over a million shares Adam the actual cash value was relatively small the significance of that volume of buying after the doom and gloom rns is significant. And looks like its carried on today. There's no doubt the rns was to stop the price rising. Now that the price is rising the usual day trippers will jump on which will push the sp up further - I'm guessing exactly what gcm didn't want! There's definitely some plan of action in place by the company and I feel there's definitely a lot of positivity about this getting approval. The ducks are all being lined up and pointing to something happening as soon as the elections in January are over.

Great find Searcher! Looks like yesterday's buyer got themselves a little bargain - given a £3 end game target that could be a nice bit of business done yesterday for them.

Like you I've never been more confident - the corruption around hasina and some of her energy deals stinks to high heaven but when there's nothing left in the well there's nothing left to corrupt.

It's an undeniable and widely reported fact - they have 4 months left of ForEx dollars to import fuel and food and medicines. After that they may get further credit lines or more loans but that's only yet another temporary fix ensuring coal supply for months not even years. There's only 1 way to ensure a 30 year constant supply of coal for the coal powerstations they already have built and which are already demanding loan/capacity payments. They have to dig the coal buried on their land. And only GCM has a project verified, ready and waiting with massive Chinese partners onboard, to produce the first coal within 3 years of approval. For 3 years she can beg and scavenge until the first coal is produced.

Hasina is way past the point of no return - their future is already built around coal power and now she has to secure Bangladesh's future coal supply. And with no money to buy coal the only way to do that is to dig it.

Well pointless RNS - followed by price drop - followed by flurry of decent volume buys that didn't raise the sp or alert the army of sp watchers!

Were the buys just coincidence or was the buyer working in cahoots with the company? If the latter then that has to be a massive positive.

Why is the company reporting this? The Polo loan facility is already in place and its unlikely anybody at Polo could stop Tang issuing the last of the funds. Are they deliberately trying to cause uncertainty and tension and lower the SP?

Continuity may be best for GCM. At least Hasina is fully aware of the state their finances are in and that digging the coal in their backyard is the only way to power all those coal.power stations that will soon be lying idle. Even with the recent debt top ups from the IMF they only have enough ForEx dollars for 4 months import. What then? Where will the coal come from? China to the rescue?

https://english.news.cn/20231219/68bab20f33594a3892bf4b1a756e045e/c.html

It's been said that part of the deal for the licence that was given to AsiaEnergy included the proviso that Bangladesh had to repay all development costs to the company if no mining was ever permitted. Costs must be somewhere in the region of at least £50m to date.

Would this see a return of 25p a share should Bangladesh be forced to cough up?

Is there any truth that this is written into the agreement?

coal consumption by country 2023

china 4.3t

india 966.3b

united states 731.1b

germany 257.5b

russia 230.4b

japan 210.6b

south africa 202.3b

south korea 157.1b

poland 148.8b

australia 129.6b

turkey 116.9b

indonesia 102.6b

kazakhstan 86.6b

taiwan 72.6b

ukraine 59.4b

vietnam 56.6b

czech republic 49.4b

serbia 43.2b

canada 42.9b

thailand 42.7b

united kingdom 41.5b

greece 38.1b

bulgaria 35.2b

malaysia 33b

brazil 27.3b

romania 26.9b

mexico 22.5b

philippines 22.4b

spain 21.9b

italy 18.8b

netherlands. 18.2b

chile 14.1b

france 12.9b

hong kong 12.3b

hungary 11.7b

colombia 11.4b

north korea 10.7b

****stan 10.2b

israel 10.2b

bosnia and herzegovina 9.5b

mongolia 8.8b

morocco 7.2b

slovakia 6.7b

north macedonia 6b

finland 5.3b

portugal 5.3b

laos 5.2b

uzbekistan 4.8b

slovenia 4.1b

belgium 4b

denmark 4b

zimbabwe 3.4b

sweden 2.9b

new zealand 2.8b

ireland 2.5b 527

united arab emirates 2.5b

kyrgyzstan 2.4b

sri lanka 2.3b

bangladesh 2.1b

afghanistan 1.9b

cambodia 1.6b

puerto rico 1.6b

tajikistan 1.5b

montenegro 1.5b

iran 1.5b

argentina 1.4b

botswana 1.4b

peru 1.3b

dominican republic 1.2b

croatia 1.2b

new caledonia 1.2b

norway 824.5m

https://worldpopulationreview.com/country-rankings/coal-consumption-by-country

New COP28 draft text does not mention phase out of fossil fuels.

https://www.reuters.com/business/environment/new-cop28-draft-text-does-not-mention-phase-out-fossil-fuels-2023-12-11/

Hmmmm tough 1 to answer that Papi!

They're leaking about $2billion per month.

That's 8 months max left in the kitty.

What then?

According to this report by 2027 the plan is that they will be importing $5billion per year just on importing coal.

It would be comical if it wasn't such a disaster for Bangladesh what Hasina has made of their energy planning.

No ForEx $dollars means no coal import which means they simply have to dig the coal that's buried in their own back yard.

https://www.textiletoday.com.bd/energy-imports-will-cost-24-30-billion-by-2030

China announced it will establish a backup coal production system by 2027 to stabilise prices and secure coal supply, and aims to have 300 million metric tons of "dispatchable" coal production on hand by 2030.

As China produces over 4 billion tons of coal each year, the direct operational impact of creating an additional reserve of around 7%-8% of total output may not be a major challenge for the world's largest coal miner and consumer.

https://www.reuters.com/markets/commodities/good-bad-bits-about-chinas-backup-coal-system-2023-12-07/

Bangladesh news outlet reminding Bangladesh people what they are missing out on -

Cheap electricity and jobs keep Serbia tied to coal

https://www.bssnews.net/news/161933

The same with coal. No ForeEx dollars = no coal import. Yet according to this report Bangladesh has another 5.8 GW of coal power stations under construction.

If they can't afford to import coal how are they going to run all their new and existing coal power stations?

There's only 1 solution for whoever wins the election.

https://www.downtoearth.org.in/news/energy/india-indonesia-bangladesh-vietnam-host-to-most-under-construction-coal-projects-worldwide-report-93039

Absolutely it is. As the ForeEx dollars reach an all time low Bangladesh will soon not be able to buy gas on the global markets.

https://www.ft.com/content/3ca20f13-7582-4a7b-85a6-3eed0b6cf476

Earl of Aim really needs to read up a bit more.

'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.energybangla.com/open-pit-coalmining-possible-at-phulbari/

Fine, but even with the go ahead, how long would it take to get to production? Years and years?

Read the project- 3 years from approval to the first coal. Only GCM has a project developed with a feasibility study and extensive planning already in place.

3 years from approval to the first coal.

Clear as day it is coming.

They have very few ForEx dollars left. With no dollars than can't buy coal on the global markets. Their main export market the garment industry is in tatters due to the falling value of the Taka and high energy costs to produce garments. Plus all the power cuts suffered last year has slashed production and left their economy in decline. No exports means no dollars coming in.

Irs only a matter of months before they run out of dollars completely.

So what will they run the coal power stations on? They can't afford to close the powerstations down due to debts or to leave them idle as they still have to pay $billions in capacity charges.

So what is the answer.

The reason why Powerchina yet again confirm their commitment to the project.

Bangladesh simply has to dig the coal just to survive.

https://www.google.com/amp/s/en.prothomalo.com/amp/story/business/local/sm7o10x9ho

Imagine how much better the Bangladesh economy would be now if they hadn't kicked the can since 2019 and made the profitable decisions that other countries like China India Germany and even the UK have made to mine coal.

'Mr. Ding Zheng Guo, Chairman of PowerChina International Group Limited, stated:

"POWERCHINA is delighted to be a partner with GCM to deliver an integrated mine and power plant for the people of Bangladesh. Completing the JV Agreement and EPC Contract were very important steps in progressing the combined Project. As the Power Plant contractor, we are committed to a positive relationship with the community and to construct an environmentally friendly power plant for the benefit of the local people.'

https://markets.ft.com/data/announce/full?dockey=1323-13938394-7VURFVTM0DSJQ47CEGRGLK4C0R

A few whoppers from Earl of Aim yesterday -

'Well Mr Tang is not convincing the locals or the government.

GCM will never get the License as people of they region not selling their fertile land for coal at any cost.....

I've been in Bangladesh and spoken to locals just last year,'

Not sure who you spoke to but just last year local MP Shibli Sadiq, who presumably speaks for the people, was desperate for the mine to be authorised -

'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.energybangla.com/open-pit-coalmining-possible-at-phulbari/

Bangladesh simply cannot meet its existing energy generation payment commitments to the private sector, and it will soon run out of dollars and not be able to import coal either.

What then?

'Govt owes Tk23,000 crore to IPPS

The proprietors of private power plants currently have an outstanding bill with the government amounting to slightly over $2 billion, which is around Tk23,000 crore, in unpaid electricity bills.

Recently, Bippa wrote a letter asking for a meeting with the Prime Minister to overcome these crises and saying that the entrepreneurs in this sector are on the verge of bankruptcy. The Prime Minister's intervention is necessary for the entrepreneurs' survival.'

https://www.google.com/amp/s/www.tbsnews.net/bangladesh/energy/pvt-power-producers-seek-default-rule-waiver-amid-financial-headwinds-747494%3famp