The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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
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.
POWERCHINA has made a strong contribution to Bangladesh, having completed 10 infrastructure projects including 5 power plants totaling US$750m and 12 current projects amounting to US$4.6 billion including two coal fired power plants of 1,670MW. We look forward to working with Datuk Michael Tang PJN and his team to deliver a world class proposal that is beneficial and acceptable to the Government of Bangladesh.”
https://ep-bd.com/view/details/news/ODA5
14 working days left in quarter 1.
14 days to project submittal.
With GCM partners Powerchina.
Powerchina owned by the Chinese government. 140,000 employees. 157 on the Forbes 500.
Mine building finance in place by Powerchina to the tune of $1billion.
Of course Earl of Shame, you are right, it's all just a scam!
35p?
I'm here for £1 £2 £3
Remember this $1billion agreement with Powerchina is just to prepare the site for open pit mining.
There will be another agreement coming for the actual mining. That will be simply massive.
They also may try to revive the 3 coal power stations at the minemouth.
Then there is the solar park.
The sky really is the limit and who knows what Powerchina have in mind.
2 years to the coal Earl of Shame
Can't you read?
Laughing at Earl of Shame
'The Mine Construction Contract duration is four years, with overburden removal to expose first coal taking some two years. The Company and PowerChina expect to enter additional contracts covering coal extraction and associated activities to support ongoing open pit mining operations and the Project's commitment to deliver high quality coal supporting at least 6,600MW power generation for over 30 years. A joint proposal with development partner, PowerChina, will shortly be presented to the newly elected Bangladesh Government.'
Get that JOINT proposal on GCM!
Lol those famous last words!!!!!!!
I was expecting the NED RNS - this is just insane!
It's been a long road but finally it's coming together.
Was the Ned RNS logged Friday for 8am Monday?
That would certainly add fuel to the fire!
'Rather than turning to the extraction and use of our own gas and coal, importance is being given to imported coal, LNG and oil-fire power generation.'
https://en.prothomalo.com/opinion/interview/fg61gpfrzu
Cash to last to May24
Submittal March 24
Acceptance Apr 24
Buy out May24
There won't need to be a fundraise in May :)
Mms all over the place Lol
I was serious, I really wouldn't want to be out of this over the weekend! :)
Anyone buying?