Gcm Resources Share Discussion Threads

[baxtea1] 21/1/2019 08:15

Some suckers over 50% down from last weeks pump & dump high. Ouchy

[daler1966] 21/1/2019 08:14

Tree shake

[baxtea1] 21/1/2019 08:13

Lol. Standby conspiracy theories & excuses for this mornings share price collapse

[baxtea1] 21/1/2019 06:14

Rdog
Posts: 773
Opinion: No Opinion
Price: 37.50
A companies website being down
Has been the topic of discussion all day. Pretty much sums up the calibre of majority of PI on lse


😂😂Well said fella. Bet their families had a cracking weekend watching dad on the internet.

Hope everyone else had an enjoyable weekend. Lets see what excitement this week brings 😃

[cudmore] 20/1/2019 14:11

NOMAD update this week. Wouldn’t want to have shorted these and still have it 😆

[behuge] 19/1/2019 15:18

BANGLADESH WAY BEHIND ACHIEVING RE TARGET

3rd January 2019 Mohiuddin Miah


The Awami League-led alliance government has achieved an enormous success in the power sector in their last two consecutive tenures. In 2009, the generation capacity was only 4,942 megawatt (MW) and now the capacity is (including 2,800 MW of captive) 20,430 MW. Despite the success in generation; the government could not ensure supply of quality power to the consumers because of lack in transmission and distribution systems. On the other hand, the government took some bold initiatives like depending on import to ensure the primary fuel supply. We have to wait for couple of years more to see whether the impact is positive or not in the domestic market. However, experts thought that the government should be more energetic about indigenous resources exploration. During the tenure, the government also focused on making policy and regulations and Power Sector Master Plan which can be noted as a success for them though the coal import and handling policy is yet to be developed. A significant feature is to take decision to scale up contributions of renewable energy to conventional electricity production. The Renewable Energy Policy of Bangladesh mandates that 10% of electricity to come from renewable energy sources by 2021. Irony is that the government fall way behind achieving this target. The government established Sustainable and Renewable Energy Development Authority (SREDA) in 2014 to promote renewable energy and energy efficiency. To strengthen international cooperation, Bangladesh became one of the initial members of the International Renewable Energy Agency (IRENA), the only inter-governmental agency working exclusively on renewable energy.



Present Situation

According to SREDA, the present generation capacity, including the old 230 MW Kaptai hydropower plant, is 559 MW which is only 2.95 percent of total generation. Almost 326 MW of electricity is being generated from solar power which is almost 58 percent of total renewables. Solar Home System is one of the most salient features in the country’s RE sector.



Apart from that there is less opportunity in ‘biogas to electricity’ as well as ‘bio-mass to electricity’. However, at present the government has no plan to go for hydropowers as it has environmental impact on water echo-system. According to Dipal Chandra Barua, President of Bangladesh Solar and Renewable Energy Association, almost 5.2 million houses use solar power in this country which accounts roughly 12 percent of the consumers who have access to electricity. However, the state-owned development financial institution dedicated to promote/finance infrastructure and renewable energy projects in Bangladesh named ‘Infrastructure Development Company Limited (IDCOL)’ has started the solar home system (SHS) program in 2003 to ensure access to clean electricity for the electricity starved off-grid rural areas of Bangladesh.



Bangladesh enjoys good amount of sunshine and the use of solar energy continues to grow while the cost of solar technology continues to decline. Net metering is one of the tools to popularize the RE-based electricity generation in the country. Net metering is a policy approach designed to encourage distributed renewable energy development by allowing utility customers to generate their own electricity from solar or any other renewable sources and use the electricity produced to offset the amount of energy they draw from the utility grid (sometimes called the distribution grid) and any access generation can feed into the grid. Customers are only billed for their “net” energy use and receive credit usually in the form of kilowatt-hour (kWh) during a given period. A net balance in favor of the customer is carried forward to the next month while a balance in favor of the utility is settled at the end of the month as usual. Net-metering can potentially drive widespread implementation of distributed generation by incentivizing end-users to adopt localized power generation through renewable energy technologies such as solar, wind and biomass. As of 2017, 46 countries have some forms of active net metering policy; local governments have adopted net metering policies in another nine countries in the absence of national-level actions. Realizing its importance, the government of Bangladesh developed a net metering guideline to establish a mechanism for distributed RE integration to the grid.



Targets to be achieved

The initial goal of the renewable energy policy-2008 was to generate 5% power from renewable energy sources by 2015 and 10% by 2020. However, according to Power Sector Master Plan-2016, there is a target to generate 2,470 MW of power from renewable sources within the year of 2021. Unfortunately, they failed to achieve the target of 2015. At that time the RE share was 420MW (including 230 MW kaptai hydropower plant) which was less than 3 percent.To achieve the target of 2021, they will have to increase the generation capacity by almost 1,900 MW with having only 2 years in hand. As of now, the government was able to add only 140 MW after 2015. If the government moves on with this pace, it would be an impossible task for them to achieve.



In this regard, Member of SREDA Siddique Zubair said this is a very challenging task to reach 2,470 MW generation capacity using renewable resources by 2021. We are trying our best by exploring all the opportunities and resources that are available. He added that mostly we have to depend on solar energy. Moreover, we are trying to explore the wind energy also. We already signed an agreement with US-DK Green Energy (BD) Ltd to construct 60 MW wind power project at Cox’s Bazar which is under planning stage.

In addition, the National Renewable Energy Laboratory (NREL), under U.S. Department of Energy, recently published a report on wind mapping. The gross wind potential is more than 30,000MW in Bangladesh's southern coastal belt, said the report styled “Assessing the Wind Energy Potential in Bangladesh”. Pointing to the issue whether wind energy can compete with the local wholesale energy market, the report states that “Although this work is an important first step, other data inputs are needed to answer this question, including turbine selection and knowledge of the unsubsidized cost of wholesale power.”



However, Professor Ijaz Hossain, Department of Chemical Engineering, BUET, said there is a huge gap existed between the potentiality and reality. Generation of 30,000 MW electricity from wind is a unrealistic thought for Bangladesh.



Appreciating ‘solar rooftop system’ as an important opportunity of Bangladesh, Mr. Zubair said we are already operating a number of solar rooftop plant net metering system under a pilot project. We have formulated a guideline for net energy metering to integrate distributed renewable energy systems into the grid. So, we are trying to integrate all the resources that we have.



Why government lags behind?

Responding on a question, why the government failed to achieve RE target of 2015 and lagging behind 2021 target, Prof Ijaz said the targets need to be set based on facts and reality. The target to get 5 percent or 10 percent electricity from RE sector was set without doing any kind of evaluation or feasibility study. On the other hand, the government was really slow in assessing the potentials of RE resources. Wind mapping which was recently completed should have done couple of years ago, yet a study on biomass to energy to be completed. Moreover, they just formed a guideline on net metering system which also should have done 3 or 4 years back. If all that happened accordingly, we could start the implementation by now. Prof Ijaz noted that the big projects on solar are not booming because of land scarcity. What the government can do is acquiring the land for the projects and then proceed with further formalities, he said.



However, Director of Institute of Energy at Dhaka University Siaful Huque still believes that it is possible to achieve the target of 2021. He said it took couple of years to formulate the guidelines and regulations. Now the government is set to implement the plans. A number of plants have already started operation. Recently, Prime Minister Shaikh Hasina inaugurated a solar park in Teknaf with 20MW of capacity.



The government should strengthen SREDA. However, the utility companies got their target to install rooftop solar system and they need to show their performance in reaching the target timely. The government must understand an important fact that they need to create posts dedicated to renewable energy and energy efficiency in government and private organizations. The Ministry of Public Administration may work on it.He also emphasized on research-based works.



Energy efficiency target

Mr. Siddique Zubair is very positive about the progresses made so far in energy efficiency. He said the energy efficiency target which is to achieve 15 percent (baseline FY2013-14) by 2020 is more feasible than RE target. Under the government adopted action plan for energy efficiency and conservation, a target of 10%, 15% and 20% energy conservation has been set for achieving by 2015, 2020 and 20030 respectively. However, he said, it would require around US$ 3 billion to achieve the energy efficiency target of 2020.



Collaborating with multinational donor agencies and financing agencies like World Bank, JICA, Asian Development Bank (ADB), GiZ, Infrastructure Development Company Limited (IDCOL), Bangladesh Infrastructure Finance Fund Limited (BIFFL); SREDA is working to achieve the energy efficiency target. Such as:

· Promotion in textiles, steel re-rolling mills, waste to energy, waste heat recovery from power plants to run cold storage, improved rice parboiling;

· Creating awareness about energy efficiency and conservation among the students of college & university level through seminar, symposium & innovation fair;

· Replacing conventional inefficient bulbs with energy efficient LED bulbs in the streets of various municipality & city corporations;

· Preparation and implementation of Country Action Plan for Clean Cook Stove 2013;

· Innovation and marketing of energy efficient improved cook stoves;

· Inspiring to install waste heat recovery and co generation systems amongst the entrepreneurs who have captive power generation in their industries;

· Installation of Improved Rice Parboiling System;

· Making draft of “Green Building Rating System” and “Green Building Guideline”;

· Preparation of draft of “Standard and Labeling of Appliance Regulation” in cooperation with SREDA & BSTI.



Bangladesh is on self-motivation of working on reducing emission although it has negligible contribution to global warming. Various initiatives have been taken to limit the global warning through progressively reducing use of fossil fuels.

[behuge] 18/1/2019 19:49

China's energy giant inks deal with leading British company for Bangladesh power plant
Source: Xinhua| 2019-01-18 17:37:57|Editor: zh
DHAKA, Jan. 18 (Xinhua) -- China's energy giant PowerChina signed an agreement and a contract with GCM Resources, a leading British resource exploration company, for development of a coal-fired power plant in Bangladesh's Dinajpur district, some 338 km northwest of the capital Dhaka.
Both the Joint Venture (JV) deal and the engineering, procurement and construction (EPC) contract were signed at a ceremony in Dhaka on Thursday.
The proposed project, which is part of a broader strategy by GCM to generate 6,000MW of low cost electricity for the Bangladesh market utilizing domestic coal, is in line with the government's energy development master plan.
The power plant, with two units of a capacity of 1,000MW each, will be built by ultra supercritical technology, which provides lower levels of emissions and delivers the lowest cost of power.
The project would deliver a sustainable power solution for the development and progress of Bangladesh and would have a substantial multiplier effect on the country's economic and social advancement, according to a statement of the companies.
Ding Zhengguo, chairman of PowerChina International, said they were 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 are 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 constructing an environmentally friendly power plant for the benefit of the local people."
Michael Tang PJN, executive chairman of GCM, said, "The JV agreement and EPC contract are key milestones for the development of the 2nd proposed 2,000MW power plant project at the mine site and aligns with GCM's strategy to present a holistic power solution to the government of Bangladesh which can generate 6,000MW at the lowest cost for the country."
"The Phulbari Coal and Power Project will deliver a significant multiplier effect on the nation's advancement," he added.
PowerChina is an investor and contractor for three large projects in Bangladesh - two coal-fired power plants with a combined capacity of 1,670MW and a JV for the Dhaka Elevated Expressway.

[baxtea1] 18/1/2019 15:31

Lol, apparently its due to the nomad issue that this is being held down now😂😂;😂😂


Seriously, you dimlows deserve what you got yesterday, jeez.

Outa here, too much stupidity going on 😂😂😂

Have a lovely weekend folks

[mickb1234] 18/1/2019 14:55

Whole new set of rampers spiked at 70p on LSE! Gpback and Beeshoney gone quiet, they must have made a fortune yesterday! 😂😂 At least others are more honest eh Baxy!

That meeting did look impressive though, some heavyweights present. Why be there unless they know they are welcome? Whilst Tang and co are making fortunes along the way this really does look like having a positive ending and they'll say the end justifies the means.

[chinaman 61] 18/1/2019 14:11

Where's the big buyers pls buy more it's gonna go up and higher

[martinfrench] 18/1/2019 13:09

just name names behuge(and clearly you aint), go on be brave. oh, and btw, look at the scoreboard

[jayviperjayviper] 18/1/2019 12:46

C/O NasiRul off LSE board

Subject matterToday 11:58
lots of guesswork on this board from people just trying to will the share price up or down.

The latest spike is one of several similar patterns during the past 3 years. The reason. Tang is heavily influenced by his main investors, primarily Kilkenny in the early days, and now Dyani. When they need to shed shares, the only way for them to do it at a price that gives them value is to stimulate PI interest. The way to do this is is by releasing a positive RNS, which are well timed and truthful.
This sends the masses scurrying for stock in the hope of the multi % gains. - Meanwhile, those bigger investors release the shares and enjoy the additional equity gained though the inflated share price - As those shares are sold then the share price drops like a stone back to parity.
Thats it . Nothing more . Nothing less. The release of shares by Dyani is not due to them believing the deal is poor or not happening, but for them to realise some capital for the work they have done and to keep their share holding at a reasonable level. - They will hold plenty enough to make multi millions from the eventual outcome.

The most important aspect to this share price is locked in the discussions between PowerChina,GCM & the advisors from the AL Power & Energy Division. It is my guess that these are now taking place, as activity in Dinajpur in relation to news items, local government profile raising on the matter and delegate visits to Dhaka for a variety of proposal presentations on infrastructure change & investment is far too frequent and high profile now.

The key is however still firmly held by the Head of the Energy & Power Division, who's acknowledgement of the Scheme of Development , and in its consideration, is totally reliant on how much she and her close ministers benefit from it. - Not of course through bribes, but in those 'legal' benefits such as contract awards and similar lines of indirect income.
In my view, this is actually extremely close.

[glenbo1] 18/1/2019 12:37

ZIOCHave a JV with Glencore who fund there ongoing project .ZIOC have 51%Glencore 49%Maybe there will be a renegotiation here between the parties.

[888icb] 18/1/2019 12:36

It is great to see the derampers hard at work today. If it is just the same old basket case its been for the last 10 years why do they feel the need to go into overdrive with negativity following the announcement of the JDA.
The reason is that the chances of this project being approved to mine the coal and to get the finance in place is better than its ever been. GCM and PowerChina will have been working hard for some considerable time to ensure they will deliver on the JDA objectives. They would not waste their time if they were not very confident and the green light for the coal is vital to the financing of the power plant. They need to keep up the momentum. Yesterdays Bangla Press reports show they are on the case on the PR front.
The derampers want cheap shares because further progress could be announced at anytime plus someone could make a bid for GCM.
Exciting times are ahead.

[martinfrench] 18/1/2019 12:17

expand.....?

[glenbo1] 18/1/2019 12:13

What about ZIOC ??

[martinfrench] 18/1/2019 12:03

amazing how 38p quietens the crowd....is anyone willing to play musical chairs again with this knowing exactly what can/will happen? we are now looking up rather than down so without further news this has run out of fuel for now.

[chinaman 61] 18/1/2019 11:42

Come on buyers keep on buying it's gonna go up and up and away