Gcm Resources Share Discussion Threads

[zen12] 20/10/2020 08:19

Also this bit:Hence Bangladesh must continue relying on coal. We must not let our coal at mineable depth remaining buried, and exploit it as much as possible applying proven technology for impact management. Bangladesh must keep all options open. Given the huge demand, renewables can never make more than 10-15% contributions.

[zen12] 20/10/2020 08:18

Yep..it's changing:· Keeping all options (coal local and imported, own gas and LNG, nuclear, renewables) open. Power import may be capped to 10% of the demand by 2041.· Considering mining of coal from Barapukuria and Phulbari on priority basis and setting up mine mouth power plants.

[888icb] 19/10/2020 23:50

Experts at a virtual discussion suggested conducting a realistic and proactive review of the Power System Master Plan (PSMP) 2016 against the backdrop of the COVID-19 pandemic and the changing the world order. They stressed on the need for realistic projection of demand, appropriate mix of primary fuel, harnessing and optimally utilizing domestic primary fuel resources, considering all options of fuel diversification, expediting, updating and modernization of power transmission grid, ensuring energy efficiency and better coordination between the power and energy sector with the ultimate objective of achieving sustainable energy security.
There were a number of agreed recommendations


Recommendations
The EP digital conference had meeting of minds on the following:

· Situation and circumstances necessitate reviewing the PSMP 2016 in its entirety. Experts suggested for an integrated Energy and Power Planning and for a much more coordinated approach between power and energy sector by ensuring smooth supply of primary fuel for avoiding generation capacity remaining idle.
Here are the relevant points for GCM investors

Ensuring a balanced fuel mix of domestic and imported primary fuel taking into consideration the challenges of exploiting discovered coal resources, lack of capacity of BAPEX for exploration of petroleum in onshore, COVID -19 pandemic creating challenges for attracting investment in offshore exploration.

· Reviewing the almost exclusive dependence on imported fuel (coal and LNG) in consideration of challenges to development of coal port and LNG terminals. Taking into account the impact of COVID-like situation, geopolitics, disrupting supply chain.

· Keeping all options (coal local and imported, own gas and LNG, nuclear, renewables) open. Power import may be capped to 10% of the demand by 2041.

· Considering mining of coal from Barapukuria and Phulbari on priority basis and setting up mine mouth power plants.

The last one is particularly important. Exactly what GCM wants MINING OF COAL FROM BARAPUKURIA AND PHULBARI ON PRIORITY BASIS AND SETTING UP MOUTH POWER PLANTS.

The situation regarding own coal is changing and there is Clear move amongst the experts in Bangladesh that Phulbari should be a priority.

[888icb] 19/10/2020 22:46

The other bb also has a lot of posts at present and also suffers a lot of derampers.
A poster this evening decided to post some facts about Hasina and open pit mining.

Facts and SanityToday 12:11
There has been so much misunderstood/wrong/mis information posted on this board over the coming days I have decided to post a few facts, I will try and avoid opinions. I have a substantial holding in this company and first bought shares in it over a decade ago. I hold so have an interest in this project going ahead.
Todays myth is that PM Sheikh Hassina will not change her mind. Well in 2016 she did a television presentation espousing the benefits of open pit mining . I posted about it at the time, maybe on this board maybe another, it was also confirmed by the company as true.
'Bangladesh’s Honourable Prime Minister Sheikh Hasina addressed the nation via television on 27th August this year and displayed pictures and referred to very successful open coal mining and associated power generation in Germany’s Cologne area. She referred to the successful environmental management of these operations, including water management and stated that animals and people happily lived in close proximity to the mines and power plants. The German coal mines extract a huge amount of groundwater which is used for city and town water supplies, industries and also for the environment. To protect the environment they inject some of this water back into the aquifer system in wells surrounding the mining areas to ensure the water level away from the mining areas is maintained at natural levels.

The video was on you tube but I can no longer find it, if you do the relevant part is about 34 minutes in.

[pwhite73] 19/10/2020 22:28

ljs1

Good find taken from LSE chat thread and its today 19/10/2020. Here are the first stirrings that things are not right with the Bangladeshi power system post Covid-19. I did say things are about to move because of Coronavirus.



Just few snippets but the whole article is from various experts imploring Bangladesh to exploit its own domestic supplies instead of relying on costly imports.

"Considering mining of coal from Barapukuria and Phulbari on priority basis and setting up mine mouth power plants."

"Advise of foreign experts should be taken as Bangladesh can no longer avoid going big on imported primary fuel."

"Hence Bangladesh must continue relying on coal. We must not let our coal at mineable depth remaining buried, and exploit it as much as possible applying proven technology for impact management"

[longjohnsilver1] 19/10/2020 21:28

On another bb.

99icecream
Posts: 277
Price: 12.75
No Opinion
Opinions on new Power System Master Plan (PCMP)Today 20:25
Discussion of changes to 2016 PCMP / new PCMP. Phulbari open pit coal gets several mentions as cheaper than imported coal / gas / etc.

hxxps://ep-bd.com/view/details/article/NTM4Mg%3D%3D/article-title?q=experts+for+realistic+review+of+master+plan


Nothing will be happening under Hasina mandate. The usual talks in Bangladesh about energy


10p coming

[longjohnsilver1] 19/10/2020 20:56

Longjohn said it

Pump and dump

10p coming

[malcolmyoung] 19/10/2020 20:07

LongJohnDanglyDong# you are posting stuff like a zombie, think what you are posting. To reach 60,000MW would take the Banglas a million years, in 2001 they were producing just 4000MW for the whole country.
Even if you top-slice your 60,000MW by 33%, to generate 40,000MW they need Phulbari as the backbone of their generation and distribution system.
Stop copying and pasting garbage.

[invester2010] 19/10/2020 19:36

They now teh price and value of nothing. lol. 13.5o to buy - no change the. They can keep it here till cows come home, and have yet to buy more. nice and easy. 22/25p before the next update - incomming. Cheap coal for the client - vs expensive imports? duh...not bloody rokkect science is it.

But trols will he trols hey.

[888icb] 19/10/2020 19:28

If they still feel the need to protest in London after 14 years they clearly aren’t being very successful. Utterly pointless because they can’t be delisted for being a coal company. Even if they were delisted it wouldn’t make any difference to GCM’s right to mine at Phulbari Or to GCM as a Company. The annual protest is a pointless non event.

Now why would Polo keep loaning money to a company where it holds 30% of the shares?
It’s not rocket science is it? Polo believes that GCM will be very valuable and hence its shareholding will be very valuable. It is therefore also happy to take shares in exchange for its loan.
The problem Polo would have if it wanted to convert its shares now is it would have to make an offer for the whole company as it’s shareholding would go above 30%. But there is no reason why it would want to convert the loan notes at this point and will be happy to make its money when the green light is given for Phulbari.

[longjohnsilver1] 19/10/2020 19:13

Not one single word about local coal...hahahaha


The existing Power System Master Plan stipulates for 35% power generation from imported LNG (liquefied natural gas), some 35% from imported coal, 15% from renewable energy, 10% from nuclear energy and five% from petroleum oil by 2041, when the country’s generation will reach 60,000 MW.

[longjohnsilver1] 19/10/2020 19:09

Waiting for the next pump

[longjohnsilver1] 19/10/2020 19:09

10p coming

As longjohn said pump and dump

[apfindley] 19/10/2020 19:02

Todays bid price now dropped back to 12p.Remember, the 3.5 million quid of polo loan notes convert into shares at 11p.That's around 1/3 dilution which must come to the current share count....and no money to be received for that dilution as its already been drawn and spent over the past 4 years.Oh dear.

[apfindley] 19/10/2020 18:58

Indeed..."But I am inspired by the creatively powerful protest today, led by the coalition in which XR Youth Solidarity, XR Slough and London Mining Network played vital roles. This shows that Phulbari resistance will not die. Here on the 14th Phulbari Day, we are growing . Our struggles will continue as a connected resistance against coal mining. We will come back to London Stock Exchange until the day this company has been delisted."

[888icb] 19/10/2020 18:51

What an utterly pointless regurgitation of left wing anti coal propaganda and fake news. I doubt the Labour MP even knows where Bangladesh is and has no idea what the people of Phulbari want. Of couse they wouldn’t want jobs, resettlement grants, a thriving local economy and secure cheap power.
What nonsense is this
“Despite having no valid contract with Bangladesh, they are aggressively moving ahead with their plans."
What does that mean. GCM can’t move ahead aggressively with anything if it doesn’t have GOB approval. If it’s going nowhere why even write this stuff.
The real take away from all this need for propaganda is that they all think it will go ahead and they are still trying to stop it. They think it will be approved which is very positive.

[longjohnsilver1] 19/10/2020 18:44

No coal under Hasina mandate.

Listen to Longjohn

10p coming

[apfindley] 19/10/2020 18:30

Another quote from the letter...."Powerful resistance by women, children, indigenous men, farmers and teachers against the mining company has in the aftermath of the shooting put a decade long halt to the coal project. The Bangladesh government has declined all contracts with GCM. But the company continues its dodgy deals. GCM announced extensions to strategic partnership talks for the Phulbari coal project in Bangladesh, they extended a joint venture agreement with PowerChina and the MoU with NFC by 12 months to January 2021, and recruited a local agency called the DG Infratech Pte Ltd, a Bangladesh company to lobby with the government and to get their dodgy deal through. Despite having no valid contract with Bangladesh, they are aggressively moving ahead with their plans."

[apfindley] 19/10/2020 18:23

Quote from letter to the lse by local residents ."The 26th August marks 14th anniversary of the Phulbari killing when three young people were shot dead and more than two hundreds injured in a non-violent demonstration of 80,000 people who marched against plans by GCM in Phulbari. The day has nationally been called the Phulbari Day since. Powerful resistance in the aftermath of the shooting in Phulbari has put a decade long halt to the project. Following the killing of three young people in Asia Energy's incited violence Bangladesh government has declined to renew the company's contract to operate in Phulbari.  Despite lacking a valid contract for mining, GCM is selling shares and cheating on the UK's share market."