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denarii

GCM Resources (ex Asia Energy)

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if you have hung on you must be well up now! newsflow is strong from bungladesh

 

Yep, still in.

 

Topped up at 108 and 120 as well.

 

More than doubled initial investment.

 

Looks like today could be lift-off.

 

Thanks for the heads up.

 

I owe you for this one.

 

 

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buy some aau then

Great tip on GCM denarii. The folks on iii are having a whale of time :)

 

A few stocks out there with the aau ticker symbol.

Are you refering to Ariana Resources plc?

 

Cheers

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buy some aau then

 

Why AAU?

 

I picked up a few Polo - Dattells is up to something with Extract as well as the value of their GCM holding and the listing on Toronto - could see a rise there, I think.

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yes AAU, its been overlooked IMO, there are a few other issues but by en large i am happy to continue holding and see great upside potential in the existing red rabbit project and the new exploration. sign off of the jv seems to be taking its time but there is no reason it wont go through and if it doesnt it just means AAU is more of a take over target, there is an Ariana Resources thread on the precious metals board. If in the exploration Kerim hits something large - and there is a 10moz plus deposit in the area as well as the largest silver mine in Europe, then the current share price will look quite silly.

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could be a blue day tomorrow!

 

 

 

http://www.bdnews24.com/details.php?id=165225&cid=2

 

 

Govt MPs argue on coal mining

 

Tue, Jun 22nd, 2010 12:35 am BdST Dial 2000 from your GP mobile for latest news

 

 

 

Dhaka, Jun 21 (bdnews24.com) — Rashed Khan Menon a significant ally of the ruling government spoke out against open-pit coal mine opposing a number of other government MPs in parliament on Monday.

 

The Workers' Party chief harshly criticised the government decision to opt for open-pit coal mining process in Barapukuria and Phulbari.

 

Menon said it's not rational to start the open-pit mining while the country does not even have a national coal policy.

 

"Forces against the national interests remain active. Asia Energy (a UK-based mining company) is also influential," he said.

 

Several Awami League members of parliament, however, vociferously differed with Menon and advocated for open-pit mining.

 

The parliamentary session on Monday started at about 4pm, presided over by panel chairman Fazle Rabbi Mia as both the speaker and the deputy speaker were absent.

 

Reza Ali, AL MP from the Mymensingh-7 constituency and Anisul Islam Mandal, Rangpur-2 MP spoke in favor of open-pit mining for the two largest mining zones of the country.

 

Rajshahi-3 Awami League MP Meraz Uddin Molla accused that 'some leaders' of the Grand Alliance do not want coal be quarried to 'serve their own interests'.

 

bdnews24.com/sum/saa/adk/2310h

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one or two more decent days and the hedge funds might work out what is goingon and send it into orbit. the laxey bid for polo will no doubt generate some interest next week at a minimum.

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from advfn today

 

wiseacre - 16 Aug'10 - 20:09 - 18708 of 18713

 

 

Morning meeting notes at Canaccord last Friday may be of interest

 

 

 

 

 

Subject: CANACCORD GENUITY MINING DAILY: Bangladesh, Vedanta, Petropavlovsk

 

13TH August 2010

 

Disclaimer: This document constitutes specialist sales commentary and does not constitute a research report and is prepared by Canaccord Genuity’ Institutional Sales for informational purposes only.

 

Good Morning

Hot into my inbox this morning is a heads up from a contact that spends a large amount of time monitoring the Bangladeshi press. I presume he is either interested in cricket, curry or coal. In this case, it is coal. He has picked up some hot news from Dhaka that the Bangladeshi Finance Minister Abul Maal Abdul Muhith has stated that the government will go for coal to resolve the energy crisis in the country. This National Coal Policy would be finalised during the current fiscal year.

A quick search of the internet shows that these sorts of announcements from senior officials are not uncommon, but that the frequency is increasing. Maybe, just maybe the National Coal Policy will become a reality. There are five coal fields in the country with around 2.55bn tonnes of reserve, all unable to be extracted until the policy has been finalised. According to Thomson Reuters, 80% of electricity is produced from natural gas but the country has a 2,000MW shortage of power per day rising to 8,000MW next year. Only 45% of the population have access to power.

Of interest to me is an announcement over the Phulbari coal project owned by GCM Resources. On a recent road show with Neil Herbert of Polo Resources who own just shy of 30% of GCM, he felt an announcement was coming, but probably after Ramadan was over.

Clearly, the Phulbari project has not been without controversy. Villagers will have to be moved on, rioting has occurred in the past and shots were fired back in 2006 with five people being killed. While this is clearly unfortunate I understand that similar scale protests also occur in the country over power shortages so I think we need to get these things into perspective.

While we don’t formally cover GCM, clearly a resolution to the coal policy and a go-ahead for Phulbari would have a dramatic effect on both the share prices of GCM and Polo Resources.

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