Global Coal Management Plc (formerly Asia Energy PLC)



Overview

GCM Resources plc (GCM) is a London-based resource exploration and development company. Its principal asset is its undeveloped coal deposit in the Phulbari region of Bangladesh, the development of which is awaiting approval from the Government of Bangladesh. It also has investments in other companies with mining interests. The company's shares are quoted on the Alternative Investment Market (AIM). (Ticker code: GCM).

The Phulbari Coal Project is a substantial, world class coal resource that will support a long life, low cost mining operation. It is the only such deposit in Bangladesh that has been subjected to a full Feasibility Study and Environmental and Social Impact Assessment prepared to international standards. In partnership with the Bangladesh Government, civil society and the community, GCM is committed to developing the Phulbari Coal Project to the highest social and environmental standards. By doing this, GCM seeks to maximise the benefits of the Project for both the Company’s shareholders and the people of Bangladesh.

The Company (GCM) under its former name, Asia Energy PLC, was incorporated in England and Wales as a public limited company on 26 September 2003. Asia Energy PLC was admitted to the Alternative Investment Market (AIM) of the London Stock Exchange on 19 April 2004. Through seed capital raising and the subsequent placement of shares, some £14 million was raised.

In November 2005, following submission to the Government of Bangladesh of the Phulbari Coal Project's Feasibility Study and Scheme of Development, the Company placed an additional 7 million shares and raised a further £33 million.

GCM actively reviews investment opportunities in order to broaden its global investment portfolio.

Coal Project facts

■ Energy security and diversity – The Project has a unique role to play in addressing the country’s electricity shortfall as its development will provide the basis for a step change in the country’s electricity generating capacity.
■Regional development – The Project will provide 17,000 jobs (direct and indirect). In addition the development of new industries using the industrial mineral co-products from the mine will create thousands of more jobs. The living conditions of all affected people will be improved and their livelihoods will be restored and in many cases improved. As a result of year round irrigation, improved water quality, improved inputs and improved farming practices it will be possible to produce three crops per year with higher yields than at present.
■Huge economic impact – Phulbari will contribute 1% to Bangladesh’s GDP each year and pay US$7.0 billion in taxes, royalties and service charges to the Government over the life of the Project. The replacement of high sulphur imported coals and other hydrocarbons will have a positive effect on balance of payments and air quality.

In partnership with the Bangladesh Government, civil society and the community, GCM is committed to developing the Phulbari Coal Project to the highest national and international social and environmental standards. By doing this, GCM seeks to maximise the benefits of the Project for both the company’s shareholders and the people of Bangladesh.

Background

Bangladesh is one of the most densely populated countries in the world with some 162 million people living in an area two thirds the size of the United Kingdom or about the size of New York State. Less than one third of its population live in cities while the majority live in rural areas relying on a predominantly subsistence lifestyle. GDP per capita is around US$1,700 (ppp) per annum compared with a world average of US$10,500. Less than half the population have access to electricity. Bangladesh is a country of enormous potential. It has the eighth largest work force in the world and is included in the “Next Eleven” countries that, after the BRICs (Brazil, Russia, India, and China), were identified by Goldman Sachs as having the potential to become the world’s largest economies in the 21st century. It has enjoyed more than 6% economic growth in real terms over the last five years as well as substantial improvements in measures of human development. For example, between 1980 and 2006 life expectancy has improved from 48 years to 63 years and literacy rates have improved from 29% to 53%.

Bangladesh is one of the most climate vulnerable countries in the world with a significant proportion of the population living in remote or ecologically fragile areas such as river islands or cyclone prone coastal areas. Two thirds of the country is less than five metres above sea level making it vulnerable to the predicted effects of climate change.

Although Bangladesh is vulnerable to the effects of climate change, it is not itself a significant emitter of carbon dioxide. Per capita carbon dioxide emissions (0.3t/capita) are substantially below other countries in the region (Pakistan 0.9t/capita, India 1.4t/capita, China 4.9t/capita) which themselves are substantially less than emissions from developed countries (UK 8.9t/capita, USA 18.9t/capita). Even with the addition of the 4,000MW of electricity capacity which Phulbari coal could support, Bangladesh would still be one of the lowest emitters of carbon dioxide in the world, substantially less per capita than its neighbouring countries.


http://www.gcmplc.com/

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when hyleo does make predictions.....and almost all down the way......many of predictions turn out to be wrong very quickly

I will mark your words...GCM will go from 110 to 300p in 3 weeks...

How ridiculous is that? Time will tell by mid - September.

He also Can't Read ...... I said ... This DID go from 110 to 300 in 3 weeks !!!!! Just look at the chart !!!! so it may not be so ridiculous.... with the Right news this could go the same way again but in time !! Yawn !!!

Phulbari Coal Project:
Ready and revving to go

The coal at the Phulbari mine remains untapped. And the debate continues as to mine or not to mine; but given the energy crisis already upon us, can
we afford to dawdle?

A PROBE Report

It is not long ago when controversy raged over the Phulbari Coal Mine. While pragmatism held that Bangladesh needed the coal, and needed it fast, there was also the emotional side of the debate which highlighted environmental aspects and other factors. It was a politically volatile time too and decisions in this regard remained "safely" in limbo. However, time has passed and now it is possible to view the matter with objectivity. With the energy crisis not just looming large, but actually upon us, it is high time that the pros and cons be weighed in realistic terms.
The four-letter word which currently features in every other discussion, dialogue and seminar in the country, is 'fuel'. Fuel is a matter of growing concern, a concern growing out of all proportions.
There is, of course, gas. At one time it was said that Bangladesh was virtually floating on gas. But now it is time to take a realistic look at the situation. With an exponential increase in the dependency on gas for industry, motorised vehicles, et al, it is clear that this total dependence cannot continue for long. The upward spiral of international prices of petroleum rules out the continued traditional use of this fuel for vehicles, putting further pressure on gas reserves. CNG has become not the alternative fuel, but the fuel where cars are concerned. In fact, with diminishing gas reserves and general uncertainty about the reserves to be tapped in future, there is need to free up Bangladesh's natural gas to be used for vehicles and such purposes.
Experts in unison will agree that there is no more time to waste in conjecture. And there are certainly not enough funds to waste on an increase in exported fuel. The country must pursue alternative energy sources; there is no two ways about it.
Given the existing natural resources of Bangladesh, coal is the obvious solution to the energy crisis. And Bangladesh has coal. It has high quality coal with less than 1% sulphur content, almost on par with coal from Newcastle. Already mining has been undertaken at Barapukuria, though for certain reasons there have been glitches in the system.
It is Asia Energy which now is all set and ready to begin mining at the Phulbari Coal mine which has deposits enough to produce 15 million tonnes of coal annually over the 35-year span of the project's life. In fact, Asia Energy is the only foreign investor that has carried out exhaustive exploration of the mine area along with environment and social impact studies. So if coal is a solution to the energy crisis, it is imperative that the mining begin with immediate effect at Phulbari. Asia Energy is all revved up and ready to go.
With the draft coal policy on he brink of being approved, there really now is no need for further delay to give a go-ahead for the mining to begin. Time is of essence. In fact, one official of Asia Energy points out, "had the project started up on schedule, then the first power station would be operating on coal by next year."
The delay in the start-up of the project was caused, to the most part, by a section of protesters who demonstrated against the open-pit method of mining. However, taking into consideration all the pros and cons, Asia Energy clearly sees that this is the best way to go about it.
Given the geological conditions at Phulbari, the coal seam thickness and depth of coal from the surface, open pit mining is deemed as the safest and most economical way of extracting coal from the mine. As opposed to the open pit method, underground mining has high safety risks which include mine flooding, spontaneous combustion, high humidity, high temperature and extensive ground subsidence with permanent land loss.
On the other hand, open pit mining ensures that 90 per cent or more of the resources can be extracted. Underground mining where the coal seam is thick may allow only 20% of the coal resources to be extracted.
Protestors argue that open pit mining will displace a large section of the population, rendering them homeless. It will pose as a threat to the flora and fauna and also cause desertification of the area. Asia Energy experts point out that nowhere in the world where open pit mining has taken place have there been instances of desertification. Additionally, the company has a long-term plan to address all these various impacts of the project, including displacement, ecological imbalance, etc.
"In the first place," an official of the company points out, "if you look carefully at the map of the Phulbari coal mine project area, you will see that it is certainly not as densely populated as most areas of Bangladesh. Secondly, neither is it a forest area thick in foliage and animal life." However, since there will certainly be displacement of the local populace and felling of forestry, to whatever extent, Asia Energy has plans for sustainable environmental management as well as responsible management for social impacts.

Environmental management

Asia Energy has extensive plans in place to manage environmental impacts such as water, soil, air, noise, waste and biodiversity. By extracting underground water, Asia Energy will ensure the supply of water for domestic, agricultural and industrial use and meet the demand of drinking water in and around the project area, including the Phulbari township.
Allaying any fears of desertification, some of the extracted water will be injected back to maintain ground water levels. Extracted and treated water will also be pumped back into rivers and other water bodies of the area, further removing the threat of aridity. The company also is committed to rehabilitate the land used in the project to its proper state for agriculture and other uses.


Social management

Displacement of local populace was a matter of great concern to the local people where the project was concerned, but Asia Energy is committed to resettle around 40,000 people, including 2300 indigenous people. They will be provided with ample rehabilitation support. The people will be relocated only after the rehabilitation arrangements are complete. Fair and full market price compensation will be provided for land, trees, crops, houses and other assets. Financial assistance will also be given for a period of time to support affected people while they attain their previous income levels. All this will be done in a very participatory manner, in consultation with the local communities, public representatives and other stakeholders. This engagement will continue throughout the project.

Benefits

The benefits of the Phulbari coal mining project are multifarious and long-term. They far outweigh any other concerns which may have risen regarding the project. As Asia Energy is committed to addressing these concerns in tangible terms, it is time to concentrate of the benefits of the project, on exploiting the opportunity to use the coal for the development the nation so sorely needs. Bluntly speaking, it is time for the tree-huggers to take a reality check.
The project will generate sizeable revenue for the government, both directly and indirectly. Over the life of the mine and based on an average coal price of US$50 per tonne, the government will earn an estimated US$ 4.43 billion in corporate taxes, royalty payments, custom duties and income tax on employees' wages. Bangladesh Railway and the Mongla Port Authority will earn about US$ 2.64 billion.
Unlike gas, coal mining in Bangladesh is not covered by any Production Sharing Contract (PSC). The companies are expected to pay corporate tax, income tax for its personnel, VAT, duties, royalties and other government service charges. Asia Energy's contract has no provision for full cost recovery. The full financial risk is taken by the investor.
The Phulbari Coal Project has a planned life of 35 years. This may be extended. Studies determine that 15 million tonnes of coal per year must be mined and sold to ensure the project remains economically viable and is able to meet the huge production costs as well as meet its environmental and social commitments.
In addition to providing a new source of energy for the country's domestic demands for several decades, Phulbari will also generate foreign exchange earnings and drastically cut down on coal import. It will also spawn the growth of support industries. As a benchmark coal mining project, Phulbari will also activate the acceleration of the overall coal mining industry of the country. With the desired upgrading to the railway and deep-water port facilities, further economic benefits are inevitable.
Importantly, about 50 % of the projects net earnings will go to the government's coffers. And as the coal policy is on the brink of approval, the government can be secure in ensuring optimum benefit for the project.

The Bangladesh Vision

The Phulbari Coal Project, in fact, has such potential that it can make significant contribution to Bangladesh's efforts in achieving the Millennium Development Goals. Poverty alleviation is one of the most significant features of MDG and this project is a milestone in economic development. And with a coal-fired power station in place, electrical power for all by 2020 will not seem so unrealistic as it does now, with only 38% of the population currently coming under the power supply net.

Revisiting the Energy-Power Scenario in Bangladesh
Posted on August 27, 2008 by phulbaricoal
Farhad Tuhin


The development of any country depends mostly on its power without which the national economy must fail to proceed. Everybody knows about the meager situation of power in Bangladesh. But the policymakers and experts are still not taking initiatives to improve this sector showing unknown reasons, which is unfortunate. However indecision, unnecessary delay in decision making process, bureaucratic tangles and fund constraints may be ascribed to the persisting energy crisis. Despite all the well-meaning intentions, it appears that for years the energy sector of the country is hamstrung by a kind of decision-making paralysis. In Bangladesh, the power is generated from natural gas (82%), oil (9%), Hydro (4%) and coal (5%).
Demand and Supply of Power. BPDB is responsible for distribution of electricity in most of the areas in Bangladesh. Dhaka Metropolitan City and its adjoining areas are under DPDC and DESCO, Khulna and surrounding Districts are under West Zone Power Distribution Company Limited (WZPDCL) and some of the rural areas of Bangladesh are under Rural Electrification Board ( REB).

The total installed capacity of power generation is 5245MW of which the achievable average generation capacity is around 3400 MW whereas the average peak demand of power is around 4200 MW. Therefore the present shortage of power is around 800MW. In the last 2 years, there was no additional power generation from any new plant. And in the last 7 years, only 80MW (Tongi power plant which is now closed due to gas unavailability) power has been added to the national grid. At present only 42.09% of the population is served with electricity and per capita electricity consumption is only 169.92 Kwh (FY -2006) where there is a goal in Power Sector Master Plan to reach the electricity for all by 2020 which is absolutely impossible considering the present condition.

Present Gas Reserve and Projected Demand
According to the estimation, the recoverable gas reserve (proven and probable) of the 23 discovered gas fields of the country is 20.63 TCF of which 7.42 TCF has been used so far leaving a recoverable gas reserve of 13.21 TCF (as of December 2007). Energy demand projection for a developing country like Bangladesh is difficult to perform. Several scenarios were used to get an understanding of the energy requirement for a level of economic performance. The natural gas requirement from 2000 to 2050 has been summarized as follows. (a) If the economic performance is on the low side (3% GDP growth rate), the total gas requirement will be between 40 and 44 Tcf. (b) If economic performance continues according to the historical trend (Business-as-usual; 4.55% GDP growth rate), gas requirement will be between 64 and 69 Tcf. (c) If performance is on the moderately high side (6% GDP growth rate), gas requirement will be between 101 and 110 Tcf. (d) If performance is on the high side (7% GDP growth rate), gas requirement will be between 141 and 152 Tcf. However, depending on low GDP rate the natural gas demand up to 2020 will be 9.9 Tcf to 17.4 Tcf. Now it is evident that the present natural gas reserve is not sufficient to meet our upcoming demand. The gas shortage has already been started all over the country. Government has already started rationing in distribution. Several power plants are not able to generate their maximum capacity because of gas shortage. Numerous industries are struggling for the production because of gas shortage.

Power Generation
At present around 82% of power generation is dependent on natural gas of which 85% (cumulative production) gas is supplied from governmental organization (Petrobangla) and 15% (cumulative production) gas is supplied from International Oil Companies (IOCs). Khulna power plant (226MW), Bhola power plant (6MW), and Khulna Power Company Ltd (KPCL) (110MW) are producing electricity (9% of total) using oil/furnace oil as fuel.

Karnafuli Hydro Power Station, the only hydropower plant in the country is located at Kaptai, Chittagong. After being commissioned in 1962, the plant could feed the national grid with 80 MW of electricity. In later years, the generation capacity was increased in two phases to a total of 230 MW (4% of total). The plant not only plays an important role in meeting the power demand of the country but is also vital as a flood management installation for the areas downstream. Around 3 billion tones of Gondwana coal has been discovered in 5 coal fields of Northwest Bangladesh. Among the 5 discovered coal fields, only Barapukuria and Phulbari have been intensively studied with significant number of drilled boreholes and estimated the resource confidently to internationally recognized standards. Resource estimation in other coal fields is inferred only with a limited number of boreholes and significant exploration activities will be required to define the resource confidently. Among these coal fields, only Barapukuria Underground Coal Mine is now extracting coal with the target of one million tones per year. A mine mouth 250MW coal-fired power plant (5% of total) has been established based on the coal. But the mine is struggling to feed the power plant with required amount of coal for various technical and geological difficulties. Huge amount (approximately 3 billion tones) of imported low quality coal (from India) is used in brick fields all over the country. A few quantity (as coal briquette) of coal is consumed both for domestic and commercial purposes (e.g., tea stall, blacksmiths traders etc).

However, the policy makers and the experts must analyze and discuss the present scenarios. The national economy will suffer unexpected stagnant situation for long periods, if the country does not take initiatives immediately to address this present uncertain and meager energy situation properly. We shall have to be realized that the continued crisis and trouble in power-energy sectors may cause disastrous situation in our industry, agriculture and other commercial sectors. The national economy will obviously become stagnant or even nonfunctional. Dr. M. Tamim, special assistant to chief advisor for the Ministry of Power, Energy and Mineral Resources said (Source: Daily New Nation 20 July 200 No more Power Plant on Gas. Therefore coal would be the only available alternative resource to overcome this power crisis. A long debate has been continuing on coal policy and coal sector development amongst the experts/policymakers. Now it is time for taking decision on proper coal exploration and utilization.

http://www.thedailystar.net/story.php?nid=52487

Energy ministry plans to place again draft coal policy before cabinet
Unb, Dhaka


The Ministry of Energy plans to place again the draft coal policy before the Cabinet Division by the end of September, clarifying all the queries that have cropped up over the mining modalities concerning the country's important natural wealth.

According to official sources, the Energy Division is now preparing responses to the queries asked by the advisers in the recent meeting of the Council of Advisers in Chittagong.

The Council of Advisers sent back the draft national coal policy to the Energy Division for more review and vetting.

Sources said most of the advisers put up questions about the rehabilitation and land reclamation provisions laid down in the draft policy, which proposed not to give back the acquired land to its original owners after completion of coal mining.

They also registered difference of opinion on royalty-fixation provision, which the draft policy made flexible for a government's high-powered committee.

Another provision of the draft policy regarding the share offloading of the coalmine-developing companies drew questions from the advisers.

They felt that the Securities and Exchange Commission should be the appropriate authority in dealing with the matter while draft policy provides a specific procedure.

The Energy Division is preparing the answers and suggestions accommodating the views of the advisers.

We're trying to respond to all the queries asked by the meeting of the Council of Advisers, Energy Secretary Mohammad Mohsin told UNB.

The immediate-past BNP-led alliance government had started the process of preparing coal policy, in view of substantial deposits of the mineral fuel in the country's northern region, the discoveries that unfolded a second boon after natural gas.

Guess you are still holding tight to GCM, smiler o...85p now...happy x'mas

I sold at 300p from 90p so yes a happy xmas ! and buying more today to make some more money something your not !!!! and to make a comment like that you must be some kind of muppet...... try doing some research first !


Aura extend African exploration alliance

10th September 2008, 11:45 WST

WA uranium explorer Aura Energy has signed a deal with London-listed GCM Resources to extend their Africa-focused exploration alliance for one year, after funds ran out.



In an announcement, Aura said the joint venture had exceeded its initial two-year budget of $800,000 in the first year, leading the companies to pour a further $600,000 into the project.



Under the deal, established between the two firms in April 2007, Aura pooled its project identification and acquisition experience with the project evaluation, financing and mining expertise of GCM to search for uranium targets in Niger and Mauritania.



The alliance had been granted three exploration licences, it said, with a further 11 applications in Mauritania and three exploration permits in Niger, but the firms wanted to explore further.



The companies will intensify and extend their search for uranium across the continent.

Go on smiler you tell him

flasher this share is not for the faint harted we are dealing with Bangladesh and of late has taken a tumble due to delays in the policy now poss September and of course the general market !! , I still remain hopefull as the coal has to come out the ground at some point, and I have bought and sold a few times over the last year and at this price well worth a top up for me : )

yep it will happen just not yet i think the new government will be in before the project gets the go ahead sold out early 2007 may buy back soon, money to be made here.

Coal industry is destroying the environment...


US scientists say Britain's new generation of coal-fired power stations would undermine climate change efforts.

The British government will lose its leadership position on climate change and risk scuppering a global deal to cut emissions if it presses ahead with a new generation of dirty coal power, say leading US scientists and environmental leaders.

The heads of three influential groups, representing more than 2 million members, have written to the foreign secretary, David Miliband, warning that the UK proposals for up to eight new coal plants threatens the chance of the US joining a post-Kyoto international agreement to be agreed in 2009.

It is the first public sign of growing international anger over the plans and will add to pressure on Miliband and the environment secretary, Hilary Benn, to oppose the government's new coal policy in cabinet. Most immediate is the decision on whether to approve the first major planning application for a new coal plant at Kingsnorth in Kent, the site of this month's Climate Camp protest.

In the UK, there has already been heavy criticism of the plans to build new coal plants, without technology to capture and bury the large volumes of carbon dioxide emitted. Lord Smith, the new head of the government's Environment Agency, recently added forcefully to condemnations by the Environmental Audit Committee, the Royal Society, City investment groups, the government's environmental advisor Jonathon Porritt, former chief scientist Professor Sir David King, and the Institute for Public Policy Research think-tank.

The letter, now revealed to the Guardian, is signed by the heads of the Sierra Club, the Union of Concerned Scientists and the Natural Resources Defense Council. It argues Britain is in a particularly important position because of "your government's historic commitment to lead on global warming in Europe and around the world."

It adds: "As proposed, these conventional coal plants lack any limits on their emissions of carbon dioxide and would drastically increase the UK's carbon dioxide emissions and make achievement of your stated pollution reduction goals extraordinarily difficult, if not impossible. Building new conventional plants and setting the UK up to fail and lose its leadership mantle will make our work in the US all the more difficult."

Tim Jones, climate policy officer for the World Development Movement anti-poverty campaign group, said the concern was shared across the developing world, especially where emerging environment campaigns are arguing for much poorer nations to cut emissions, and rich countries like the UK are being blamed for changes such as typhoons, drought and rising sea levels.

"They can adapt to one to two degrees of warming, but if it's more than that they can't adapt; they are just filled with despair," said Jones.

British officials and ministers are understood to have already been challenged over plans for unabated coal power by other governments.

The US intervention - signed by Carl Pope, the Sierra Club's executive director, Kevin Knobloch, the UCS president, and Frances G Beinecke, the NRDC director follows an unprecedented campaign against new coal power in the US which has led to 66 of a proposed 150 new plants being abandoned or rejected by politicians and the courts, and most of the remainder locked in legal battles.

But although the two main candidates for the US presidential election in November, John McCain and Barack Obama, have both declared their support for international emissions cuts, campaigners warn that any deal would also have to be approved by Congress, which would need to know there was public support for such a move, particularly during a recession.

'If the UK takes a firm stand and rejects conventional coal it will send a strong, clear message to our new President and a new Congress, as well as to other countries considering new coal plants,' the letter adds.

Replying for the British government, the energy minister at DBERR, Malcolm Wicks, said "as a 'live' planning case I cannot comment on the merits or otherwiseor on the timing of any decision".

In a Guardian interview earlier this month, Wicks widened the government's argument in favour of coal, saying that new power stations were not just essential for energy security but also to allow the development of carbon capture and storage technology. Without that technology, "all is lost on global warming", he said, because of China's reliance on the fuel. "The idea that if we showed some kind of lead and we in Britain say no to coal and China will say 'OK we will follow' is just daft," he said. Green campaigners reject the idea that CCS cannot be developed without new, unabated power stations.

A recent report by the IPPR said the European Union's goal of reducing emissions from the power sector and heavy industry through its emissions trading scheme would collapse if the go-ahead were given to seven new coal plants in the UK and up to 75 across Europe

If you want to post old news like that there is a COAL thread Thanks.. " , pejorative "

Ex-Bangladesh PM freed, says party will contest polls
13 hours ago

DHAKA (AFP) Ex-Bangladesh leader Khaleda Zia was freed after a year in prison on corruption charges Thursday and immediately said her party would contest elections to restore democracy in the emergency-ruled country.

The former prime minister, who had been detained since last September, was released on bail as part of efforts to end nearly two years of political limbo in one of the world's poorest nations.

"If there is a free and fair election, the BNP (Bangladesh Nationalist Party) will come to power with the mandate of the common people," a tearful Zia told reporters.

"The BNP is a democracy-orientated party so, for the sake of democracy, we will join in the dialogue to plan for elections."

Her release -- with graft charges still in place -- was widely seen as a deal with the army-backed government in exchange for the participation of the BNP in the polls, which will end nearly two years of emergency rule.

The BNP's involvement is seen as crucial for the success of the elections, as the army-backed government seeks to relinquish power.

Zia, 63, visited the grave of her husband, slain president Ziaur Rahman, immediately after she was released.

She then headed to the hospital where her son Tareque Rahman -- also accused of graft and bailed last week -- is being treated for injuries he says he suffered while being tortured in custody.

Thousands of supporters gathered outside the prison, the cemetery and hospital to greet Zia, dressed in a white sari.

Her son Rahman has been issued a British visa and could fly to London for treatment for a spinal injury as early as Thursday evening, lawyer Nadir Uddin Amir said.

Zia said Rahman would return to politics when he made a full recovery, which may take two or three years.

The government wants Zia to also travel abroad for medical treatment for her arthritic knee, but she does not want to leave Bangladesh.

She faces charges in four cases of corruption and misuse of power dating back to her two stints as premier from 1991-1996 and 2001-2006, including in the awarding of state contracts. No trial dates have been set.

Although the government wants Bangladesh's major parties to take part in the polls, observers say it hopes to prevent Zia from returning to office.

"They will involve Zia and the BNP in the election agenda but there is still the veiled threat that she and her sons are on bail. It's not explicit but it's still there," Dhaka University politics professor Ataur Rahman said.

Zia and her arch-rival, fellow ex-premier Sheikh Hasina Wajed of the Awami League party are both blamed for rampant corruption and Bangladesh's political meltdown that prompted the declaration of a state of emergency in January 2007.

That crisis saw the Awami League accuse the BNP of trying to rig elections, and weeks of strikes and violent protests brought the country to a standstill, prompting the army's intervention.

Since then, the emergency government has tried clean up Bangladesh's notoriously dysfunctional political system, including creating a new voter list, eliminating 12.7 million fake voters.

Sheikh Hasina was freed by the government in June and is in the United States in what is seen as a form of exile.

Bangladesh is so corrupted that GCM is going to bury in it.

I did get SOME MORE ajcc at 87 so in profit already ; )

72p and more downtrend to go for GCM.

As 90% of stocks at the moment ! pejorative