Asia Energy - Coal and Power for Bangladesh

Two points of note

1.
Analysts were saying in Oct 2004 at 4 X the 75p placing price the following , ie 300p was not sustainable ..... Funny is it not that this is my lower end call for now.

2.
A larger partner will be needed, and the $530m has already grown to $570 as AEN has had to resort to 15% dilution to raise 10% of what it needs (which is still way short in my view).
I reckon AEN tried and have been trying to find such a partner without success. Remember it was BHP Billiton who sold it the coal project to them in the first place....ask youselves why did they sell ? and what other company is going to cough up Billions of dollars to provide Bangladesh with cheap electricity ?


''Analysts suggest, however, that the rally could be unsustainable and the current price does not reflect the risks. The company will need to raise large amounts of debt and equity - $530m at the last count - to bring the Phulbari project into production and this could require a deal with a larger partner.''