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AGM it’s a Old stories that’s all.
28 Nov we get news on the MOU extension
20 Dec - RNS £300k drawdown request
But as we all know that changed and on
26 Jan we told GCM have now raised 500k
24 Jan were told CTW is leaving
02 Feb RNS - CTW Has resigned and GCM are now seeking to replace this role along with two new NED'S
ALSO not to forget a AGM is taking place end of this month.
VERY INTERESTING. !!!!!
You would have to assume who ever stumped up 500k knew Christian was resigning and was still happy to invest , wonder if they bought in for a position on the board Not long till we find out .good luck to all holders one way or the other this is the end game
Showmethemoney yes bud
I wonder if the two new NED's and one NEC are already lined up
So I’ve sounded £100 for IG to represent me and now the only really resolution I wanted voting against has now been removed?
Agreed. He could’ve gone a few weeks ago given he wrote the last update and essentially his own obituary.
Something is definitely going on, he walked before he was pushed, why?
We, as holders knew he was going with the last update and I personally don’t think it’s the end because of it. It may well be the beginning, remember an NED job is ‘considered independent of management and free from any business or other relationship which could materially interfere with the exercise of their independent judgement’.
What if he was proving an unwanted distraction, we know Bangla is a notoriously corrupt country, the latest update was very thorough - maybe too thorough (if you catch my drift).
We, as investors care about approval being given the go ahead this quarter and no matter how well he did his job once the BOD decided they wanted him out, nothing would’ve progressed until he’s gone…that’s just how these things play out, him leaving early may be a blessing for us (proposal put forward sooner than expected…ie the next few weeks).
Time will tell but i’m holding (likely adding) because this is too good not too, a hundred billion pound asset with a clear timescale on approval which will likely see us all retire or losing what we have (had money in here long enough and survived so whatever) and a lot of others losing a lot more than us.
GLA
He jumped before he was pushed, maybe paid off or given some shares….
----Maybe it was just a prediction of how the numbers would have stacked up, that have forced his departure.
28th Feb he leaves.... so we have time..................
"The London-based mining and energy company said it has started the process of appointing a new chair, as Taylor-Wilkinson's resignation will take effect on February 28.
Last week Wednesday, GCM Resources said that its largest shareholder, Polo Investments Ltd, which holds a stake of just under 21%, requested that Taylor-Wilkinson be removed from GCM Resources's board."
The Board Recommendation was for him to be removed. So he's resigned.
Will the Nomad also resign? Or will they await the conclusion of the 'process'?
'The Company is currently in the process of seeking to recruit two new Independent Non-Executive Directors ("NEDs"), including a Non-Executive Chairman.'
My word... .the DRAMA.... grab some pop corn guys this GCM movie has more plot twists than Traitors Tv show !
Lets hope we get 2 new NEDs asap.
What is their "Satisfaction"? and how long is "short term" ............ how long have we got ????????
"WH Ireland, the Company's Nominated Adviser ("Nomad"), advised that if such a circumstance occurs the Company would therefore have to add a number of independent non-executive directors to the board in the short term. If such additions to the board are not made to WH Ireland's satisfaction , it is highly likely that the WH Ireland would tender its resignation with immediate effect."
Bullied out. shame as he was probably on our side
GCM Resources plc (LON:GCM), an AIM quoted mining and energy company, announces that as a result of the resolution received from Polo resources seeking to remove him as a director, Christian Taylor-Wilkinson has reluctantly tendered his resignation from his position as Independent Non-Executive Chairman. The Board would like to take this opportunity to thank Christian for his services during the period from May 2020 to date, and to wish him success in the future. Christian's resignation will take effect from 28 February 2024. The Company is currently in the process of seeking to recruit two new Independent Non-Executive Directors ("NEDs"), including a Non-Executive Chairman.
The way I see it I will be voting for the pr-exemption rights , I think they are used to raise money if the company needs it in an emergency, like the 500k we have just raised ,
Also don’t forget to vote FOR the re-election of Gary Lye , if it is tangs goal to get the company delisted like polo it’s possible he will use his votes to block Gary Lye from being re-elected which would be disastrous for GCM ,
Just received my form in the post.
I want to be crystal clear before posting it back.
Res 1 - C T-W removal - vote AGAINST
Res 2 - Allot securities - vote FOR
Res 3 - Pre-emption rights - vote AGAINST
This is my feeling. I would welcome opinions either way. I feel this is a key decision and I want to be certain before submission.
Thanks
Santiago. Who gives a rats ar5e
Its a public discussion board for people who buy and sell stock. Its not the secret service
If you pay attention to anything anyone posts on here to make your own investments then you should think about using your money for lottery tickets !
FYI - Searcher is a very very decent bloke. Appears to have invested in GCM, and only posts facts from news items.
Also seems to treat his women folk well and takes them on holidays !
Its on the contact page of Altona Rare Earth PLC
https://www.altonare.com/contact/
Searcher has always provided useful information relating to coal and any othèr related issues regarding Bangladesh. I have always taken an interest iñ his posts / links.
Have you got a number for him?
Interesting on the voting form the Board Recommends voting 'FOR' the removal of CTW. What is going on there?
Would you be honest an answer?
What’s your role here?
Anyone tried to call CTW to see what his take is on it all??
Some of the long term holders on here will remember when Hasina made the fatal comment.
"Coal will be left underground for future generations"
Well, a generation has passed now and it is needed more than ever.
I’m not an investor here except through my holding in Polo
I don’t suppose that Tang would try and relist Polo?
I can’t find any Polo results anywhere
Does a shareholder have a right to be informed of results in a Thai company?
This has caused an even deeper austerity move with the central bank imposing certain restrictions on imports, which also caused disruption to imported coal supply, impacting power supply from recently commissioned large-scale coal-fired power plants.......
Our Dhaka team maintains contact with government agencies and has seen evidence that the forementioned momentum towards developing the country's known domestic coal resources and increasing exploration to identify new gas fields is waxing. The downturn in key economic indicators has seemingly been an awakening and it is most fortunate that the country has such a world class energy resource as the Phulbari coal deposit..........
Throughout the reporting period and beyond, the Company's Dhaka-based team has maintained contact with the relevant government agencies and there is credible evidence that the "new plans" cited by the Honourable Prime Minister are being framed and that such plans are addressing domestic coal extraction and exploration efforts for new gas. This is exciting news for the Company, the Project and its Shareholders..........
The Company engages positively with local communities, regulatory authorities and stakeholders in its project locations and encourages feedback through this engagement............
GCM remains confident its Strategy and Business Model will deliver project approval and enable the Project to: reduce the Country's exposure to the volatile energy market; deliver a long-term positive impact on Foreign Exchange Reserves; deliver the lowest coal-based energy price and cheapest electricity, enabling expansion and competitiveness of industries; produce new higher paying jobs; and grow the economy............
GCM's Dhaka-based team continued to work with contacts within the government agencies to ensure the Company is in the very best position to engage with the new government once it is in place and fully functional within the 1st Quarter 2024. This communication is two-way and an overview of what would be expected in the Project Proposal has been shared............
The Project area can also support over 2,000MW of installed Solar Power Capacity throughout the life of the Project and this is an adjunct to the Proposal. It is aimed to supply power from the Solar Power Park to both the national grid and the Phulbari coal mining operation, enabling the mine to attain carbon emission neutrality and "Green Mine" status.........
During this last Financial Year, our team continued to work closely with development partner, Power Construction Corporation of China, Ltd. ("PowerChina"). They are a diverse and extremely experienced organisation with the capabilities to support all aspects of the Project. Apart from an MOU focused on coal mine development and Joint Venture Agreements for power plants of 4,000MW (two 2,000MW Stages), as indicated below, PowerChina has also shown interest in the proposed Phulbari mine site Solar Power Park........