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This is more like it at 17:35 pm on tuesday evening 😊
Closed at 8.13p despite a placing at 6.5p with just under 9M traded of which very likely over 8M were buys (probably more) or thereabouts.
Firstly it shows massive confidence after a placing and secondly it reassures us that from all the provided verifiable information that things are coming together now more so than ever before.
Ripley, did you miss the boat?
What you on about ripley?
Not the news the rampers wanted , the derampers correct as of today.
Typical AIM share .
I never give thoughts usually just post trades.
Placing 6.5p
GCM Resources raises GBP2.0 million via direct subscription
(Alliance News) - GCM Resources PLC on Tuesday said that it has raised GBP2.0 million via a subscription of 30.8 million shares at 6.5 pence each.
GCM is a mining company focused on the Phulbari coal and power project in Bangladesh.
The subscription price represents a discount of 25% to the closing price of 8.63p for GCM's shares on Monday. The issue will represent 11% of the company's enlarged issued share capital.
According to GCM, the net proceeds will be used for working capital purposes, in order to progress the Phulbari coal and power project through the next 16 months.
"I am delighted with the support from the London Market, which comes at a time when we are increasingly more confident that the Government of Bangladesh is receptive to the advantages of domestic energy production; our focus and main effort now is to secure the consent to develop the Phulbari Coal and Power Project, which we are well placed to develop alongside our global energy infrastructure partners, Power China," said Chief Executive Officer Michael Tang.
GCM shares were trading 11% lower at 7.65 pence each in London on Tuesday afternoon. The firm has a market cap of GBP18.8 million.
By Holly Beveridge, Alliance News reporter
It’s all in the RNS’s John.
Any idea what the share price is likely to be on approval? what percentage do we have of the project given the considerable capital injection by the chinese?
Typo - truly remarkable.
Agreed Searcher - an excellent day indeed.
Closed at 8.13p despite a placing at 6.5p with just under 9M traded of which very likely over 8M were buys or thereabouts.
Firstly it shows massive confidence after a placing and secondly it reassures us that from all the provided verifiable information that things are coming together now more so than ever before.
I am very relaxed with my investment here and will be looking to buy more before Friday for sure.
Thank you everyone who has contributed to keeping us all well informed especially the longer term holders from the years before. Hope this comes good for you guys especially who have held for this amount of time is truly unremarkable.
Looking forward to tomorrow already.
Have a pleasant evening all.
And then again it may not and EVERYONE (not holding) try desperately to BUY as price start to push to triple digit territory!!
Rather be Holding with all indication for excellent outlook! 🦉
Openheimer, thoughts on your prediction earlier
‘A load of tosh. Watch this get sold down by close. There no chance’.
Very positive day all considered. I remain quietly confident but no point getting overly excited until we see it in black and white. Hopefully not but the meeting may come and go without any news for us… (again I hope I’m wrong)
With buying right up to the close and over 9 million traded!!
Not really much more to be said to be honest, other than what a great recovery from the placing price given this morning!!
I think all our positive opinions over the last few weeks can now be justified!
Bring on some great press tonight, but either way, even if nothing is said tonight, bring on tomorrow!!
GL all 😉
Well after having a very quick scan it looks like most of the press are back to work, after having all their holidays, SO hopefully we will see some positive articles as we lead up to the weekend..
And then with the 1st Energy Ministry meeting being held on Sunday of the newly elected government, I certainly would not want to be not holding GCM, over this weekend in particular -:)
Only 3 trading days left until the Energy & Power meeting.
What can be higher on their agenda than own coal v continue to import unaffordable coal. ?
😂
Spot on Searcher. All the uncertainties have been removed for the foreseeable future giving BoD full focus to the final push over the line.
This is the reason why over and over again over the last few weeks we have been saying that the fundraising was not an issue!
So pleased now to have it out of the way though, and after having over 8.6 million traded today, i think that we can say with confidence that this is NOT just Pi's buying ... imho
I can understand prior to today if folk were holding back on buying in case a placing was coming and they can get in cheaper.
Hey! but a placing has been done at 6.5p and it's now at 8.25p to buy.
Get buying folks, this price ain't gonna be here tomorrow and definitely not Friday closing.
Looking quite likely
Just bought, something cooking here.
I'm sure that 8.25 has got to give way soon :)
This buying is relentless ... 8.48 Million traded
Tomorrow back to 10p!
You familiar with his LUMPS Mr Searcher Lol!
Think you & others very RIGHT - Some party(ies) is ACCUMULATING in big way!
🦉
Do we think that GCM will get the chance to mine Phulbari after the GL is given?
We’ll be made an offer for the company.
The buyer is relentlessly purchasing the overhang.
It’s obvious to me.
I would also suggest that the lumps of 50k buys are probably his as well YKIR??
RNS?
Post are not 7am BUT think most understand will not drop to placing price, Funding uncertainty remove AND move to major Energy Meeting few days and VERY strong Buying support!
🦉
The 100k buyer is back in filling his boots!
Big things coming for GCM.