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Threat of fundraise? Is it the end of May already? Lol
We have funds for another 3 months, at which point approval will have been given and the SP will be at least 10x higher. CEO doesn’t want to dilute himself anymore than necessary given he owns a large portion of shares.
Buy the dips as 8p is cheap with transformational news around the corner, some of us LTH’s have a higher average and have been waiting for this moment for years! GL
The Barapukuria power plant, which meets 64% of the Rangpur division's 409MW daily electricity demand, is solely dependent on the coal supplied from Barapukuria mine.
The Barapukuria coal supply finishes 2027.
Currently, the plant requires around 3,000-3,500 tonnes of coal per day to generate approximately 260MW of electricity. If supply from the Barapukria mine stops after 2027, the authority will have to import around 1.2 million tonnes of coal per year to feed the power plant, plant officials said.
When contacted, Zanendra Nath Sarker, chairman of Bangladesh Oil, Gas and Mineral Resources Corporation (Petrobangla), the owning company of the coal mine, expressed concern and stated that Petrobangla is exploring options to ensure continuous coal production.
"We have two coal mines near the existing one – Phulbari and Dighipara coalfields in Nawabganj -- as options in our planning. We can proceed with one of these if we get approval from the highest level, though these mines are at very preliminary stages," he said.
Barapukuria power plant is in need of GCM’s approval given their own mine will be out of coal soon, they don’t want to pay more for lesser quality coal. I imagine they’re also putting pressure on the Bangla govt. They’ve already made an approach to buy our coal so makes sense.
Lots of moving parts and all of them in our favour. Genuinely believe it’s our time boys.
A further reminder:
https://www.power-technology.com/marketdata/power-plant-profile-phulbari-coal-fired-power-plant-ii-bangladesh/
A lot of what our big buyers been adding has been appearing there instead of here under trades, take the 15.10 trade, that’s definitely another one of his buys as is the delayed trade from yesterday.
Https://www.lse.co.uk/ShareTrades.html?shareprice=GCM.GB.PL&share=Gcm-Resources-Plc
Yours probably here - been a lot of trades on here last few days too. Yesterday was big volume and whoever did the math earlier hadn’t included them, so even less available to buy.
Don’t bother with him YNIR - i exposed his lies yesterday and it didn’t deter him from posting the same crap over and over.
He’ll get desperate over the next week or so knowing once approval arrives, we’ll be in the clouds and he’ll be looking back at his 2.10p sell and start head butting walls.
Here’s one for you boys:
EarlofAim
Posted in: GCM
Posts: 12,083
Price: 3.45
No Opinion
My average29 Feb 2024 16:04
I have 2.10p average
- Poor earl, had a good entry only to let it go cheaply and got caught napping. What a LOSER. Lol
James, we have a Nomad.
We are awaiting appointment of a Non Executive Director (NED).
‘GCM Resources plc (LON:GCM), an AIM quoted mining and energy company, announces that further to the recent resignation of its non-executive Chairman, it has identified candidates for a replacement Non-executive Chair and a further non-executive director.
The Company and its nominated adviser are conducting due diligence checks and it is hoped the Company can announce the replacements once these checks are concluded.’
This is the only contentious issue currently affecting share price imo and once confirmed brakes will come off. We know from the RNS dated 28/02/24 one has been found, hopefully we get confirmation of appointment tomorrow.
I like this discourse James.
Do you agree with these statements.
Adam/wise
GCM has MASSIVE upside if everything falls into place. - YES, and a lot of it is already in place.
Tang is a highly suspicious character given his absolute disregard to polo share holders (took Polo private and has not uttered a word since). - YES, i wouldn’t want to be a Polo holder and would share the same feelings towards him, however if this comes off there’s every chance you guys have the funds to maintain a listing and find a suitable Nomad (no news is sometimes good news, we’ve had our fair share of lulls in news flow here). I know it’s not nice hearing it but maintaining multiple LSE listings is expensive and Polo was used as a pawn piece for the real prize in GCM, there’s a reason Polo was registered in the British Virgin Islands and GCM is a London listed company.
A potential reason Tang has kept this on the stock exchange is to raise funds as and when he as needed the cash. UNLIKELY - raise funds for what exactly? His wage? He hasn’t taken a wage in over 3 years and has invested via Polo a significant amount of money. Searcher pointed out Gary said funding isn’t an issue going forward as they have people lined up already if needs be.
Tang could take this private when he wants. - If you’re referring to intentionally setting us up for a fall I DISAGREE - he could’ve done this a number of ways (not submit year end accounts for example - instead providing the best update we’ve ever had) over a number of years, we have a clear timeline…project proposals to go across Q1 2024 that’s weeks away if they’re not already on Hasina desk already (I believe todays rns re funds available by PC was a prerequisite of gaining approval).
China buys the licences off GCM - AGREE - If this happens, it happens after approval when every chance the SP is in triple figures (which would still only value us at around 350m - we have a hundred billion $ asset, so expect the offer to be multiples of the triple digit SP).
Fair?
Art i started to write out a reply for you but there’s so much to say. Read through the RNS dated 29/01/24 final results and you will find a lot, if not all of your answers there. It was the best and most thorough update we’ve been given in the history of the company.
Hi Jamesss. Good to see you my old friend.
GCM and Polo are night and day.
Rule number 1 - never invest in a company that’s not registered in the UK (GCM is and Polo isn’t).
I’ll tell you more rules if you agree to adhere to rule number 1. Lol
Anyway you made 100k on here Friday, why the long face?
Also GCM getting approval might work out well for Polo shareholders so don’t go too hard on us.