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They have said they need more funds by the end of April. Another company I have been following were in the same situation and they have done their placing today after a rise in the share price. It might be a good time for GCM to get theirs done and out of the way. What would be a good price? 3p, 3.5p - maybe last Thursday's price of 4p at a PUSH.

AJMHO

This 'unsolicited approach' business happened at UPL a few months ago. They, though, did not need to do a placing.

They issued a 'Termination of offer period' RNS quite quickly in which they said: "Further to the Company's announcements of 23 October 2023, the Board of Upland provides an update concerning the unsolicited, very preliminary approach it received regarding a possible offer for Upland (the "Approach") and which the board unequivocally rejected.

The Board of Upland now advises that it has received information that has cast significant doubt on the veracity of the Approach and identity of the potential offeror."

The difference here is that the unsolicited approach was from according to RENX 'a large and well-capitalised publicly listed strategic diagnostics company, which is in the process of evaluating an acquisition of the entire issued, and to be issued, share capital of the Company.'

It will be interesting to see whether the management here refute the unsolicited approach and admit that they sort of imagined it and terminate the offer period or whether there is in fact any truth in it and it remains an option.

Who saw this coming??

Highlights

· The Placing involves a placing of new ordinary shares of £0.0025 each in the capital of the Company (the "Ordinary Shares") at 20 pence per Ordinary Share (the "Placing Price") to raise approximately US$10 million (c.£7.8 million).

Genuine question for any LTH's please:

What is the difference this time from the previous times that this coal-to-power project has been in the news and was expected to be given the go-ahead? I remember this share from many years ago - particularly from about 8 years ago and probably even earlier - but every time the project has come up for approval it has just been fobbed off and the Government have never got even close to signing this off.

Why are posters so sure that this is going to get approved this time and not just get ignored and put on the back burner like every previous attempt?

Cheers in advance.

What's a LTH here anyway? Someone who bought in a couple of weeks ago at about 2p?? Personally after all the shenanigans of Friday and today, I will be very happy if this drops back down over the next few days and gives an entry around 4p.

They were 4p on Friday before the leak and the price has fallen back by 4p today from 12p to 8p so it could quite easily fall back to around 4p over the next few days at which price I will be more than happy to 'top up'.

Maybe they will be at around 4p again in a few days time!!!

If we could just go back a couple of days to when the share price was about 4p and then there was no 50% leak on Friday and the MM's didn't open the trading at 11.75p this morning then it would be a nice orderly market with the share price rising slowly through 4p to 5p and then 6p and so on and everyone would be in profit and so happy. Instead, this is just another bloody mess that takes the edge of what was a really good RNS but then nobody cares much what the RNS says if the share price is going to keep dropping all day as this has done.

I agree, that is a superb RNS. I see that GCM is now back at the top of the leaderboard, right where it belongs.

It is the same company - Power China - that is involved in both projects.

I agree, though, that the main stumbling block is the 'green' CEO but even she might be forced to change her stance or risk losing her job and any value to her large holding in ORCP shares.

Super RNS but it has just been mismanaged. Firstly this was clearly leaked last Friday when the SP rose by over 50% and then today the stupid MM's opened it right up at nearly 12p which was obviously too much of a jump-up even for this excellent news. It is quite possible this might re-rate over the next few days in a similar way to PHE which 3 bagged over a 5-day period after news that was less positive than the news here.

I see that GCM are finally making some progress with their coal-to-power project in Bangladesh. The 2 projects - ORCP and GCM - are pretty much the same so maybe this one will come back to life too. Imagine that. This would be an easy 10 or 20 bagger.

Jennings holds a lot of shares anyway, on top of the 100 million warrants they have just exercised. According to the holdings RNS of 6th March they have a Long Spreadbet for 16 million shares and they also hold 56.65 million in ordinary shares.

I'm not sure why I have posted this and what my ulterior motive might be if indeed I have one. Maybe it was just a fact of interest.

Don't patronise me. I repeat: why would I bother posting here if I didn't hold any shares here.

And nobody is arguing about the warrants. They were issued historically. They have been exercised. That is £210,000 net to Corcel. Excellent.

The only issue is why EXT should choose to get involved in the process and take out an option to buy these shares from Jennings. And even that isn't an issue unless they make a special point of unnecessarily mentioning that they are going to buy them for a bumped-up price and actually quote the price. It would have been enough for EXT to buy them at an undisclosed price.

I am also dubious of the figure of 12,500 bopd that was issued once as the previous peak flow rate of the TO-04 well which was the old production well on the site of the current TO-14 drill. It didn't seem to make any sense as the total peak production was only 17,500 bopd for the whole field and that was spread over a lot of wells (figures of 7 wells or 9 or 12 spring to mind though I have not been able to find a correct figure despite reading through a lot of RNS's).

17,500 bopd spread over 7 or 9 wells in only an average flow rate of around 2000 bopd and far, far short of 12,500 bopd. Maybe that figure was a mistake and it should have read 2,500 bopd.

Yes and I was being lured in by Mr Know-it-all - Edgein - and his lackeys on here to the point where I was beginning to think that maybe this well was going to flow at anything from 12,500 to 20,000 bopd and the share price was going to shoot up to 3p, 5p even 10p - who knows - but after that recent article, when typical flow rates of 2,500/3,000 bopd were mentioned, I have now come back down to earth with my expectation. With CRCL only holding an 18% working interest those sorts of flow rates will not equate to huge sums.

Not to worry though as the super-loaded Executive Chairman and his Italian mate will bump up the share price if it looks like falling short of shareholder's expectations. We are obviously in good hands.

I have not missed the point. The point is that Corcel has received £210,000 for issuing 100 million new shares. Whatever happens to those shares after they have been issued is of no concern to CRCL or to the existing shareholders.

I should have added 'As this announcement is by a company half-owned by the Executive Chairman who already owns nearly 25% of the existing shares of CRCL then this is not only insider trading but downright illegal.

The very fact that EXT has publically announced the figure that they are going to pay Jennings for these shares is in itself an attempt to influence/bump-up the share price. As this announcement is by a company half-owned by the Executive Chairman then this is not only insider trading but downright illegal. Shame on them!!