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Not sure if posted already but the article from March 16th is another insight into the role of the Belt and Road Initiative, under which the Phulbari coal2power poject is being brought:

http://www.china.org.cn/opinion/2019-03/16/content_74575743.htm

[...]

"Bangladesh is determined and has made significant strides towards becoming a Middle Income Country (MIC) by 2021 to mark the 50th anniversary of its independence. However, to reach this goal, the South Asian nation has to raise and maintain its gross domestic product (GDP) growth rate to 7.5-8 percent every year (up from the current 7 percent). The BRI is a timely and essential tool for Bangladesh to achieve that."

"Economists are of the view that to ensure the optimum rate of its GDP growth, Bangladesh must bring in more investment, boost exports and increase remittance inflows, which are major driving forces of its current economy. The BRI has a lot to contribute in these three areas."

"To increase its investment to the optimum level, Bangladesh must improve its infrastructure, which incidentally is also one of the major components of the BRI. When it comes to boosting exports, the same holds true, bearing in mind that without adequate infrastructure it is impossible to diversify exports and explore new markets for them. In this regard, the BRI is a blessing for Bangladesh as it requires more than US$24 billion in infrastructure spending every year to become an MIC."

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Zib, it's systemic issue, although clearly the f*ckers at LCF need to be brought to justice. It's systemic because the Government never wanted the FCA to have any real teeth. They were not set up to make a difference. Most PIs wouldn't ordinarily give a ****, but a resutling toothless FCA, with weak controls, legislation and political will, has come to bite so many of us in the ass.

jessell, AIM is a Casino to be honest - but I should stress that it's not to absolve PREM of blame or its responsibilities. It's been extremely difficult here, for a lot of people. Have made that clear to them in the past.

As said already, we are turning the corner and believe we haven't got long to go but totally accept too that until we see the money, can understand folks' hesitations

ToeDipper, these JV agreements with CGCC and Power China, and soon to be large mining partner, are material news. Just look over to NCCL and you will see how material it is in the eyes the market there and all the current holders.

Full value is only realised once all the pieces are in pace. With NCCL, they have all the government approvals pre-JDA (Binding Jointt Development Agreement). They now await that JDA.

GCM is doing it the other way (sort of). They have made material progress with partners. They just await the government decision. The criical thing though with those partners they are signficant and are coming under the Belt and Road Initiative. That programme has a life and influence of its own and will be difficult to see how GoB can turn it down. And they won't. They can't afford to. This the Chinese State talking directly to the Government of Bangladesh -- the Chinese already being massive investors in Bangladesh and Phulbari shaping up to be a monster project the Chinese will want to see happen now they are involved in a BIG way.

Good luck all!

Also in another Coal2Power Project, NCCL (my largest holding). We can see by that example what the large genuinely influential partners will do. There they have General Eelectric (GE) and China Machinery Engineering Corporation (CMEC). The combination has enabled them to compel the Mozambican government (and its respective sector agencies) to give complete support. NCCL are now working with GE and CMEC towards binding JDA, which is within touching distance. My experiences over there is what's brought me back over here, seeing GCM build the right partenrships, under the Belt and Road initiative. In all those previous years, GCM were a minnow, with no hope of persuading anyone (now when I think about it). GCM were being dismissed. GoB had no reason to take any notice of them.

This is now different. They have Chinese powerhouses behind them, the entire weight of the Chinese state through One Belt, One Road Programme. GoB now have little choice but to allow Phulbari to happen.

As I said, two bits of news on the near horizon;

1. Large Miner coming on board

2. Submission to Government

Good luck all.

The programme to develop Phulbari project is going to be brought under China's Belt and Road Initiative. This will bring massive political clout and not just the capital and expertise to realise the project.

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From the 15th March PowerChina JV Update:

- POWERCHINA shall be responsible for conducting a Feasibility Study and facilitate the inclusion of the Project as a One Belt, One Road Initiative of the People's Republic of China [...]

https://www.investegate.co.uk/gcm-resources-plc--gcm-/rns/second-joint-venture-with-powerchina/201903150745049957S/

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And this from an article (March 31) about products relating to Sinopec (another monster of a Chinese Corporation):

"The minister joined the guests hailing the entry of famous Chinese brand into Bangladesh. "Chinese, they are one of our biggest development partners. We have warm friendship with China. And Belt and Road (Initiative) is a privilege for Bangladesh and neighboring countries."

[The minister being Bangladeshi Minister of Industries Nurul Majid Mahmud Humayun]

http://www.xinhuanet.com/english/2019-03/31/c_137938682.htm

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As others have continued to say, the signficance of the Chinese in this cannot be overstated. The pressure on GoB now is significant as the Phulbari comes under the Belt and Road programme, meaning that it's not simply GCM speaking to GoB, but the Chinese state and billions in possible capital and ongoing relations with the China. The comments of the Industries minister (as per the article above) are valuable insight into this.

And now we also have a large miner coming on board, discussions at advanced stages. Again, as others have said, very likely now that this is a Chinese giant, again coming under the Belt and Road Initiative.

GCM, I believe, have cracked the code here.

Good luck all!

Some great posts today, thanks guys!!

20p SP equates to a market cap of £57million. Just too low a market I'm my view. 25p is my lowest expectation but comment about our 40% post JDA being worth 50p NPV all in, points to a valuation in £100 million range.

Binding JDA will of course make valuing NCCL much easier. All in the specifics!

Trying to increase my holding here but strongly with exit points elsewhere.

Some great posts over the last couple of days.

There are now two bits of meaningful news on the very near horizon; a);submission to Government, and b) news of large miner coming board.

GCM have informed this is part of the China Belt and Road initiative, carrying with it not just capital but significant political weight and influence. Looks as if GCM are now doing exactly the right thing, taking advantage of conditions, bringing on board the right external political and corporate infrastructure and influence to move this forward genuinely. Add the large miner and everything's in place.

GCM is not in the same place it was even just 2 years ago. Current levels don't reflect at all the genuine concrete progress.

Spread again designed to discourage buying and encourage selling. Feel strongly a buy order being sorted going into the weekend.

Sells being soaker up. Order being filled. Just like yesterday's. More and significant news on the horizon.

Market realisinng that a) interims were actually very upbeat, masses of progress, with the right partners, with a large global miner to come on board too, and b) submission to Government imminent, any day now.

Good luck to all the genuine folks!

The upbeat nature of Polos Interims tells us how good we're going at the moment. Don't think we have long to go before we submission to Government, talking imminent.

Some great stuf there ManuDave!

Great start to the day! Long may it continue :-)

This is the bit I've been watching out for - the proposal to Government of Bangladesh. This is on the very near horizon. Whoever bought in yesterday with £78K at over 30p knows this and likeky knows more than we do.

The multiple IDs this morning :D

...yes! Looking very good GP :-)

Been significant progress. Sense big news on the near horizon.

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Friday 29 March, 2019

GCM Resources PLCInterim Results

RNS Number : 3789U

GCM Resources PLC

29 March 2019

 

29th March 2019

 

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM) 

 

Interim Results for the six months ended 31 December 2018

 

GCM Resources plc, an AIM quoted mining and energy company, is pleased to report its interim results for the six months ended 31 December 2018. The Chairman's Statement and the full unaudited interim report are presented below, and will shortly be available at the Company's website www.gcmplc.com.

 

Chairman's Statement

 

I'm delighted to report to our shareholders on the Company's performance for the six months ended 31 December 2018. It has been a busy period for the Company and I am pleased with the progress made. We have continued to pursue our strategy of developing a holistic power solution, incorporating the Company's mine proposal as a captive mine with its entire thermal coal production being fed to mine-mouth power plants.

[...]

https://www.investegate.co.uk/gcm-resources-plc--gcm-/rns/interim-results/201903290700023789U/