Doesn't look good28 Mar 2024 08:27
Financials
GCM incurred a loss after tax of Β£702,000 for the six months ended 31 December 2023 (31 December 2022: loss after tax of Β£693,000). The most significant expenditure during the period was pre-development expenditure, while administrative expenses for the six months ended 31 December 2023 were Β£355,000 (31 December 2022: Β£368,000) and capitalised project expenditure for the period was Β£173,000 (31 December 2022: Β£277,000).
On 1 February 2024, the Company issued 30,303,040 Ordinary Shares by way of subscription at a price of 1.65p per share, raising Β£0.5m before expenses. As previously announced, the Company will need to raise further funds in the coming weeks in order to strengthen its financial position and to meet its immediate working capital requirements; although there can be no guarantee of such