RE: It's amazing how quiet ...6 Aug 2020 21:13
Can someone please explain where we are with MOU's and JVA's, I have pasted below the RNA statement where one is extended by 3 months and the other to 2021. Would be good is someone clarified where we are as I am getting confused. Still no mention of us being included in BRI after all this time and that is what the chinese were tasked with.
Mon, 13th Jan 2020 07:00
RNS Number : 5139Z
GCM Resources PLC
13 January 2020
13 January 2020
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
Extension of MOU with NFC and PowerChina
Extension of JVA and EPC Contract with PowerChina
GCM Resources plc, an AIM quoted mining and energy company, is pleased to announce that, further to its announcement of 11 July 2019, it has agreed an extension of the memorandum of understanding ("MoU") with China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd. ("NFC") and Power Construction Corporation of China, Ltd. ("PowerChina"), for a further three months, on the same terms as previously announced.
The extension enables the Company to continue to progress the formation of a strategic partnership to jointly develop the Company's proposed world class high grade coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project in North-West Bangladesh (the "Project").
In addition, the Company is pleased to announce that, further to its announcement of 17 January 2019, it has agreed the extension of the Joint Venture Agreement ("JVA") and definitive Engineering, Procurement and Construction Contract ("EPC Contract") with PowerChina, for a further 12 months, to 17 January 2021, on the same terms as previously announced.