from POLO just released..29 Mar 2019 08:50
Polo is pleased that GCM has attracted reputable and leading companies as equity partners, a significant endorsement on the viability and attractiveness of the Phulbari Coal and Power Project.
GCM announced in November 2018 that it had secured a £1.2 million increase to its existing short-term loan facility of £1.1 million with Polo Resources Limited bringing the total loan facility to £2.3 million. The original £1.1 million has already been utilised and this latest amount will be drawn down in equal quarterly instalments of £300,000 and will be used in progressing joint venture arrangements with development partners and preparation of a joint submission to the Government of Bangladesh.