Member Info for ManuDave

Non-exec Chairmans statement

...Our Dhaka team maintains contact with government agencies and has seen evidence that the forementioned momentum towards developing the country's known domestic coal resources and increasing exploration to identify new gas fields is waxing. The downturn in key economic indicators has seemingly been an awakening and it is most fortunate that the country has such a world class energy resource as the Phulbari coal deposit that can easily be developed and help insulate against the vagaries of the world energy market.

GCM has patiently been working to be in the best position to present the Project Proposal to the Bangladesh Government and would welcome its participation as a partner in the Project. With the apparent move towards finally realising the potential of domestic energy resources, now that the National Election has been completed and the Awami League government returned, we are targeting Project Proposal delivery once the new government has settled in.

To reiterate, the Project Proposal focusses on development of the Phulbari coal mine which will have an annual production of over 15 million tonnes, capable of supporting some 6,600MW based on the latest highly energy efficient coal-fired power plant systems for more than 30 years. The Project area can also support over 2,000MW of installed Solar Power Capacity throughout the life of the Project and this is an adjunct to the Proposal. It is aimed to supply power from the Solar Power Park to both the national grid and the Phulbari coal mining operation, enabling the mine to attain carbon emission neutrality and "Green Mine" status.

During this last Financial Year, our team continued to work closely with development partner, Power Construction Corporation of China, Ltd. ("PowerChina"). They are a diverse and extremely experienced organisation with the capabilities to support all aspects of the Project. Apart from an MOU focused on coal mine development and Joint Venture Agreements for power plants of 4,000MW (two 2,000MW Stages), as indicated below, PowerChina has also shown interest in the proposed Phulbari mine site Solar Power Park.

Other steps taken in Financial Year 2023 include:

· On 22 August 2022, the Company announced that it had agreed a further extension of the consultancy agreement with DG Infratech Pte Ltd ("DGI"), a Bangladeshi controlled company, for an additional two years. DGI's prime role is to provide advisory and lobbying services in relation to the Company's business, namely to achieve project approval.

· On 12 December 2022, the Company announced that the MOU with PowerChina, focused on coal mine development, has been extended for a further 12-months to 6 December 2023.

· On 9 January 2023, the Company announced a Joint Development Agreement ("JDA") for the proposed Solar Power Park to be developed as an adjunct to the Phulbari Coal and Power Project. Under the terms of the JDA, G

29 January 2024

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM)

Final Results for the year ended 30 June 2023

Notice of Annual General Meeting

GCM Resources plc announces the publication of its final audited results for the year ended 30 June 2023 (the "Annual Report and Accounts") and that the Company's 2023 Annual General Meeting will be held at 10.00 a.m. on Thursday 29 February 2024, at QEII Centre, Broad Sanctuary, Westminster, London, SW1P 3EE.

The Annual Report and Accounts and the Notice of Annual General Meeting will be posted to shareholders on Tuesday 30th January 2024. Copies are available on request from the Company and will be available on the Company's website (www.gcmplc.com). The Annual Report & Financial Statements are also available on the 'Financial Reports' page of the Company's website.

Further to the RNS dated 28 December 2023, the Company's shares are currently temporarily suspended from trading on AIM. The Company's shares will remain suspended until the settlement and completion of subscription to raise £500,000, previously announced on 26 January 2024.

For further information:

You can only say that now he going livininhope!

Anyway................................. back to my main invest now which is GCM.......pmsl..sorry.....i'll get my coat!

Gooner - I couldn't help it apologies! :)

Off topic - have you seen news re Klopp - "Liverpool manager Jurgen Klopp is to step down from the role at the end of the season, saying he is "running out of energy".

He;s done well to be fair - as much as it pains me to say it!

Agreed Pappi - who would put in £500k if they weren’t confident of a positive outcome?

Allenby must also be confident, so that’s another plus in my kind.

Wiseowl - I didn’t know you were invested in MATD ……. You should have said! 😉😉

Well we are funded now (until the end of May anyway), so we won't be going into suspension which is a result...

Application has been made to the London Stock Exchange for, in aggregate, 30,303,040 new Ordinary Shares to be admitted to AIM. It is expected that Admission will become effective on 2 February 2024. Following Admission, the Company's enlarged issued share capital will comprise 237,825,076 Ordinary Shares with voting rights in the Company. As the Company holds no shares in treasury, this is the total number of the voting rights in the Company which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change in the interest, in the share capital of the Company under Chapter 5 of the FCA's Disclosure Guidance and Transparency Rules as reflected in the Company's articles of incorporation.

Issue of warrants

In addition, Allenby Capital Limited, who are acting as agent in respect of the Subscription, will be issued with 303,030 warrants to subscribe for new Ordinary Share at a price of 1.65 pence per Ordinary Share exercisable for a period of 3 years from Admission.

The Warrants will not be admitted to trading on AIM or any other stock market. The issuance of the warrants is subject to Admission.

Suspension and annual report

As announced on 28 December 2023, the Company's shares have been suspended from trading on AIM pending completion of an ongoing funding event and release of the Company's financial statements for the year end 30 June 2023. It is anticipated that the Company's delayed financial statements will be announced on 29 January 2024.

Further updates on the lifting of the suspension of trading in the Company's shares will be given in due course.

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM)

Subscription to raise £500,000

GCM Resources plc, an AIM quoted mining and energy company, announces that it has successfully raised gross proceeds of £0.5m by means of a direct subscription (the "Subscription") of new Ordinary Shares (the "Subscription Shares") at a price of 1.65 pence per share (the "Subscription Price"). The Company will need to carry out an additional fundraise before the end of May 2024 to fund its working capital for the next 12 months.

The Subscription Price represents a discount of 37.7 per cent to the Closing Price of 2.65 pence per Ordinary Share on 25 January 2024, being the latest practicable business day prior to the publication of this announcement.

The net proceeds of the Subscription will provide the Company with a source of general working capital to progress its existing projects.

Subscription summary

• The Subscription has raised £500,000 (before expenses) through the issue of 30,303,040 Subscription Shares at the Subscription Price.

• The Subscription Shares will represent 12.7 per cent. of the Enlarged Issued Share Capital.

• The net proceeds of the Subscription will be used to provide the Company with a source of general working capital to progress its existing projects.

The Subscription

The Company will issue 30,303,040 Subscription Shares, to raise gross proceeds of £500,000 to participants in the Subscription. The Subscription Shares will be admitted ("Admission") to trading on the AIM market ("AIM") of London Stock Exchange plc ("LSE") on or around 2 February 2024.

Subscription Information

The Subscription is conditional, inter alia, on Admission of the Subscription Shares to trading on AIM and the lifting of the suspension of trading in the Company's shares. The Subscription and issue of warrants (as detailed below) has been conducted utilising the Company's existing share authorities.

The Subscription Shares will be issued, credited as fully paid, and will rank pari passu with the existing Ordinary Shares in issue in the capital of the Company, including the right to receive all dividends and other distributions (if any) declared, made or paid on or in respect of such shares after the date of their issue.

Application has been made to the London Stock Exchange for, in aggregate, 30,303,040 new Ordinary Shares to be admitted to AIM. It is expected that Admission will become effective on 2 February 2024. Following Admission, the Company's enlarged issued share capital will comprise 237,825,076 Ordinary Shares with voting rights in the Company. As the Company holds no shares in treasury, this is the total number of the voting rights in the Company which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change in the int

24 January 2024

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM)

Requisition Notice

GCM Resources plc, an AIM quoted mining and energy company, announces that it today received a notice from Polo Investments Limited ("Polo"), pursuant to Section 168 of the Companies Act 2006, requesting that a resolution to remove Christian Taylor-Wilkinson be tabled, as an ordinary resolution, at the forthcoming Annual General Meeting of the Company or a general meeting of GCM to be convened as soon as practicable. Polo currently holds 43,328,003 shares representing 20.9% of the Company's total voting rights.

In the event that Christian Taylor-Wilkinson is voted off the board or otherwise leaves the Company, the board would comprise three executive directors, and no non-executive directors, falling short of the minimum guidance set out in the QCA Corporate Governance Code and raising questions about the efficacy of the Board as a whole, and the appropriateness of the Company to be trading on AIM.

WH Ireland, the Company's Nominated Adviser ("Nomad"), has advised that if such a circumstance occurs the Company would therefore have to add a number of independent non-executive directors to the board in the short term. If such additions to the board are not made to WH Ireland's satisfaction , it is highly likely that the WH Ireland would tender its resignation with immediate effect.

Pursuant to Rule 1 of the AIM Rules for Companies, if a company ceases to have a Nomad the Exchange will suspend trading in its AIM securities with immediate effect. If a new Nomad is not appointed within one month of the date of resignation of the original Nomad, this will result in the Company's ordinary shares being delisted from AIM and the Company's admission to AIM being cancelled.

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.

Not quite dotted the i’s and crossed the T’s quite yet, so a delay of only 12 days maximum is not worrying imo….

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM)

Suspension & Financial Update

Further to the announcement dated 28 December 2023, the Company provides below an update in regard to the publication of its audited financial statements for the year ended 30 June 2023, and the funding process. The Company is progressing on both matters and will look to resolve both issues before the end of January 2024.

The Company will make a further announcement in due course.

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.

Hi Searcher.

Chowdhury has historically been against coal mining hasn’t he.

This was from an article on him back in August 2023:

Prime Minister's Energy Advisor Dr Tawfiq-e-Elahi Chowdhury rejected the idea of developing the local coal sector saying that it will destroy country's valuable agricultural land and underground aquifer.

He made this remarks at a webinar titled: "Philosophy of Bangabandhu Sheikh Mujibur Rahman on Energy Security, Achievement and Implementation Status." on Tuesday organised by Bangladesh Energy Society.

He said, we need energy but not at the cost of the life and livelihood of the millions of people of the Northern part of the country�at the same time we have to think about our valuable agricultural land and underground aquifer issues.”

Interesting to see him leaving his post then… 🤔

Couple of great articles there Searcher thanks - you can almost hear the penny as it drops can't you ..... :)

Https://www.bbc.co.uk/news/world-asia-67889387

Bangladesh's Prime Minister Sheikh Hasina has secured her fourth straight term in a controversial election.

Ms Hasina will serve another five years in office after her party the Awami League and its allies won 152 of the 300 parliamentary seats contested.

The polls were boycotted by the main opposition, the Bangladesh Nationalist Party, who have alleged the election is a "sham".

Sunday's result comes after mass arrests of BNP leaders and supporters.

Independents won 45 seats and the Jatiya Party won eight seats.

It is the fifth term in total for Ms Hasina, who first became prime minister in 1996 and was re-elected in 2009, remaining in power since.

Human Rights Watch estimates that nearly 10,000 activists were arrested after an opposition rally on 28 October turned violent, resulting in the deaths of at least 16 people and injuring more than 5,500.

"The government is claiming to commit to free and fair elections with diplomatic partners while state authorities are simultaneously filling prisons with the ruling Awami League's political opponents," HRW senior Asia researcher Julia Bleckner said in a statement in November.

The Awami League has denied these accusations, with Law Minister Anisul Huq saying: "Some of the cases go back to violent incidents that took place during the 2001 and 2014 elections."

'My husband died in Bangladesh jail weeks before vote'

Fears have been raised that this new victory for the Awami League could lead to de-facto one party rule.

Very few expect the government to relax its crackdown. More so, if opposition parties and civil society groups continue to raise questions over the legitimacy of the government.

The BNP boycotted the election after the Awami League rejected their demands for an independent caretaker government to preside over the polls.

Until then, "our peaceful and non-violent movement will vigorously continue," Tarique Rahman, the acting chairman of the BNP told the BBC by email from London where he has lived since 2008.

Mr Rahman, who is the son of Ms Hasina's bitter rival, former Prime Minister Khaleda Zia, also denied accusations that BNP party workers were involved in arson attacks in the run up to the poll.

Ms Zia is currently under house arrest on charges of corruption.

In 2018 Mr Rahman was convicted in absentia of orchestrating a grenade attack on a campaign rally for Ms Hasina in 2004 and sentenced to life imprisonment. Ms Hasina was injured and at least 20 others were killed in that incident.

"All allegations against me are baseless and rooted in political vengeance," he said.

The BNP has also called on people to not cast their votes.

'What is the point?' ask disillusioned voters ahead of polls

But Ms Hasina's supporters insist she has provided much-needed political stability for Bangladesh.

"We have continued the democratic process which has given this political stability. I think the world should credit Sheikh Hasina for that,"

Doh!

Just reread that article and noticed it’s from 2016!

Apologies - I’m not ramping honestly! 😂

Shows how long it’s been going on though!

Best I leave the researching to Searcher i think! 🙄

Illusive…. Not illusion 🙄

I was looking for the illusion coal policy, and found this is from November. Not sure if it’s been posted or not?

“I think the government will develop country’s two major coal fields like Dhigapara and Barapukuria considering the existing environmental act,” the BUET professor said.

He advised the government to avoid the controversial coal field development to overcome public outrage.

“Prime minister’s idea to develop ‘coal city’ in the mining areas is a very good idea,” he observed.

https://www.daily-sun.com/printversion/details/185690

This will be the coal policy they were working on in 2010 then?

Finally done it then!

From the link:

Energy Sector

Like the election pledges of 1996, 2008, 2014, and 2018, the pledge of 2024 also mentions the exploitation of coal resources. Pledges are.

 Production has significantly increased from the drilling of new wells. Such initiative will be strengthened further.

 Gas supply to the north and western regions will be ensured. The supply of gas and LPG will be significantly increased. State-owned enterprises will be strengthened for these activities.

 Coal policy has been formulated giving due priority to national interest. Required priorities will be given to the exploration of coal and other minerals, according to the policy.

Today 07:30

RNS Number : 2253Y

AIM

02 January 2024

NOTICE

02/01/2024 7:30am

TEMPORARY SUSPENSION OF TRADING ON AIM

GCM RESOURCES PLC

At the request of the company trading on AIM for the under-mentioned securities has been temporarily suspended from 02/01/2024 7:30am, pending publication of the Company's annual audited accounts.

ORDINARY SHARES OF 1P EACH, FULLY PAID (B00KV28) (GB00B00KV284)

If you have any queries relating to the above, please contact the company's nominated adviser on +44 (0) 20 7220 1666.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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