Member Info for ManuDave

Chunky delayed trade from this morning
647,842 at 28.10p - £182.04k

Answer to you question redeye
To finance its operations during the year, GCM completed a successful Placing and Subscription in conjunction with ETX Capital & WH Ireland Ltd, raising Gross proceeds of £2,130,000 in March 2022. In addition, GCM continues to have available, the short-term loan facility with Polo Resources Limited ("Polo") (the "Polo Loan Facility"). The Polo Loan has not been increased or drawn down during the year and remains at a facility of £3,500,000, with £3,200,000 drawn to date. The terms of the loan facility were amended in March 2022 as part of the completed placing and subscriptions, such that the lender may request conversion by the issuance of new ordinary shares in the Company at 5.14 pence per share (being the Issue Price) subject to any necessary regulatory approvals. All other terms of the agreement remained unchanged. (See Note 12 for detailed terms).



As at the date of this report, the Company had drawn down £3,200,000 of the Polo Loan Facility and the Company currently has approximately £840,000 in available cash resources, which along with the remaining £300,000 of the Loan Facility the Director's believe will only be sufficient to fund the Company's cash requirements for the next seven months, assuming the Company's currently forecast cash costs. The Company is exploring other financing options, and is confident of securing additional funding by the end of June 2023 (the "Additional Funding").

Large delayed trade of 750,520 @ 37.7p ( £282,95K ) just gone through.....

Let’s hope so mate

Nice find Searcher :)

10 years ago if we had seen that in a Bangla newspaper we wouldn’t have been able to sleep thinking about the huge rise that was coming in the morning!

Afternoon Searcher - nice little find.

Hope you are keeping well - unlike the economy!

3 chunky delayed trades totalling 5.5m gone through

Probably will be Pete!

nm

A few trades late in the day with a 400k delayed trade worth £14k. I know it’s not a lot - but it’s a lot for recent trading :)

Come on GCM…….put the proposal in!

time to reward the long term sufferers who have been loyal for 13+ years now….

Good to see you back in after your sabbatical :)

Good also to see we are funded now until the 2nd qtr of 2023 - would be just nice to have a little more solid info to keep us all going!

Strange times indeed in the world at the moment so you just don’t know who is going to do what with all the unknowns with Russia and their fuel supply in the future.

“Datuk Michael Tang, CEO of GCM, commented: "I am pleased that we are able to announce this successful fundraising, with new & existing investors, to provide funds for our development over the next year”

So who are the ‘new’ investors then?

We ‘should’ get a holding rns shortly after the 7th to show us who has the confidence to invest their hard earned into GCM. It will be interesting to see the chap / company / trust who puts up some cash after we have all suffered for 13+ years with the ‘Jam tomorrow’ Rns’s.

How long will it be now with radio silence from the company…….12 months until the next round of fund raising?

Come on GCM, it’s time you threw the long suffering long term holders a bone - I think it’s the least we deserve that after all these years of faithful investment.

Dave

GCM Resources plc

("GCM" or the "Company")



Placing and Subscription to raise £2,130,000



Appointment of Joint Broker & Loan Amendment



GCM Resources plc (LON: GCM), an AIM quoted mining and energy company is pleased to announce that the Company has raised gross proceeds of £2.13million through a placing (the "Placing") of 25,291,828 shares and a subscription for 16,171,777 shares (the "Subscription") of new ordinary 1p shares in the Company ("Fundraising Shares") at a price of 5.14 pence per share ("the Placing Price"), representing a discount of approximately 36.9% to the closing mid-market share price on 1 March 2022 (being the last business day prior to this announcement).

The issue of the Fundraising Shares is within the Company's existing allotment authorities. The Fundraising Shares equate to approximately 30.1% of the Company's currently issued share capital.

The funds raised from the Placing and the Subscription will be principally be used for development capital on the Company's high-quality coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project (the "Project") in north-west Bangladesh, and provide the Company with sufficient funds to cover its corporate operating expenses through to Q2 2023.

Placing & Joint broker Appointment

The Company has raised gross proceeds of approximately £1,300,000 by means of a placing (the "Placing") of new Ordinary Shares (the "Placing Shares") at the Placing Price through ETX Capital, which is the trading name of Monecor (London) Limited. ETX Capital is acting as broker in connection with the Placing



The Company intends to issue approximately 25,291,828 Shares, to raise gross proceeds of approximately £1,300,000, to participants in the Placing. The Placing Shares are expected to be admitted to trading on AIM on or around 7 March 2022.



GCM is also pleased to announce that it has appointed ETX Capital as joint broker, as part of the Placing.



Subscription

An issue of 16,171,777 new ordinary shares of 1p each in the capital of the Company (the "Subscription Shares") to certain individuals including Polo Resources Ltd at the Issue Price to raise £830,000 (the "Subscription") at an issue price of 5.14p ("the issue price").





Loan Facility Amendment



The Company has, as part of the proposed subscription, agreed to amend the terms of the loan facility provided by Polo Resources Limited (the "Facility") of which, as announced on 26 March 2021, there is £300,000 of the initial £3.5 million facility remaining undrawn. The lender may request conversion by the issuance of new ordinary shares in the Company at 5.14 pence per share (being the Issue Price) subject to any necessary regulatory approvals. All other terms of the agreement remain unchanged.





Related party transactions



The participation of Polo in the Subscription and the amendment of the Loan Facility, constitutes relat

Evening Searcher.

Rollovers?
Transfer between accounts?
Transfer to another party?
Nice to see a bit of volume whichever……….I think!

31 January 2022

GCM Resources plc

("GCM" or the "Company")



Financing Update



GCM Resources plc (LON: GCM), an AIM quoted mining and energy company, announced its final results on 22 December 2021, in which it noted that the Company's forecasts indicated that additional funding will need to be either raised from third parties or drawn down under the short-term loan facility with Polo Resources Limited ("Polo Loan Facility") by the end of January 2022, in order to meet current operating cost projections.



The Company can update it is in discussions regarding securing the necessary funding to support its ongoing working capital needs albeit there is no certainty such discussions will be successful. The Company retains the option of utilising a final drawdown of £300,000 on the Polo Loan Facility available as necessary in the event other funding is not forthcoming and such funding if utilised would provide sufficient funds until at least April 2022.



Further updates on progress will be provided as and when appropriate.

20 January 2022

GCM Resources plc

("GCM" or the "Company")



Results of AGM



GCM Resources plc (LON: GCM), an AIM quoted mining and energy company , reports that at the annual general meeting, held today all of the ordinary and special resolutions, as set out in the notice of meeting, were duly passed, and the votes cast were as follows:

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM)



MOU Extension - Phulbari Coal Mine Development



The Company advises that, further to its announcement of 2 June 2021, Power Construction Corporation of China, Ltd. ("PowerChina") has agreed to an extension for a period of a further 12 months from 6 December 2021 to 6 December 2022 on the same terms as the previous memorandum of understanding ("MoU") which is primarily focused on the Phulbari coal mine development. This will allow PowerChina and GCM to determine the modality for PowerChina to become a Mine Development Partner, subject to the approval of PowerChina internal compliance and all other relevant regulatory agencies.



Under the MoU, PowerChina and GCM will discuss and negotiate a mutually agreed business relationship to partner each other in developing the proposed coal mine based on the world class high quality coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project in North-West Bangladesh (the "Project"). These discussions will cover key areas of finance, project development and mining operations.



As announced on 19 October 2021, GCM remains in discussions with China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd. ("NFC") regarding an extension of the framework agreement announced on 15 October 2020 which expired on 12 October 2021.



Michael Tang, Executive Chairman of GCM, commented : "GCM continues to work closely with PowerChina on the Phulbari Coal and Power Project. PowerChina brings an incredible amount experience and credibility to the Project. We are very pleased to report the extension of the MOU with PowerChina and continuing the ongoing discussions leading up to a partnership in developing the proposed coal mine, which is a pivotal aspect of the Project.







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.





For further information:

Another 250,000 @ 5p late trade I see

Yes they look like sells Redeye…… or are they cleverly positioned buys to trick everyone ready for a juicy rns?…….lol…..maybe not!

£10 eow Mr Strap?…….mmmmmmmmm……yea…..I. Guess I’d take that :) Still holding then I presume? It’s been far far too long now hasn’t it…….rolls eyes.

Second day running a late chunky (for GCM) trade.

Today 250,000 @5p

Yesterday was 350,000 @ 5p

Rns due as previous posts stated?

We are due an update for sure.