Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
No jam but plenty of tea, coffee, buscuits and water! Twenty six attendees and it lasted twelve minutes! Followed by a 45 minute presentation from DA, followed by director chats. 27.5 million tonnes expected to increase to 45/50 mt. Several references to share price having dissapointingly gone in opposite direction to the company's prospects, so far! Expected to tender for more Portugal locations when the tendering process opens. Oman and Moz processes continue but the focus is Portugal.
I think the above were the main bullet points but perhaps others will add.
IB: I fully concur. Perhaps there is some positive news item they would like to publish and include in the script, resulting in the delay. The mind boggles at the almost endess possibilities that could be!
I'm expecting it to be announcing notice of the Financial Results for the Year Ended 31 December 2018 and the Annual General Meeting. As I understand it they have to provide the results within five months of the Financial Year end and have to give at least 21 days notice of the AGM. Last year they made the joint announcement on 13th April and in 2017 it was made on 24 February. The project dates aren't the only things slipping!
Given the amount of dissatisfaction being expressed on here I expect the AGM will be particularly well attended. The announcement last year was on 13th April for a 10th May AGM. Hopefully a store of good news is being saved until then!
Agreed GP. Fears of a cheap T/O have been expressed but what is considered cheap? Not so long ago it was feared Tang was lining his pockets every which way to secure a huge beneficial stake directly, indirectly and via Polo.
In the 18th May 2017 RNS regarding the Power plant Consulting Agreement it was stated " After the MOU was announced the Company saw its intra-day share price reach a four year high at 60.83 pence on 14 November 2016. Â The Company's Board of Directors ("Board") believes that upon the completion of each milestone, GCM's share price is expected to benefit from a significant re-rating." We haven't yet seen that sustained benefit but remain hopeful.
Should there be a T/O offer then the sp offered would be applicable to all share holders, wouldn't it? Given GCM's strong potential now with PC backing, what would make Tang agree to sell out cheap, or is that a relative term?
I would add that there has been a lot of talk about the latest super ultra critical extraction method.. At the recent AGM Gary Lye did state that the calorific content of one tonne of coal now is much greater than previously attainable.
On 28th December I did post a report of the AGM proceedings as many on this board were unable to get in due to the protesters. The relevant extract I posted reads:- "GL pointed out that regarding company value, not only had coal prices greatly increased from years ago but the Mwh of energy that can now be extracted from each tonne of coal, using the latest technology, has also improved substantially."
I hope this helps to explain the gap and perhaps the reason for additional power generation capability.
Pappiklon; The RNS of 11th September 2018 announcing a PFS states:-
GCM Resources plc ("GCM" or the "Company"), a London based resource exploration and development company, is pleased to announce that it has agreed with Sinohydro Corporation Limited ("SINOHYDRO") for SINOHYDRO to undertake a prefeasibility study and other due diligence on proposed mine-mouth coal fired power plants which would generate up to 4,000MW at the Phulbari Coal and Power Project site. These power plants would be in addition to the existing 2,000MW power plant proposal.
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=GCM&ArticleCode=rd59l6oz&ArticleHeadline=Prefeasibility_Study_for_Further_Power_Plants
The RNS of 2nd July 2018 states:-
The Company recognises the valuable contribution made by the Consultant to-date. GCM has achieved a strong strategic partnership with CGGC, for the proposed 2,000MW mine-mouth thermal power plant at GCM's proposed coal mine in North-West Bangladesh ("Power Plant").
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=GCM&ArticleCode=uw9i6kt9&ArticleHeadline=Power_Plant_Consulting_Agreement__Update
I’ve not seen or heard of any official physical tie-up with Barapukaria yet but perhaps that may come in due course. For the moment though I think we can be sure that the 6000MW referred to involves GCM’s Phulbari mine resource only. I hope to be corrected if I’m wrong as that would be a welcome bonus.
The extra 2000MW is the project with China Gezhouba Group International Engineering Co Ltd ("CGGC"), making 6000MW in total. See RNS of 6th November 2018 :-
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=GCM&ArticleCode=doyq1dzp&ArticleHeadline=Prefeasibility_Assessment_for_Further_Power_Plants
shujja; This link too is old and is a Powerpoint Presentation from November 2004, shortly prior to the 2005 Cazenove article:- http://www.gcmplc.com/sites/default/files/2017-09/Asia_Energy_19th_MineSite.pdf
I've posted the link previously but think it nicely supports the point you are making.
A couple of years ago, when Kilkenny was buying into GCM, I recall that there was some speculation on this board regarding whether there might be a link up for tax purposes with another large holder who was selling down. Whether there was a connection between the two I do not know,
Perhaps circumstances are similar and there is now a more advantageous location than Malta. If most of Kilkenny's holding has found a single home then we ought to receive notification in due course, as gggg21 has referred to.
See this from 2017:- https://www.morningstar.co.uk/uk/news/AN_1497972452064824200/gcm-resources-settles-gbp11-million-repayment-by-issuing-shares-(alliss).aspx
Goonerpete; thank you for that. I don't need to BS this board and never have tried, I don't post that frequently and when I do I try to be helpful, I see no point in being discourteous or dishonest.. I've been a shareholder here for many years and met the director concerned several times at Agm's. I felt he would be approachable, even if it was a Sunday.
I've been increasing my holding along with the growing confidence in GCM and was also selfishly concerned enough to make the contact today. Another reason to attend AGM's, meet the guys at the sharp end and gauge and engage with them as people. Also to meet other shareholders too.
A text to a mobile, with apologies. Goonerpete; you are obviously a sceptic and you either choose to believe or not. It's up to you, it doesn't really matter to me. I posted what I was able to find out in an attempt for an early explanation. Those proposing to phone the ofice tomorrow will know the answer soon enough and will bopefully report their findings too.
basil58: At the recent AGM I sought clarification regarding the Nomad. I asked the question and James Hobson, Finance Director, said the appointment of a Nomad was in hand and he was confident it would be made within the timescale. He also added that it was better to take a little more time to appoint one of quality. I was reassured by that answer and hope you will be too.
Hi bees, a happy and prosperous new year to you. I'm also sorry that events prevented us having a discussion and that you were unable to meet afterwards. I did meet with Phulbari later though.
I thought it worthwhile posting the historic document earlier ( http://www.gcmplc.com/sites/default/files/2017-09/Asia_Energy_19th_MineSite.pdf ) as there may be many who still haven't seen it before, Even for those that have it shows the perceived valuation of the mine project, at US$2.3 billion, way back in 2004. The Market Capitalisation at £156 million for £3.50 a share was also a noteworthy point. Coal prices have doubled since then and the number of shares have more than doubled too. Whatever anyone's opinion might be right now it does provide an interesting insight to the past., although it should not be taken as an indication of future prospects, as all responsible institutions and individuals would warn.