Member Info for Pappiklon

Mr Daud, resigned in Dec 2018, and has chosen to exercise these options now, imho a good sign for news in the offing.
15 April 2020

GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)

Share issue

GCM Resources plc ("GCM" or the "Company"), an AIM quoted mining and energy company, announces that it has received notification from Raof Daud, a former director, to exercise 200,000 options ("Options") over new ordinary shares of 10 pence each in the capital of the Company (the "Option Shares") at a price of 11 pence per Option Share. The consideration received by the Company on the exercise of the Options is, in aggregate, £22,000.

Application has been made for the Option Shares to be admitted to trading on AIM, which is expected to become effective on 21 April 2020 ("Admission"). The Option Shares will rank pari passu with the ordinary shares of the Company in issue.

Following Admission, the Company's enlarged issued share capital will comprise 112,560,009 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.

Sadly couldn't go am in 'isolation'.

Its a seperate field that is too deep to use open pit

Dhaka Tribune article, seems to he increasing press about utilising own coal these days, mmmm

https://www.dhakatribune.com/opinion/op-ed/2020/01/06/can-we-avoid-coal

Polo, major shareholder, been rising all this week, Polo will be one of the biggest beneficiaries of GCM’s Phulbari approval,

https://seanews.co.uk/shipping/maritime-shipping/oldendorff-carriers-delivers-cargo-to-bcpcl-in-bangladesh/

So they have signed a deal on delivery of coal to Praya, of interest to me was the shippers saying that it was possible to ship in for at least 4 months a year because of the monsoons, yet another reason for own coal being a priority.

''Weather restrictions for transhipment in the Gulf of Bengal, due to northeast and southwest monsoons, make transshipment impossible for at least four months of the year''

See Riverfort is presenting at Proactive on Thursday night in London if anyone is interested in the possibilty of gleaning some info from them on their relationship with AMC going forward since the company isn’t very forthright with said info

Hi Marv, welcome back, If before 10th December I’ll be going... unless we get bought out before then in which case I wont!

The Dyani agreement RNS was on 18th May 2017. The first milestone on that was achieved on 14th July 2017, others have followed . We know Dyani had already been working on the project for a year before the gcm/dyani rns. DG Rns was last week we know they have been involved for at least 9 months (signing photo confirms this). Their first milestone to receive payment is The governments approval of GCM’s Scheme of Development.
If we get that approval’ we are totally in business to mine and I would not be surprised if it comes in a similar timescale of under 2 months as did Dyani’s. As I said before Tang does not like to let go of anything (financial) untill he has to .
I was in my 50’s when I first bought GCM shares in a few weeks I will be 70. More optimistic than ever that I will see this project get approval before I move off this mortal coil!

According to their website they were involved in Rampal procurement,. I disagree about next year to see progress on this , I suspect/believe they have been working with these guys for quite some time and they have only finalised what the payoff will be as we approach a concrete further announcement. Mr Tang hates giving anything away unless he has to, Its how its worked in the past. P

The reality on the ground , go through the pics

http://www.xinhuanet.com/english/2019-04/30/c_138025633.htm

Well that would be great timing, the submission to Government RNS just after the local MP speech passionatly pleading in Parliament that they mine the coal for the good of the locals and the country.

Local MP Mustafizur Rahman’s (Fizar) Facebook page can be found at:

https://www.facebook.com/MostafizurRahman10Dinajpur5/videos/395036771326211/

https://goo.gl/zdiZbv

Ducks Lining Up ....

The local Phulbari MP, Mustafizur Rahman (Fizar), made an impassioned speech in parliament for Phulbari coal to be mined, so local MP definitely on board, if you go to his facebook page, you will find a video of it, watch his body language, don't think there can be any doubt it was impassioned. The video came from GOB Parliamentary TV coverage

I will post the link to his page separately in case it gets removed, here is a translation of end bit re Coal, if you listen to speech Coal in Bangla is 'coila'.

“I am at the last stage of my Speech but few points should be mentioned here. Honourable Prime Minister said, more than crore people will get jobs. It should be considered region wise and rationally. Our regions are much neglected. People roaming around with 7 to 10 lac taka as bribe for a job, but they have no job for pion post. Honourable Prime Minister, please do think about our coal region separately, please give proper attention to it. If you give attention to it, it will create job. Lots of jobs will be created using the coal for Power generation”.

There are positive comments re the speech on the FB page, pretty sure I am not allowed to post here, so won't

P

From the Energy Minister on March 2nd

Answer another question, he said Bangladesh needs $70 billion investment for generating 60,000 MW power and another $30 billion for development of energy sector within 2041.

The state minister said steps will be taken to extract local coal by using modern technology and protecting environment and consultation will be made with local people so that they are not affected in any way.

Source: FERBD March 2nd 2019

Thanks Steve, hope to see you later.

Anyone know the running order for tonight, AMC normally last, but you never know.
Tried Pro Act but no reply
Thanks
P

Bit of a delay, expected

GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)

Update re Formal Proposal to Government

GCM Resources plc (AIM:GCM), a resource exploration and development company, announces that, further to the Company's announcement 17 January 2019, in relation to entering into the Joint Venture Agreement and a definitive Engineering, Procurement and Construction Contract with Power Construction Corporation of China, Ltd ("PowerChina"), it can confirm that it continues to work with PowerChina on formal proposal to the Government of Bangladesh. However, further to the Company's announcement of 27 November 2018, whilst good progress is being made in this regard, the formal proposal will not be made by the initial target date of 28 February 2019. A further announcement(s) will be made in due course, as and when appropriate.

Hi Kamilgazela
Just thought I had to respond to the inaccurate content in your second para about Anu Mohamed's rent a mob and local and other 'protests' against the project.

The reality is that the last time they Anu's mob turned up at Phulbari (note turned up not locals) to stir up trouble (hold a demo) a couple of years back, maybe even 3 or 4 years back the villagers beat the **** out of them and told them not to come back. As for protests at the AGM, I have attended several AGM's, the protester numbers range from 8-20, I have personally talked to some of them, some are just Marxist activists, who say the same thing every year, they have been invited time and again to talk to the Company but have never ever, over at least three generations of Chairpersons availed themselves of that offer. I did wonder about the mental health of more than one who I talked to as they were obviously under some form of sedation, last year although I wasn't there i read reports that when asked by the police what they were protesting about at least one replied he didn't know he was there for the fun of it. They produce a lot of hype and BS but at the end of the day will have no influence on the governments decision.

The company has made great inroads over the last couple of years in developing a good working relationship with the villagers, there are admittedly a few radicals with vested interests who are against the project, but the vast majority are not. I would challenge anyone to show me a newspaper report with pictures of any local protests in the past few years, or indeed of any protests locally in the past 6 years with more than 30 participants in the pictures.

Yep, there will be interest from others besides the Chinese, one of the big advantages of Phulbari coal, apart from the obvious in that it's local and of a very high calorific vale but maintenance of plants using it will go down significantly, dirty coal, causes huge corrosion issues.