My suspicion is that the next RNS will be on Tuesday to announce the date and location of the AGM.
RY's appearance at the Mayfair meeting is to merely placate and take the sting out of many shareholders' anger at the company's very poor timeline communications and will also serve as a sort of proxy for the AGM being held elsewhere.
However, if he does get a relatively easy ride at Monday's meetings, maybe the AGM will be held in London after all.
Robin is presenting at the "Mining for Battery" event in Piccadilly at the Geological Society on the 26th. It starts at 1.30pm and no doubt he will be on first.
That event is charging £28 per person. Many won't want to pay that and many will be at work.
I suspect that the event at the Chesterfield Hotel, Mayfair (a stone's throw from Piccadilly) at 6pm is largely to placate shareholders after the company's recent dismal record of not meeting of its own timelines and milestones (which then becomes shareholders' millstones). The late delivery of the PFS and the much heralded media week event that simply evaporated with the morning mist are just two of several.
Another reason for the Chesterfield gathering is, I think, that the AGM is not going to be held in London and this will give us the chance to vent our disapproval.
"So it's possible a strategic partner may be announced before the PFS release."
As someone said on another board a long time ago, we've got more chance of turning Ayres Rock into a chocolate muffin!
Yes. Still September 2018.
Sloppy, very sloppy. Poor attention to detail.
I hope that is not indicative of how they are managing other aspects of the business.
"Delivery of Prefeasibility Assessment Report for
Further Mine-Mouth Power Plants
Further to the announcement on 11 September 2018, GCM Resources plc ("GCM" or the "Company"), an AIM quoted mining and energy company, is pleased to advise that it has received a "Power Plant Prefeasibility Assessment Report" ("PFS") from Power Construction China Corporation of China Ltd ("POWERCHINA"), the parent company of Sinohydro Corporation Limited.
The PFS considers the technical aspects of developing 4,000MW of power generating capacity to be implemented in two stages (each stage consisting of two 1,000MW units) at the Phulbari coal mine site. These power plants are in addition to the existing 2,000MW power plant proposal with China Gezhouba Group International Engineering Co Ltd ("CGGC") which GCM reported in its announcement on 14 July 2017. All power plants are planned to be commissioned in line with the coal mine's ramp up to full production.
The POWERCHINA report confirms that by utilising the latest highly energy efficient Ultra-Super Critical power plant design, 6,000MW can be generated from the mine's thermal coal production. This is a value-adding step for the Phulbari Coal and Power Project and potentially provides a complete market for the planned 12 million tonnes per annum of thermal coal production.
In the preparation of the PFS, GCM's Bangladesh-based personnel organised for a large team of technical experts from POWERCHINA to visit the proposed site of the Phulbari Coal and Power Project. GCM's personnel worked closely with the POWERCHINA team, contributing its technical skills, experience, and local knowledge to help streamline the study and other necessary due diligence.
POWERCHINA is a State-owned Key Enterprise of People's Republic of China, and is a world-leading integrated engineering construction group. In 2018, POWERCHINA ranked 182nd among Fortune Global 500, 41st among Top 500 Enterprises of China, came 6th in the list of the world's 250 largest global contractors and placed 2nd among top 150 engineering design companies worldwide according to Engineering News-Report.
POWERCHINA and the Company are currently in discussions to further progress the relationship.
The Executive Chairman of GCM, Datuk Michael Tang PJN, stated:
"This is a significant step for the Phulbari Coal and Power Project as it confirms that technically the Project is able to support 6,000MW of power generation. Subject to satisfactory negotiations, we aim to extend the arrangement with POWERCHINA and then for more detailed feasibility studies to be completed on the proposed mine mouth power plants, which we anticipate will provide energy at the lowest-cost in Bangladesh.
"We are confident that with the support of such high calibre development partners the Phulbari Coal and Power Project will deliver substantial benefits for the Government, the people of Bangladesh and our shareholders."
From link to the Eventbrite site, RY will be presenting on the 26th November.
I assume from that the AGM will be in London on or around that date.
If it is not and it's held in the Russian Far East, then RY will have done more to trash his credibility than anything posted on any of the boards.
We can only hope that really some stonking news will be released between now and then apart from the Mining Update.
The date of the AGM last year was announced on the 31st October.
If I'm not mistaken, it has to be announced three weeks in advance.
" ... without decent news". Hope springs eternal!
GPBack wrote:
"There are websites who for a very small fee will give you information you need to proof (prove) your points."
GP, I assume that, as you have quite a large holding and keep adding, you have paid a small fee and have all the information to confirm your personal decision to hold these shares?
If so, and you are confident that everything is so reassuring to yourself and others, perhaps you may wish to share what information you have?
For the record I think the Dyani is highly suspicious and is merely a means of certain entities gaining as much of a stronghold, directly and indirectly on the company for as low a share price as possible.
If Dyani is such an positive influence, they must have other accomplishments to shout about apart from Tang claiming that they have delivered the recent deals which have been RNS'd.
But have they really? What precisely did they really do that Tang couldn't have with all his contacts with the Chinese?
GCM have trumpetted the pedigrees of the Chinese companies and their accomplishments around the world. Why doesn't he give all the background to Dyani?
Transparency gives shareholders confidence. Withholding material facts and information doesn't.
If he were to quote 'commercial confidentiality' as a reason, that won't convince me and many others on the boards.
Noloss, when are you going to learn when to use "their" and "there".
I suggest you consult a dictionary.
Operator glitch!
Operator glitch!
Operator glitch!
Sorry, I forgot LSE like to filter out other web page addresses.
Hope this works.
hxxps://www.v o x m a r k e t s.co.uk/articles/the-minerals-behind-battery-electric-vehicles-91e6193/?mailId=5bb777244429e9001b8e18a1
... for Battery Electric Vehicles.
See the article here:-
**************************************/articles/the-minerals-behind-battery-electric-vehicles-91e6193/?mailId=5bb777244429e9001b8e18a1
There's some interesting opinions in the article, an extract from which is:-
"Bezant resources BZT gold-copper mining exploration and development company, currently owns the rights to a JORC compliant resource producing an estimated 20 million tonnes per annum of copper and gold.
The project is estimated to have a $3.7 billion post-tax net cashflow and a post-tax NPV of $739 million, this dwarfs its 3.4m mkt cap, currently listed on AIM at 0.34p a share."
Sound familiar to any company we know of?
Good weekend all and I hope the keyboard warriors will take some time off for reflection. Thankfully I have over around 65 on filter, but it is a pain in la derriére to have to read so many responses to their verbal diarrhoea.
From today's RNS:-
"Additionally, the Company has been successful in conserving its cash reserves which allows it to continue to work closely with its financial advisors developing other near and long-term financing opportunities.
The Directors are confident that they will be able to raise funds in the near future and plan to continue advancing the project in 2018-2019.
In total the Company has spent US$48,000 on capital equipment during the period (US$258,000 for the same period in 2017) and US$1.3 million on exploration costs (US$1.7 million in the same period in 2017)
Administration expenses for the period have increased compared to the same period last year due to a combination timing differences and additional expenditures related to corporate development."
If the company can so precisely quantify what it has spent on capital equipment in the previous and current year, why can't it give precise comparative figures for administrative expenses?
Think about it.
Anybody got any ideas?
cossy, excuse me whilst I stand aside as my cynicism speaks.
We've got more chance of finding a catflap on a cow's Rs than getting an RNS tomorrow.
And hey presto, one will pop into my mailbox at 07.03 tomorrow and prove my cynicism misguided.
But, most likely, it will only be the August drilling update. Yawn!
“Everybody is in the process of reviewing it, [the PFS] once we have finished that, it will go into its own separate audit.”
Now that implies a much longer timespan than his "in the very near future" which he used just a few weeks ago and is clever language to carefully smudge, fudge and blur what he has said before.
RY has very little credibility left with me.
cowboysteve in answer to your post at 5.17pm, last year's AGM was on Friday 17th November at 3pm. I usually don't have anything on on a Friday pm so I hope to be there again this year.
You'll remember me, I think, a tall slimly built old man, glasses with a bald head sitting in the row in front of you and asked a lot of questions.
I'll probably have as many questions again this year.
It's a long article.
I suggest you get yourself a coffee, put your feet on your desk and make yourself comfortable.
http://europe.chinadaily.com.cn/epaper/2018-09/14/content_36912448.htm
Thanks to gizmohican on the other board.
There are elephants in Arizona? :-)