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Excellent report and article... good to see Phulbari being mentioned so much!!

Good to see you posting again Bees, best wishes with heath and hope you get back to the UK soon

Let's see if we get some news this week....I would like to see the new directors get their options...the haste in giving them would imply something is close.

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM)



Appointment of Non-executive Director



GCM Resources plc ("GCM" or the "Company"), an AIM quoted mining and energy company, is pleased to announce the appointment of Christian Taylor-Wilkinson to the Board as an independent Non-Executive Director, with immediate effect.

Christian Taylor-Wilkinson, (aged 50) has spent his working life in the City and has over 30 years' experience advising and working alongside companies across many sectors and geographies. He founded Leander PR Ltd, a small cap focused financial public relations agency in April 2009.

Christian's background spans investment banking, investor relations and financial PR, which gives him a broad perspective on the capital markets landscape as well as a deep understanding of the needs of businesses, their boards and their shareholders. He has worked with a wide range of companies - from global European and Asian telecommunications businesses to smaller AIM and NEX enterprises.

After joining the board of NEX listed Altona Energy plc, in January 2019, he now divides his time between running the day-to-day business of Altona, where he is Interim CEO, and providing financial communications and corporate advice to smaller listed companies, through Leander PR.

That's interesting mate ....

just had a very quick scan and this bit caught my eye ...........

Phulbari Coal Project (GCM-Sinohydro/PowerChina) 2000 Dinajpur GCM Resources and PowerChina - Commission
expected 2024

So the last buys of the day were 16.00 and 16.50 and yet the closing price was 15.50 ... how the hell does that work ??

So looking at the holdings, are we now expecting a second RNS to see who sold Mr Fanning these shares, because surely with him now buying another 21% these would have had to come from Tosca???

Extension of MOU with NFC and PowerChina

GCM Resources plc, an AIM quoted mining and energy company, announces that, further to its announcement of 13 January 2020, it has agreed an extension of the memorandum of understanding ("MoU") with China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd. ("NFC") and Power Construction Corporation of China, Ltd. ("PowerChina"), for a further six months, on the same terms as previously announced, in view of the current coronavirus disease pandemic.

The Company notes that significant progress has already been made with NFC and PowerChina under the MoU and that this extension enables the Company to continue towards the formation of a strategic partnership to jointly develop the Company's proposed world class high grade coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project in North-West Bangladesh (the "Project").

In relation to the formal proposal to the Government of Bangladesh, the Company is looking forward to working with PowerChina and NFC to finalise this in due course. A further announcement may be made when appropriate.

The Executive Chairman of GCM, Datuk Michael Tang PJN, stated:

"Whilst the Covid-19 pandemic has delayed our progress with the Project, we believe that it has encouraged the Government of Bangladesh to review and enhance its energy security by utilising local fuel sources, following supply and importation disruptions. This supports our strategy to become an impact project for the people of Bangladesh, providing low cost and sustainable electricity in-country, by combining the Company's coal mine proposal with mine mouth power plants generating 6,000MW.

"We are also pleased to report that a large part of the process towards finalising our strategic partnership with NFC and PowerChina has been completed. Both NFC and PowerChina are highly respected global companies, and in becoming strategic partners to the Project, will add tremendous strength and credibility to our proposal.

"I would like to thank the teams at both NFC and PowerChina for their dedication and continuing support, particularly during this global crisis, towards delivering substantial benefits for the Government of Bangladesh, its people and our stakeholders."

Not a bad day at the office ... more tomorrow please!

ivans, lol, in your dreams... it may drop back, but I very much doubt that now.... it’s been a long wait, but hopefully Dyani have now finished selling the shares that they have to sell, and those that have done their research all know what potential there is here, and what news is due, that’s why we have held and tried to increase our holding for so long... I don’t expect news tomorrow, but am sure it won’t be long, and then who knows where the SP will end... that will depend on the deals that Tang has managed to work, but it’s surely going to be a lot lot higher than 16p .... let’s see what happens ... GL though

Thanks for the clarification gggg

Just a thought, but have they had to dispose of some so that they don’t go over the 30% with the new funding??

All sounds quite positive ... and sounds like hopefully more positive news within 3 months then ....

This was sent to me by a friend.... quite interesting...

https://www.youtube.com/watch?v=WVMbXtUMlJY

AFFORDABLE POWER NOT POSSIBLE WITHOUT DOMESTIC COAL

https://ep-bd.com/view/details/article/Mzk1OQ%3D%3D/title?q=affordable+power+not+possible+without+domestic+coa

All kinds of techno-economic studies for mining domestic coal have been conducted. We have jewel like discovered coalfield at Phulbari. It is possible mining domestic coal ensuring environmental protection and water management, relocation and rehabilitation, rehabilitation of agriculture and farming lands. Finally, local expertise for mining is also growing. Imported coal based power generation without commencing mining own coal through taking required political decision cannot ensure affordable power supply.

Read on.... very interesting read .....

Olderandwiser, looking at the trading again today, it does look and feel like you may well be right...

https://www.google.co.uk/amp/s/amp.scmp.com/business/article/3006802/rise-and-rise-bangladesh

Steveljewell, I assume when you were referring to ManUdave, it was an error to use 'work' in the same sentence lol

Whats special about August 9th ??

Read the last two paragraphs??

https://ep-bd.com/view/details/article/MzczMg%3D%3D/title?q=bangabandhu%e2%80%99s+vision+of+energy+sector