Member Info for Stokes1610

Its been a terrible investment for everyone

We were told a formal proposal was happening nearly 4 years ago now

Feels like a big ponzi scheme

Crazy to see this share being dragged down on such tiny volume.

Problem is the next fundraise will wipe out all us retail investors.

And another all time low!

Given up on this now, this is a write off!

I suppose the only positive thing about this share is the fact the major stakeholders haven't sold.

Polo Resources Limit and Dyani Corporation Limited both still holding tight.

Share price just hit a new low today.

What a joke this investment has turned out to be.

I wonder why Mohd Najib Bin Abdul Aziz decided to resign?

Till the next fundraise

The Government first need to show interest in the project instead of openly dismissing open pit mining in every newspaper.

Every time the idea of extracting coal for energy independence is brought up it is immediately disregarded due to environmental concerns.

Open pit mining will affect the country’s large aquifer and destroy our topsoil of valuable lands is wording every time.

Totally pathetic they are still talking about this 17 years later.

They make as if GCM are some sort of rebel terrorist group out to cause trouble in the country. 😂

Https://thefinancialexpress.com.bd/economy/bangladesh/fallout-of-ukraine-war-bangladesh-pays-extra-80b-for-fuel-other-imports

Former member of Bangladesh Energy Regulatory Commission (BERC) Maqbul-E-Elahi Chowdhury presented the keynote paper at the meet, which was also addressed by energy-expert Dr M Tamim, former principal secretary to the Prime Minister Abul Kalam Azad, ex-chairman of Bangladesh Power Development Board (BPDB) ASM Alamgir Kabir and Summit Group chairman Mohammed Aziz Khan.

The PM's energy adviser outright rejected an idea of developing local coalmines in the wake of huge coal import to meet unmet fuel demand in Bangladesh, particularly for power generation.

"We will not go for extracting local coal now," he told his audience, reasoning that it might destroy valuable agricultural land and underground aquifer.

He said several studies on this option have already been carried out.

Unfortunately all falls on deaf ears with Hasina on the throne.

Https://www.google.com/amp/s/www.businesstoday.in/amp/latest/corporate/story/gautam-adani-meets-bangladesh-pm-commissions-indias-first-transnational-power-project-389884-2023-07-15

I'm sure she accepted a large backhander when these two met.

Either put the proposal in or sue the Bangla government!

If nothing happens in the next 6 months I personally think it's game over.

Company will fail to raise funds and Tang will take this private.

Shareholder % of Issued Capital

Polo Resources Limited 20.9

Dyani Corporation Limited 14.0

TOTAL 34.9

Percentage holdings not in public hands 34.9%

Never thought we'd see the lows of 2016 but we are significantly lower now.

Share price has been obliterated over the last few years.

Surely it's now or never for the company.

Https://www.nytimes.com/2023/06/18/climate/coal-electricity-bangladesh.html

GPback disappeared after investing in ODX. Last posted 30th Oct 2021.

The other have probably lost faith sold up and moved on.

Does seem strange the directors felt they need to issue an RNS regarding the share rise.

Annoying thing is they haven't once released an RNS to try and support the share price when it was tanking for no reason over the last few months.

Statement Regarding Share Price Increase

RNS

GCM Resources plc, an AIM quoted mining and energy company, notes the recent increase in its share price over the previous 3 days and is aware of reports in Bangladesh concerning coal supply shortages and significant power load shedding in Bangladesh. It also notes significant associated commentary within Bangladesh on a suggested move towards developing and extracting coal from its own domestic mines, rather than rely predominantly on imported coal.