Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
I doubt they’ll update the shareholder page quickly. However I would have thought that they would have had to disclose the take up as it wasn’t an open offer. At least confirm that the shares were actually taken up and at what price. If shares were live yesterday there must be no regulatory requirement. Anyone know??
LOB, you now have more chance of a 10 bagger with GCM than going long on GME! Missed that potential a couple of weeks ago. You would make more shorting it now but that boat has sailed. Catch a falling knife time.
I'm in the camp of a) positive motion. This is the most action we've been notified of the recent history with all the connected parties, MOUs / JV, new appointments (personnel , nomad & auditors). I've been here too long and I'm expecting this to be THE year. I may have said this to myself several time but this time it does feel different. I am looking forward to the exit as won't miss this share after it's been sold, gone bust or I reach my target price.
if they are only trying to raise £800k that's the equivalent of 7-8 months cash burn of the company so pretty much sees us through 2021.
is it:
a) positive as this means we are moving in the right direction to finally doing something
or b) this is the most they think they can raise at present and will repeat again when needed
WH Ireland are definitely sorting the corporate governance out
I’ll buy your ticket Gooner (thumbs up emoji)
20p end of Feb then £1.23. Sounds good Gooner
a whip around from the shareholders won't get the project off the ground. i was talking about proper funding from someone such as ADB
*paying
Just going back to Hobson.... they’ll be lying him a salary not in shares.... Ex finance director.....like someone said,
Why come back. Got to be news on funding and PC due
James Hobson back then... that’s an interesting re appointment.
W H Ireland a big player
GCM Resources plc (LON:GCM), an AIM quoted mining and energy company, is pleased to announce the appointment of WH Ireland Limited as its Nominated Adviser and Broker with immediate effect.
Board Changes
The Board is pleased to announce a Board reorganisation, effective from 8 January 2021, which will see Mr. Mohd. Najib Bin Abdul Aziz move from Independent Non-Executive Director to Independent Non-Executive Chairman of the Board, with Datuk Michael Tang PJN continuing as Executive Director and Chief executive Officer ("CEO").
The Company is also pleased to announce the appointment to the Board, with immediate effect, of James Hobson as a Non-Executive Director.
Mr Hobson has over 20 years finance and corporate experience, predominantly in energy, mining and international development of which 13 years were previously spent with GCM, including 3 years as the Company's Finance Director. Mr Hobson is currently the CFO of ADC Energy UK and is a Fellow of the Institute of Chartered Accountants in Australia and is based in London.
The CEO of GCM, Datuk Michael Tang PJN, stated:
"I would like welcome James Hobson's return to GCM, to enhance the Board and with his wealth of experience and knowledge of GCM's history he will once again be a valuable asset to the future of the Company and Project."
Rns
It didn’t work on phone 1st time and couldn’t remember exactly what I wrote 2nd time. Thank you for picking me up on my error.
The RNS is more evidence of why GCM nomad search/ appointment IS materially different to Polo's. Does this RNS change any doubters minds from yesterday that GCM shares suspension will be lifted? This could be the first RNS of a few to satisfy the new potential Nomad.
This RNS and agreement is another piece to show why GCM nomad situation IS different to POLO’s. Has anyone who said this would not return from suspension changed their view?? Answers on a postcard
Plus there should be enough cash for 6months with the remaining facility with polo assuming they have the cash to lend. If you refer back to previous rns from 4th (from memory) they were talking of refinancing to carry on longer term.
cont....
Bangladesh needs coal to meet its planned coal fired generation target. Coal import is projected to be on the rise, making reliance on imported primary fuel even higher. However, it is always a preferred and cost-effective option to use domestic energy sources, either entirely, or in part to supplement import sources. But domestic coal supply so far seems uncertain because of poor outcome of underground mining: the recovery is poor; cost of production is high and thus not feasible and cost effective for power generation. Now it is time to look into the other mining options- the Open Cut Mining, which offers better economics, supply stability and reliability over the longer period. The Phulbari mine plan presents the opportunity to compare how open cut mining in similar geological set up could deliver best for the country. PHULBARI COULD BE THE ‘MINE OF OPPORTUNITY’ FOR BANGLADESH.
Open Pit Mining to Deliver
Then what is the best option for Bangladesh to mine its limited valuable coal resource! A close look at Phulbari open cut mine plan is worth useful at this point when underground mining is considered not to be feasible and cost effective.
The Phulbari mine feasibility study considered both open cut and underground options and identified open cut method as the only technically viable option for economic extraction of Phulbari deposit. The study also confirmed that underground mining at Phulbari will lead to a poor resource recovery, about 10-20% of the coal resource and will not be economically viable. Dighipara mine feasibility study and mining experience in Barapukuria support the Phulbari findings!
Phulbari is the shallowest coal basin in Bangladesh with coal seam depth ranges between 150-270 meters. The basin has an in-situ resource of 572 million tonnes of high-quality bituminous coal. The proposed open cut mine plan sets the target of recovering 475 million tonnes of ROM coal, which represents about 83% of the total resource. However, the mineable reserve is calculated down to the base of the Main Seam only, and there are opportunities to mine the lower seams (total resource 58 Mt) which may be realized as the seams become accessible. Thus, a high recovery (>90%) can be achieved against a poor recovery (<10%) in underground method. Phulbari mine with such high amount of recoverable reserve could potentially be the powerhouse for country’s primary fuel supply and bring a balance between import and domestic coal supply mix. Just imagine how many Barapukuria size mine requires to match with the coal recovery of Phulbari open cut mine!
Open cut mining in Phulbari is expected to deliver reliable and stable supply of large quantities of coal (15 Mt/annum at full production rate) for a period of over 30 years. The cost of production, reported to be less than US$ 50/tonne, is far lower in comparison to that of underground mine options. This is an attractive proposition for any large-scale power generation project where long term fuel supply is ensured, coal quality is consistent, and price is competitive. A study revealed that the Phulbari mine production alone can support generation of 6,000 MW of electricity using latest ultra-supercritical plant technology, either in the mine mouth and/or strategically located sites elsewhere in Bangladesh. However, mine mouth power generation is considered to be cost effective, delivers lowest tariff power compared to any other options of coal fired power generation, either based on import or domestic sources. A third of country’s projected coal fired power generation target (19,000 MW by 2041) can be fed alone by Phulbari coal. This is how open cut mining in Phulbari makes the difference - in terms of resource recovery, supply security and power generation potential.
cont....
Rollercoaster of a day. Let's see what tomorrow brings along with the next 30days.... lots to speculate and interpretations for us all to make but if we are honest, no one knows. Like someone said earlier, you pay your money and take your chances so cut the pointless bickering.
E&P had a couple of articles this week. Mentions of Phulbari again and drumming up support for open pit Vs negative remarks from Nasul Hamid. Unfortunately for GCM is that he and Hussana are the votes that count at the moment. But, with more awareness can't be bad and more press the better.
Open Cut Mining:
https://ep-bd.com/view/details/article/NTY2NA%3D%3D/title?q=open+cut+mining+-+option+for+domestic+coal+develop
Right fuel mix full edition (page 15-16)
https://ep-bd.com/userfiles/EP_18_14_All(2).pdf
GLA