Last checked at 20 Mar 2023 07:00
20 March 2023
GCM Resources plc
("GCM" or the "Company")
Advisor Update
GCM Resources plc (LON: GCM), an AIM quoted mining and energy company, advises that the broking arrangement between the Company and Monecor (London) Ltd trading as OvalX (previously ETX Capital) has ceased with immediate effect. WH Ireland Ltd will continue to act as the Company's sole broker.
This announcement contains inside information for the purposes of article 7 of the UK version of regulation (EU) no 596/2014 which is part of UK law by virtue of the European Union (withdrawal) act 2018, as amended. Upon the publication of this announcement via a regulatory information service, this inside information is now considered to be in the public domain.
For further information:
GCM Resources plc Keith Fulton Finance Director +44 (0) 20 7290 1630
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WH Ireland Ltd James Joyce Andrew De Andrade +44 (0) 20 7220 1666 |
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GCM Resources plc | |||
Tel: +44 (0) 20 7290 1630 | |||
info@gcmplc.com; www.gcmplc.com | |||
About GCM Resources
GCM Resources plc (LON:GCM), the AIM listed mining and energy company, has identified a high-quality coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project (the "Project") in north-west Bangladesh.
Utilising the latest highly energy efficient power generating technology the Phulbari coal mine can support some 6,600MW. GCM requires approval from the Government of Bangladesh in order to develop the Project. The Company has a strategy of linking the Company's mine proposal to supplying coal to the Government of Bangladesh's existing and in the pipeline coal-fired power plants and / or power plants developed development partners. Together with credible, internationally recognised strategic development partners, GCM aims to deliver a practical power solution to provide the cheapest coal-fired electricity in the country, in a manner amenable to the Government of Bangladesh.