GCM Resources Regulatory News (GCM)

26 November 2024

GCM Resources plc

("GCM" or the "Company")

Directorate change

GCM Resources plc (AIM: GCM), the AIM traded mining and energy company, announces that Gary Lye has stepped down as an Executive Director of the Company with immediate effect.

Gary's departure from the board of directors of GCM will enable Gary to continue to focus on overseeing the Company's operations in Bangladesh in the capacity as GCM's non-board Chief Operating Officer. In addition, Gary will continue to act as Chief Executive Officer of Asia Energy Corporation (Bangladesh) Pty Ltd, a subsidiary of GCM.

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About GCM Resources plc

GCM Resources plc (LON: GCM), the AIM traded 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. The Project site can also support over 2,000MW of Solar Power capacity throughout the Project life span. GCM requires approval from the Government of Bangladesh to develop the Project. GCM requires approval from the Government of Bangladesh 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 implemented with its development partner. Together with its credible, internationally recognised strategic development partner, 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.