GCM Resources Regulatory News (GCM)

21 January 2019

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM) 

Nominated Adviser Status Update

GCM Resources plc, an AIM quoted mining and energy company, announces that, further to the notification on 1 November 2018 with regard to Northland's relinquishment of its nominated adviser ("Nomad") status, the Company has identified a replacement Nomad. Due diligence is advanced and the Company is confident that the replacement Nomad will be appointed prior to the 1 February 2019 deadline.

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 is capable of supporting power plants of up to 6,000MW. GCM is awaiting approval from the Government of Bangladesh to develop the Project. The Company has a strategy of combining the Company's mine proposal with up to 6,000MW of power generation, together with credible, internationally recognised strategic partners. GCM aims to deliver a practical power solution to provide the cheapest electricity in the country, in a manner amenable to the Government of Bangladesh.