Last checked at 20 Jun 2008 09:01
20 June 2008
PRESS RELEASE
GCM Resources plc ("GCM")
The Board of GCM notes the recent changes in the GCM share price and confirms that it is not aware of any new developments in its business or expectations to account for such changes.
The Phulbari Coal Project, as described in the 2007 Annual Report, remains the priority for GCM and the Board of GCM is committed to receiving approval for the Scheme of Development. GCM notes the recent press reports that the Coal Policy is being finalised but GCM has not been notified of this. The Board continues to work positively with the Government of Bangladesh to gain approval for the project.
GCM will advise the market on any substantive developments as and when communicated to GCM.
Enquiries:
GCM Resources plc:
Graham Taggart
Finance Director
Ph: +44 (0)207 290 1630
JPMorgan Cazenove
Nominated Advisor
Michael Wentworth-Stanley
Ph: +44 (0)207 588 2828
Steve Baldwin
Ph: +44 (0)207 588 2828