14 Jul 2017 15:46
14 July 2017
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
Technical Pre-Feasibility Study on Power Plant Proposal
GCM Resources plc ("GCM" or the "Company"), a London based resource exploration and development company, is pleased to announce that in respect to the mine-mouth coal fired power plant proposal being considered jointly by GCM and China Gezhouba Group International Engineering Co. Ltd ("CGGC"), a technical pre-feasibility study ("PFS") has been completed.
The PFS indicates that the development of a mine-mouth coal fired power plant generating up to 2,000MW at the Phulbari Coal and Power Project site is technically feasible. GCM and CGGC are in discussions to further progress the proposal.
This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.
For further information:
GCM Resources plc James Hobson Finance Director +44 (0) 20 7290 1630
| Bell Pottinger Lorna Cobbett +44 (0) 20 3772 2500
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ZAI Corporate Finance Ltd Nominated Adviser and Broker Tim Cofman +44 (0) 20 7060 2220 |
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GCM Resources plc |
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Tel: +44 (0) 20 7290 1630 |
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info@gcmplc.com; www.gcmplc.com |
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GCM Resources (GCM)