Gcm Resources Share Discussion Threads

[kibes] 29/3/2019 08:09

It is not clever to be quietly issuing shares at 11p to pay off a loan. They should do a proper fundraising and raise a sensible amount of money since they are out of cash.

[behuge] 29/3/2019 08:08

Agree however still a binary bet as i always said and more dilution coming...

“However, until such time that sufficient funds are raised, there remains a material uncertainty which may cast doubt as to the Group's ability to continue as a going concern.”

[888icb] 29/3/2019 07:56

A very positive interim statement in this morning’s RNS. It sets out the projects and timetables. Very positive that they are progressing negotiations with a large international mining company.

[markth126] 29/3/2019 07:55

It's a bit concerning it remains a materially uncertain about the future as a going concern.

[cambradjones] 29/3/2019 07:47

No comments re rns ???

[888icb] 28/3/2019 20:47

Gcm ended the day number 10 on the leaderboard UP 10.7% having been higher. A good day which we would like to see repeated tomorrow to get this back into 30p+

[jayviperjayviper] 28/3/2019 19:24

Cambradjones
I seen 33 with my own eyes at 14.44pm

Webull states
25.78 - 33.00
With a close of 28.25 mate.

Yes Mick think he said at least 300p potential 500p and if I'm not mistaken he had about 10 posts so not a Johnny Come Lately...


Honest

[behuge] 28/3/2019 19:22

What Is Pushing China Back To Coal?

By Haley Zaremba - Mar 26, 2019, 3:00 PM CDT
Join Our Community
Coal in China
Data released by the Chinese energy bureau this week shows that the country added a whopping 194 million tonnes of coal mining capacity over the course of 2018. This revelation comes in direct contrast with China’s widely publicized promises to reduce their dependence on fossil fuels, especially dirty coal, as well as specific avowals to do away with excess mining capacity.

By the end of last year, according to numbers from the National Energy Administration, China’s total coal mining capacity had gone from 3.34 billion tonnes at the end of 2017 to 3.53 billion. These numbers do not even take into account a further 1.03 billion tonnes per year of already-approved coal capacity currently under construction, nor do they include another 370 million tonnes per year that are currently being extracted as part of a trial operation. What’s more, China’s National Energy Administration has already greenlighted an additional seven coal mining operations which altogether would have a capacity of million tonnes per year within a period of time which already started at the beginning of 2019.

According to data published by China’s National Bureau of Statistics, Chinese mines produced 3.55 billion tonnes of coal last year, a 5.2 percent increase as compared to 2017. The bureau also reported that in 2018 the country generated a total of 4.979 trillion kilowatt-hours of electricity from coal-fired power plants, 6 percent higher than the same measure in 2017.

While coal mining capacity has seen an overall increase, however, the total number of coal mines in China has actually declined. At the end of 2018, the Chinese National Energy Administration reported 3,373 domestic coal mines, down from 3,907 in 2017. The majority of the coal mines that have been shuttered recently were small and ineffective operations in eastern China. At the same time, production in the west has seen considerable expansion in capacity.
Related: Sources: Saudis Admit They Want $70 Oil

This increase in Chinese coal capacity has attracted negative attention from the international community, with critics voicing concern that this development goes directly against the nation’s promise to decrease the amount of coal used in their total energy mix, and therefore will prevent the world’s second-largest economy from meeting its committed goal of capping their carbon emissions by 2030.
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In fact, according to a report released by the International Energy Agency this week, not only are global carbon dioxide emissions continuing to climb, but ever-increasing energy demand around the world has led to record-high emissions from particularly dirty coal-fired plants. Last year the world’s energy demand grew by 2.3 percent, and 70 percent of that demand was met by fossil fuels, with a large contribution from relatively young coal-fired plants in Asia. Thanks in large part to these plants, global emissions from coal-fired power plants surpassed 10 billion tons of carbon dioxide for the first time in history.

These newly released numbers deal a crushing blow to any optimism about decreasing global emissions and even the overall effectiveness of the Paris climate agreement. For a while, things were looking up: emissions decreased, although very slightly, from 2014 through 2016, and coal emissions, in particular, went down. But now that progress appears to be in reverse. In response to this week’s International Energy Agency report, Stanford University professor of Earth system science Rob Jackson told the Washington Post, “We are in deep trouble. The climate consequences are catastrophic. I don’t use any word like that very often. But we are headed for disaster, and nobody seems to be able to slow things down.”

China is only one part of the problem. Discouragingly; the United States and Europe have seen an increase in admissions as well. That being said, countries with massive and rapidly expanding middle classes such as China and India can be expected to continue driving up demand and therefore emissions, especially if they continue to lean on fossil fuels to fill their populaces’ growing need. What’s more, China’s fleet of coal plants are mostly young--around an average of 12 years old with a total lifespan of 40 years--and as their capacity continues to increase, we can expect coal-fired emissions to keep breaking records in the coming years.

By Haley Zaremba for Oilprice.com

[mickb1234] 28/3/2019 19:04

Ha ha £5 by the end of today wasn't it Jay 😂😂

Poor Behuge Bellend must be having kittens trying to get this back to 70p so he can get his losses back! Just 50p will do me please son, just a quick double up again😂ԅ14;

[cambradjones] 28/3/2019 19:03

Looks like 32p max today jay.

[jayviperjayviper] 28/3/2019 18:09

33p Bax let's have it right mate. The dizzy heights of 33p not quite the 500p Some where predicting but alas ended the wrong side of 29p again.......what a shocker!

[behuge] 28/3/2019 17:16

Just as a reminder....this will BEHUGE

China's energy giant inks deal with leading British company for Bangladesh power plant
Source: Xinhua| 2019-01-18 17:37:57|Editor: zh
DHAKA, Jan. 18 (Xinhua) -- China's energy giant PowerChina signed an agreement and a contract with GCM Resources, a leading British resource exploration company, for development of a coal-fired power plant in Bangladesh's Dinajpur district, some 338 km northwest of the capital Dhaka.
Both the Joint Venture (JV) deal and the engineering, procurement and construction (EPC) contract were signed at a ceremony in Dhaka on Thursday.
The proposed project, which is part of a broader strategy by GCM to generate 6,000MW of low cost electricity for the Bangladesh market utilizing domestic coal, is in line with the government's energy development master plan.
The power plant, with two units of a capacity of 1,000MW each, will be built by ultra supercritical technology, which provides lower levels of emissions and delivers the lowest cost of power.
The project would deliver a sustainable power solution for the development and progress of Bangladesh and would have a substantial multiplier effect on the country's economic and social advancement, according to a statement of the companies.
Ding Zhengguo, chairman of PowerChina International, said they were delighted to be a partner with GCM to deliver an integrated mine and power plant for the people of Bangladesh.
"Completing the JV agreement and EPC contract are very important steps in progressing the combined project. As the power plant contractor, we are committed to a positive relationship with the community and to constructing an environmentally friendly power plant for the benefit of the local people."
Michael Tang PJN, executive chairman of GCM, said, "The JV agreement and EPC contract are key milestones for the development of the 2nd proposed 2,000MW power plant project at the mine site and aligns with GCM's strategy to present a holistic power solution to the government of Bangladesh which can generate 6,000MW at the lowest cost for the country."
"The Phulbari Coal and Power Project will deliver a significant multiplier effect on the nation's advancement," he added.
PowerChina is an investor and contractor for three large projects in Bangladesh - two coal-fired power plants with a combined capacity of 1,670MW and a JV for the Dhaka Elevated Expressway.

[baxtea1] 28/3/2019 16:49

Thought I’d risk taking the hounds for a walk & hope the green light didn’t arrive. Missed the massive spike to 32p though 😂😂😂

[jayviperjayviper] 28/3/2019 16:27

Make sure it's facing the right way soft lad

[lefrene] 28/3/2019 16:27

Normal service being resumed. :¬)

[cudmore] 28/3/2019 16:22

ROCKET LAUNCHER READY!!!!!!

[jayviperjayviper] 28/3/2019 16:06

Me Mick? Never I'm not like that ha ha ha

[mickb1234] 28/3/2019 16:01

And here comes the kiss of death American Idiot!

Behuge Bellend keep ramping son, we might get you a goat back soon!

Jay dont be winding up all those clowns on LSE mate 😂😂😂

[american idiot] 28/3/2019 15:52

Ha ha !

Well I knew that if I repeated myself often enough then I would be right one day :-)

I await the news and a 500p share price !