Gcm Resources Share Discussion Threads

[apfindley] 18/10/2020 20:10

12 years of stalemate..Thats so funny I have to paste it here too incase the rampers are afraid to admit they clicked it.........Stmnt re Share Price Movement Released : 20/06/08 09:01RNS Number : 1664XGCM Resources PLC20 June 2008PRESS 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.

[longjohnsilver1] 18/10/2020 19:38

Big move at 35p hahahahahaha

Same shixx 12 years ago. Just a pump and dump

[invester2010] 18/10/2020 18:42

So what does large part of agreement completed - so whats left? signature.....or bangledesh agreement to proceed.

They do need cheap inhouse coal now, so expect Bangledesh to go the green ligh, so we get the netx rns land. too muhc interest in GCM now, after 110% rise, and nice correcton to key fib point. Expect 605 upside from here, before the next rns due veru shortly. glta.

Also note there alot of shorts here, so we can expect to go higher than 22p thsi time round.

[invester2010] 18/10/2020 18:39

"We are also pleased to report that a large part of the process towards finalising our strategic partnership with NFC and PowerChina has been completed."

The large part has been completed - so what you expect the next rns to be...:)for 25p.

Zak Mir has 35p on next follow-up. big moves ahead.

[apfindley] 18/10/2020 18:21

Back in the day...(cue uncle Albert 'during the war')...the price couldve hit ten quid easy. Although there were a lot less shares in issue, no loan notes, and the development was 700m mine capex and 100% ownership.Move ahead to 2020 and the share count has increased, there are 11p loan notes equivalent to 1/3 of the market cap, the project capex (mine+power plants) has ballooned to 9.7 billion..so ten quid is extremely unlikely now for gcm's part. On a very good deal and carried fully by the Chinese (assuming permits etc get issued and green light) then 2 quid is achievable. Do the maths with the loan notes issued and you'll see that's quite a good price still.

[longjohnsilver1] 18/10/2020 16:43

GP and his 10£ Target

[longjohnsilver1] 18/10/2020 14:38

The quality of the asset is the same for decade.

Sheikh Hasina never mentioned Phulbari.

Let’s wait another 10 years to see what it brings....

[apfindley] 18/10/2020 14:13

The quality of the asset or the need for it isn't really in question.The problem is who will end up owning and mining it.Gcm has been forced into a corner by the addition of the powerplants, and will be unable to avoid yielding most of the asset or being heavy diluted.

[malcolmyoung] 18/10/2020 12:18

One crucial fact that should not be overlooked, is the mining method to be used at Phulbari - Opencast (sometimes termed open pit) We have a single strata of coal at about 150 metres depth. Phulbari has the most accessible coal of the five fields in Bangladesh and the highest calorific value.
Opencast will allow them to mine all the seam safely and then backfill and landscape in years to come.
One superb leverage and one which will appeal to the green lobby, is the mining equipment now available - electric !
Caterpillar in the US have just launched a mining dumper truck which is entirely battery powered - this truck has a carrying capacity of 300 tonnes. The Chinese will have a copy of this within a year and the mine employees and locals, can wave goodbye to all that pollution from the diesel dumpers operating in the pit.

[apfindley] 18/10/2020 12:10

Which figures?The loan conversion price is 3.5million quid at 11p.The combined percentages on conversion at the price with what they already hold, plus dyani, plus the other consultant, comes to around 70%

[pwhite73] 18/10/2020 10:20

apfindley

Your figures are wrong but lets get back to discussing coal power. The reason why I think matters have changed is because Phulbari is what is termed as a mine-mouth power project. Meaning the coal is mined at the power plant. As of 2016 (the latest reliable figures) show Bangladesh produced 995,386 tons of its own coal, it consumed 2.099 million tons but imported 3.128 million tons. As can be seen from the data below Bangladesh imports its coal and exports none.




Imported coal is what is termed as seaborne coal. The three coal power stations that have recently been given the go ahead Rampal, Matarbari and Payra all use seaborne coal, they import their coal. Seaborne coal is becoming increasingly expensive and Bangladesh does not have the money to pay for it since Coronavirus devastated the economy.

Phulbari is their own coal and that is why I think given the current economy crisis the government is about to make an exception and give the green light to Phulbari and perhaps Phulbari only. That's why NFC and PowerChina are now making moves.

[apfindley] 18/10/2020 09:29

4 million job losses for a population of 170million isn't too bad really considering the circumstances. Agree with you about the main exports industry being hit badly, and they do need the money.

The problem here for holders is what will be left for gcm because lets face it, they're gonna have to give up a huge slice to be carried, or face obscene dilution. The Chinese may be touted as saviours by certain people, but they're only here for what they can benefit from it. Looking over the past decade there's been numerous listed companies with good assets who've done deals with the Chinese and ended up as victims rather than partners.

[pwhite73] 18/10/2020 09:06

GCM would have put out that statement on Thursday for only one of two reasons:-

1. They are closer to an agreement with the GOB over Phulbari.

2. They intend to raise cash on the back of the share price rise.

My take is that Coronavirus pandemic has changed everything. The GOB can no longer afford to refuse cash injections from China or from anywhere for that matter. The garment industry that represented 80% of their exports has been decimated, some 4 million have lost their jobs. Over the longer term the GOB were intending to replace coal power with imported LNG (Liquified Natural Gas). This appeased foreign western governments that are part of the global clean energy/climate change strategies and projects and the locals that would have been displaced and disenfranchised.

Coronavirus pandemic has left foreign governments in dire straits (look at our economy for example) and have no money to prop up developing countries like Bangladesh anymore.

Unable to export garments due to low global demand and with no money to pay for imported LNG the GOB has been forced to look at its own resources. China is looking to increase investment in Bangladesh and wants the Bangladesh economy to be reliant on it. Hasina faces the same old question the countries on the African continent faced. Independence and zero money or Chinese dependency and a growing economy.

Coronavirus has forced her hand irrespective of any anti-coal power public announcements she makes.

[longjohnsilver1] 18/10/2020 08:55

As usual will come more delay, more promises, more agreement

And as usual she’llback to 10p until the next pump and dump

The only way to make money with gcm

[apfindley] 18/10/2020 06:32

Because everything is different now .Plus with this years loan notes they will now have enough voting power to force any resolutions at an egm if they convert. If they don't convert and elect cash instead then the dilution will be from other sources to pay for it...and at a much lower price than the 11p notes.You're not very clever at this game. Your naive mistakes at polo show the truth.

[888icb] 18/10/2020 01:44

I have never told anyone not to sell Polo so that is a total lie.
3 years is years plural if you have any understanding of the English language.
The terms of the loan notes have always been clear to everyone and the delisting of Polo does not alter that in anyway. Polo haven’t called them for the last 3 years indeed they have created new ones each year, so why would they call them now.
You really are a sad moron with your multiple logins and spend most of your time having conversations with yourself.

[apfindley] 18/10/2020 01:10

The loan notes been in place for years?..No, its been 3 years and gcm has added to them every 12 months, the last being earlier this year.And according to you nothing has changed.Really?So the delisting of polo will alter nothing?You really need go back and read the original terms of the notes.Polo can elect at short notice, to convert to shares or to call in the loan notes for cash. There need be no given reason or situation to trigger it. Youre not very clever are you 888.And youre sat on polo shares which you cant trade. Rather stupid as you had plenty of opportunity to sell. You chose not to, and you informed other people not to sell and insisted that a nomad would be appointed. You didn't even have the brains to consider the scenario that one wouldn't be appointed.You misled people, so really you're a liar who hasn't even researched these companies.

[longjohnsilver1] 17/10/2020 23:10

888 saying to someone else that his point is irrelevant ??

The brown stuff you are saying for 12 YEARS about gcm and polo is irrelevant

[888icb] 17/10/2020 23:07

The loan notes have been in place for years and have not been called or converted so your point is irrelevant. Nothing has changed in the relationship between Polo and GCM so no reason for the loan situation to be affected. Perhaps you would also like to tell the boys and girls what would have to happen if the loan was converted to shares.
It’s past your bedtime so trot off and try to dream up some more deluded nonsense for tomorrow.

[apfindley] 17/10/2020 22:39

Why do they need phulbari to feed the other power plants??You are aware that other mines are in production already nearby? Get researching. They have coal to feed the others, this coal will be to feed the 3 phulbari power plants. At least some of the other regular dreamchasers have actually done basic research. You could benefit from doing similar so you can then drop the dunce hat.

[apfindley] 17/10/2020 22:35

Well everything i said so far upto and including the polo delisting, has happened, exactly as expected.Those loan notes really are king in the equation here.You need up look deeper into datuk and you will soon open your eyes.Dyani+Polo+all the other named holders (check website) are all linked back to datuk.Collectively it will all amount to over 70% of voting power if the loan notes are allowed to convert at their price of 11p.

[invester2010] 17/10/2020 21:52

Bangladesh has one of the largest coal power/ And now too expensive to import coal....

Bangladesh has one of the largest coal power pipelines in the world, a total of 29 power plants amounting to 33.2GW of capacity, according to a 2019 study by an Australian organisation that tracks fossil fuel investment.

“Coal power is no more a cheap option and it’s becoming more expensive for imported coal.” Mohammad Hossain,

So they need this inhouse coal proposed by GCM t be used as first basis to feed the existing power plants, and avoid import costs.

Thats what the RNS was about last week.. :)

move over 21.5p, expected for new highs.