Gcm Resources Share Discussion Threads

[legionnaire2] 17/3/2021 15:02

Today 14:58
17 March 2021
GCM Resources plc
("GCM" or the "Company")

Project Update

GCM Resources plc (LON: GCM), an AIM quoted mining and energy company, is pleased to provide an update regarding the Phulbari Coal and Power Project (the "Project") and our Development Partners.

From communications over the past few days, our Development Partners have reaffirmed their commitment to progressing the Project and have acknowledged that the global COVID-19 pandemic had impacted their ability to meet timelines over the past year.

China Nonferrous Metal Industry's Foreign Engineering and Construction Co. Ltd ("NFC"), one of our Key Development Partners, have confirmed they are moving to resume a normal working status and that they are gearing-up to make progress on commitments for coal mine development as set out in the Framework Agreement signed between the parties on 15 October 2020.

Power Construction Corporation of China, Ltd ("PowerChina"), have additionally confirmed and re-iterated their strong commitment to the Project and to making progress under the extended JV Agreements, as announced on the 19 January 2021. PowerChina are focused on working with the Company to develop the Project using the most advanced mining and power generating technology, while adhering to the strictest compliance of health, safety and environmental standards. Their stated aim is to produce clean and sustainable energy and power for Bangladesh.

Michael Tang, CEO of GCM, commented: "We are pleased our relationships with NFC and PowerChina are reaffirmed and that despite the difficulties over the last 12 months both locally and globally, they are taking steps to progress their involvement in the coal mine development which is a cornerstone development for the Project."

"I would like to thank the teams at NFC and PowerChina, for their dedication and continuing support, particularly during this global crisis, towards delivering the Project to the Government of Bangladesh, its people and our stakeholders."

[saveloyandchips] 17/3/2021 15:01

Hahahahaha-idiot

[longjohnsilver1] 17/3/2021 09:03

The clowns are starting the day watching the paint dry




Hahahahahahahaha



Ignore the clowns folks and listen to the master Longjohn


Stock market crash is coming shortly and phulbari will disappear like a fart on the face of mickey

[longjohnsilver1] 16/3/2021 19:52

Nasrul hamid said




No coal



GOBD never mentioned phulbari



SP says it all. A penny stock remain a penny stock

[mickmack] 16/3/2021 18:38

Even the UK loves coal!

"Mike Starkie, the Conservative mayor of the town, which is on the Cumbrian coast in north-west England, says the 500 promised well paid jobs, with at least as many in the supply chain, are vital to a remote town that has not recovered from pit closures in the 1980s. “It will transform lives and the local economy,” Starkie said. “Ninety per cent of people support it. I get more complaints about new housing.”

Just like in Phulbari where the people are desperate for the investment and jobs.

[longjohnsilver1] 16/3/2021 18:37

Market crash coming this year



Won’t be good at all

[mickmack] 16/3/2021 18:34

Even more coal coal coal

[malcolmyoung] 16/3/2021 18:12

Carbon neutrality by 2050 or 2060 is decades away - lots of time yet to build coal fired powerstations, dig mines and burn the stuff - luvly, luvly

While Beijing has reduced coal’s share in the nation’s energy mix in recent years, total power consumption has risen, so its usage has also climbed. Complicating the picture is that China also has the world’s biggest fleet of coal-fired power plants, and more than half of them are less than 10 years old. Because they can run for several more decades, it’ll be tough to shift to alternatives.

“All of that installed capacity doesn’t go away overnight,” said Dennis Wamsted, an analyst for the Institute for Energy Economics and Financial Analysis.

ALL sounds good...... nice long slow payback required.
We're digging for Bangla, Bangladesh
We're going to have a massive, great coal mine...........ha ha ha £10 ha ha ha...

[apfindley] 16/3/2021 18:08

Jay behave yourself.

[apfindley] 16/3/2021 18:07

Do keep up.I specifically say the 3.7bn is for ONE power plant and the mine only.For all three power plants plus the mine it will be....3x3bn +700m = 9.7bn Ontop of that there are other financial commitments which were detailed in the report last year, which is where the extras add up to over 12bn.You are aware of the breakdown of costs, not just the astronomical headline figure from your asset owner.

[therealsatan666] 16/3/2021 18:01

I imagine that disgusting creature can smell brown stuff permanently!

[longjohnsilver1] 16/3/2021 16:45

And another day down



Nobody wants this penny stock

[malcolmyoung] 16/3/2021 16:44

..listen to LongJohnShatPants ' I'm smelling brownstuff again ' - guess you better look behind you then get down to Superdrug as soon as you can for some more KevlarKontinence pants.
As for Nasrul Bye Bye Hamid, he seems about as useful as a wet weekend.

[longjohnsilver1] 16/3/2021 14:52

Listen to longjohn and Nasrul Hamid



No more coal



Bye bye coal

[longjohnsilver1] 16/3/2021 14:00

China turns its back on Bangladesh BRI coal projects

Beijing’s decision a rare signal of reluctance to fund polluting projects in Belt and Road Initiative

[legionnaire2] 16/3/2021 12:22

Don’t use coal to develop your nations as we did and increasingly do...

[therealsatan666] 16/3/2021 12:15

It appears coal is alive and kicking after all. Who would have thunk it ha ha

[malcolmyoung] 16/3/2021 12:13

....excellent find mick - World-s-three-biggest-coal-users-getting-ready-to-burn-even-more. coal, coal, coal - luvly jubbly let's have more.