Gcm Resources Share Discussion Threads

[stevehuges] 16/4/2024 07:06

Take the discount off 6.5p not to bad

[bloomberg2] 16/4/2024 07:05

RNS £ 2 million raise ! 8.625P

[johnnyneverdie] 15/4/2024 22:05

Sharif Jamil, member secretary of Dhoritri Rokhhay Amra (Dhora) and coordinator of Waterkeepers Bangladesh, said, “Bangladesh217;s economy is significantly burdened by financing, fuel costs, and fluctuations in foreign exchange rates associated with the current operation of coal-based power plants.

“Even managing its existing coal plants at full capacity is becoming challenging for Bangladesh. Considering new coal plants or continuing old ones increases public health risks and disrupts our climate, which is utterly irrational,” he added.

[baxtea1] 15/4/2024 21:33

BREAKING NEWS

15/3/2024

1st Meeting of Standing Committee on Ministry of Power, Energy and Mineral Resources
Date: 21-April-2024

Time: 11:00 AM

Location: Bangladesh Parliament

Venue: Cabinet Room

28/3/2024

The Bangladesh Government has already taken steps to move away from its current "net-energy-importing" situation aimed at both bringing its domestic coal resources into the energy mix and exploring for gas. With this in mind, and Bangladesh's deteriorating foreign exchange position, it is envisaged that Government Policy will be forthcoming to finally enable extraction of the Country's extensive long-term strategic coal energy assets, such as the Phulbari deposit.

We are more confident than we have been in recent years that we are getting closer to a political breakthrough for the Phulbari Coal and Power Project. When this happens, we are ready to deliver the benefits and investment returns that our patient shareholders deserve.

27/3/2024

Yicai) March 27 -- A unit of Power Construction Corporation of China, a state-owned infrastructure contractor also known as PowerChina, will design and strip Bangladesh's largest coal mine for about CNY7 billion (USD969.8 million).

PowerChina International Group inked the deal for the Phulbari coal mine with UK GCM Resources, Beijing-based PowerChina announced yesterday. The project includes the design of the mining infrastructure and overburden removal, procuring and installing stripping equipment, dewatering and drainage, ground production system, and sewage treatment, it added.

The contract has a four-year lifespan, including two years of overburden removal to expose the first coal for mining, with no warranty period, PowerChina noted. The Phulbari coal mine is located in Dinajpur district in northwest Bangladesh.

25/3/2024

Appointment of Independent Non-executive Directors


GCM Resources plc ("GCM" or the "Company"), an AIM quoted mining and energy company, is pleased to announce the appointments of Paul Shackleton and Charlie Green to the Board as independent Non-Executive Directors with immediate effect. Paul Shackleton will serve as acting Chairman.

17/3/2024

BBC Bangla has learned from the Ministry of Energy that a proposal based on various surveys and feasibility studies conducted in the country's coal mines will be presented to the Prime Minister by April and approval will be sought.”

12/3/2024

Plan afoot for coal extraction

hxxps://businesspostbd.com/power-energy/govt-reviving-plans-despite-strong-opposition

11/3/2024
Phulbari Coal Mining Infrastructure Construction and Overburden Stripping Contract

The Company advises that working under the coal mine development MOU with Power Construction Corporation of China, Ltd. ("PowerChina") (refer to RNS of 28 November 2023), it has signed a contract with PowerChina International Group Limited covering mine development works of approximately US$1 billion necessary to facilitate coal extraction at the Phulbari Coal and Power Project ("the Project"). The advancement of this Contract is subject to receiving the approval of the Scheme of Development for coal mining submitted to the Bangladesh Government under the terms and conditions of its Contract for "Exploration and Mining Coal in Northern Bangladesh".

The scope of works under this Mine Construction Contract includes design, procurement, installation, construction and commissioning of mine infrastructure and overburden removal, dewatering and drainage. It also includes selective mining and stockpiling of valuable industrial mineral co-products that occur in the overburden. These co-products are expected to deliver considerable cashflow for the Project ahead of any coal extraction.

The Mine Construction Contract duration is four years, with overburden removal to expose first coal taking some two years. The Company and PowerChina expect to enter additional contracts covering coal extraction and associated activities to support ongoing open pit mining operations and the Project's commitment to deliver high quality coal supporting at least 6,600MW power generation for over 30 years. A joint proposal with development partner, PowerChina, will shortly be presented to the newly elected Bangladesh Government.

The Mine Construction Contract was entered into on 9 March 2024, however, issuance of a Notice to Proceed with the works is dependent on the Company receiving the necessary approvals from the Bangladesh Government and achieving financial closure. As noted in the beforementioned RNS of 28 November 2023, our development partner, PowerChina is committed to assist with project financing.

Coal Supply Expressions of Interest:

The Company has received Expressions of Interest to purchase Phulbari's coal from both of Bangladesh's current Independent Power Producers, being SS Power Limited that operates the 1,320MW Banshkhali power plant and Barisal Electric Power Company that operates a 350MW unit at Barisal (with plans to add an additional unit). These represent some 27% of the present market.

Bangladesh currently has 6,035 MW of installed coal-fired power generating capacity with a demand for some 16 million tonnes of coal per annum, i.e., equivalent to the Phulbari coal mine's planned production. However, the long-term government plan shows an increase in coal-fired power to 11,830 MW which would require some 36 million tonnes of coal per annum.

The current coal-fired power plants include:
· Existing Barapukuria plants 525 MW
· Payra 1,320 MW
· Rampal 1,320
· Matarbari 1,200 MW
· S ALAM Banshkhali 1,320 MW (Independent power producer SS Power)
· Barisal 350 MW (Independent power producer Barisal Electric Power Company)

8/3/2024
“State Minister for Energy and Mineral Resources Nasrul Hamid said that coal mining will be done by ensuring underground water management. Rehabilitation and employment of the locals will also be ensured. He said that if there is a coal mine in that region, crop production will decrease by BDT 5 thousand crore annually. On the contrary, coal worth about BDT 70 thousand crore will have to be imported in the future.”

“It is possible to extract coal from this mine by the open pit method. This mining license is now in the hands of the multinational company GCM. A majority stake in GCM is said to be owned by a Chinese company. GCM has submitted a full feasibility study on the mine development to the government.”

[baxtea1] 15/4/2024 20:25

You wouldn’t want to be out over the weekend 🚀🚀🚀


1st Meeting of Standing Committee on Ministry of Power, Energy and Mineral Resources
Date: 21-April-2024

Time: 11:00 AM

Location: Bangladesh Parliament

Venue: Cabinet Room

[johnnyneverdie] 15/4/2024 17:21

Still at 8p

Low takeover coming

But before

Massive capital call and massive dilution

[baxtea1] 15/4/2024 17:16

Bounced back nicely after the huge treeshake. 😄🚀🚀

[johnnyneverdie] 15/4/2024 16:36

Still at 8p

Low takeover coming

But before

Massive capital call and massive dilution

[officerdigby] 15/4/2024 15:56

Does seems to be some resistance/support.

[baxtea1] 15/4/2024 14:48

Probably 😂 We are only living an hour away from Balmoral as it goes. He does go for hikes on his own round there.
Although i think he’s still currently resting up at Sandringham

[baxtea1] 15/4/2024 14:25

Haha, bless him Mick. I’ll let Ting Tong know how popular we are 😂

He’s only got to message me & ask where i am. I’ll happily meet up to discuss GCM with him

[baxtea1] 15/4/2024 14:20

150k delayed gone through.

Mm’s working extra hard to acquire stock to fill this order now

[johnnyneverdie] 15/4/2024 13:42

And he is paying a monthly fee to post his lies

🤣🤣🤣🤣9315;

Lse are cleaning the board again this morning

[johnnyneverdie] 15/4/2024 13:41

Another lie from baxfish

😂 no idea what he’s doing apart from what you shared on Friday Mick, I’ve had him filtered for years as you know. The volume of filtered posts indicates he’s a bit hyper today. Too many packets of skittles probably 😂


🤣🤣🤣🤣9315;🤣ԍ15;

Don’t forget folks to his him

[baxtea1] 15/4/2024 13:35

Hi Phil.
He can rant all he likes, nobody cares, all i see is loads of filtered lines 😂

Treeshake & 100k delayed trades coming through, as mentioned this morning.

Buyer still accumulating.

Tree shaking needs to get more volatile to release stock for our buyer.
Our time is nigh 😄👍

IN BAXY WE TRUST 👊

[johnnyneverdie] 15/4/2024 12:30

Another lie from baxfish

😂 no idea what he’s doing apart from what you shared on Friday Mick, I’ve had him filtered for years as you know. The volume of filtered posts indicates he’s a bit hyper today. Too many packets of skittles probably 😂


🤣🤣🤣🤣9315;🤣ԍ15;

Don’t forget folks to his him