We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for streaming realtime charts, analysis tools, and prices.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Gcm Resources Plc | LSE:GCM | London | Ordinary Share | GB00B00KV284 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.40 | 5.88% | 7.20 | 3,985,276 | 16:35:25 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 7.00 | 7.25 | 7.375 | 6.875 | 6.875 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Coal Mining Services | -1.32M | -0.0056 | -12.71 | 16.93M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:35:25 | O | 1,100,000 | 7.20 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 16/4/2024 | 13:25 | ALNC |  GCM Resources raises GBP2.0 million via direct subscription |
| 16/4/2024 | 07:00 | UK RNS | GCM Resources PLC Subscription to raise £2.0 million |
| 02/4/2024 | 12:57 | UK RNS | GCM Resources PLC Warrants Exercised |
| 02/4/2024 | 12:17 | ALNC | EARNINGS: AdvancedAdvT hails "good progress" after Capita deal |
| 28/3/2024 | 07:00 | UK RNS | GCM Resources PLC Interim Results for the 6 months ended 31 Dec 2023 |
| 25/3/2024 | 07:00 | UK RNS | GCM Resources PLC Appointment of Independent Non-executive Directors |
| 11/3/2024 | 09:41 | ALNC | GCM Resources shares surge on Phulbari coal and power project deal |
| 11/3/2024 | 07:00 | UK RNS | GCM Resources PLC Phulbari Coal Mining Infrastructure Contract |
| 07/3/2024 | 07:00 | UK RNS | GCM Resources PLC Warrants Exercised |
| 29/2/2024 | 11:25 | UK RNS | GCM Resources PLC Result of AGM |
Gcm Resources (GCM) Share Charts1 Year Gcm Resources Chart |
|
1 Month Gcm Resources Chart |
Intraday Gcm Resources Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 19/4/2024 | 18:17 | GCM - Long termers, banter & research | 64,659 |
| 29/3/2024 | 10:17 | GCM Resources - Now a Serious Takeover Target | 44 |
| 13/4/2019 | 19:44 | Ј5+ | 7 |
| 02/1/2019 | 01:31 | GCM - (Asia Energy) Phulbari promo literature | 107 |
| 01/10/2018 | 13:38 | GCM .... She's about to go BALLISTIC | 8 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 16:15:00 | 7.20 | 1,100,000 | 79,200.00 | O |
| 15:35:25 | 7.20 | 358,920 | 25,842.24 | UT |
| 15:18:16 | 7.25 | 5,462 | 396.00 | O |
| 15:11:20 | 7.11 | 35,000 | 2,488.85 | O |
| 15:08:25 | 7.25 | 9,004 | 652.79 | O |
| Top Posts |
|---|
Posted at 19/4/2024 09:20 by Gcm Resources Daily Update Gcm Resources Plc is listed in the Coal Mining Services sector of the London Stock Exchange with ticker GCM. The last closing price for Gcm Resources was 6.80p.Gcm Resources currently has 237,825,076 shares in issue. The market capitalisation of Gcm Resources is £16,933,145. Gcm Resources has a price to earnings ratio (PE ratio) of -12.71. This morning GCM shares opened at 6.88p |
Posted at 18/4/2024 11:17 by johnnyneverdie Redeyemines on lse posted a very valid pointVery concerning redeyemines Posts: 1,296 Price: 7.75 No Opinion ----Fund Raise shenanigansToday 19:51 ---- I want to take a close look at this latest fund raise, and I think it may be important to look at the previous one first and see if there are any similarities. ---- When i looked at the FR in Jan, the first thing that stood out, was that it was not a placing, but rather it was a Subscription----a difference just in wording ?---no, in my opinion it was more of a money lending exercise from an outfit called Clear Capital Management. -On paper it looked like they had BOUGHT 30,3 mill shares at 1.65p for £500/-, but did they.? -They NEVER appeared on the large shareholder list, even though it looked like they had "bought" 12.5% of the company----so what really happened ? -Well my guess (and this really is just my opinion) is that CCM lent GCM £500/- in exchange for 30.3 mill shares, which CCM then sold on to "clients" and into the mkt,( at anywhere between 1.9p and 2.2p), in order to recoup their outlay.----I was tallying the sales all along, and sure enough, when those sales totalled £500/- , the selling stopped and the share price moved up all the way from 2.2p tp 10p -What was in it for CCM i hear you ask----well they managed to recoup their outlay by selling around 25 mill shares, so they finished up with 5 mill shares for free (or they could have sold out completely and made £100/- or 20% profit over less than 1 month)----not bad at all. --The shares finished up in Client (ii's ?) and our PI's hands. ----Think im wrong ? -Then look at the large shareholders list on GCM web site---you wont find them there with that 12.5% holding---they are not there and in fact they never have been, not even from the admission date of the new shares---not a mention. -----Now that doesn't sound right to me----but there is something even more alarming. ----Clear Capital Management seem to have been air brushed out of GCM's history all together. -Go back on all the fund raise RNS's and you wont find one mention of CCM in any one of them-----they were there when the RNS's came out ---but they are not there now----the RNS's have been altered (don't think that is allowed , is it ?), and all mention of CCM has been removed. - -Anyway---lets come back to this current fund raise. - -Is it going down the same rout---my personal opinion is,--- yes it is - -It's another Subscription, again not a placing----so i'm looking to see if we are in for the same ride. -Will this latest 30 mill shares now be passed on to "clients" and also fed into the mkt for us PI's to consume------ --------WHATCH THE VOLUMES -If i'm right then we have to start adding up the large sales volume again-----with the share price static i'm assuming 59% of daily turnover is sales and 50% is buys -so at the moment i think they have shifted about 9 mill shares, and if they are following the same route as before, then they will need to sell about 25 of the 30 mill before they get their money back---should take maybe about a week----lets see. As you say this is alarming !! This is YES This is how they play with the pump and dump No reply? Not surprising redeyemines Posts: 1,296 Price: 7.75 No Opinion RE: ----Fund Raise shenanigansToday 19:54 -Shares will be admitted on about the 19th so will AXIS C M appear as a large share holder list and will any drop in holding also be RNS'd---or will ACM disappear the same way CCM has ? - -I have tried to speak to he co on this but am getting no reply. |
Posted at 17/4/2024 20:04 by johnnyneverdie Redeye interesting stuffredeyemines Posts: 1,296 Price: 7.75 No Opinion ----Fund Raise shenanigansToday 19:51 ---- I want to take a close look at this latest fund raise, and I think it may be important to look at the previous one first and see if there are any similarities. ---- When i looked at the FR in Jan, the first thing that stood out, was that it was not a placing, but rather it was a Subscription----a difference just in wording ?---no, in my opinion it was more of a money lending exercise from an outfit called Clear Capital Management. -On paper it looked like they had BOUGHT 30,3 mill shares at 1.65p for £500/-, but did they.? -They NEVER appeared on the large shareholder list, even though it looked like they had "bought" 12.5% of the company----so what really happened ? -Well my guess (and this really is just my opinion) is that CCM lent GCM £500/- in exchange for 30.3 mill shares, which CCM then sold on to "clients" and into the mkt,( at anywhere between 1.9p and 2.2p), in order to recoup their outlay.----I was tallying the sales all along, and sure enough, when those sales totalled £500/- , the selling stopped and the share price moved up all the way from 2.2p tp 10p -What was in it for CCM i hear you ask----well they managed to recoup their outlay by selling around 25 mill shares, so they finished up with 5 mill shares for free (or they could have sold out completely and made £100/- or 20% profit over less than 1 month)----not bad at all. --The shares finished up in Client (ii's ?) and our PI's hands. ----Think im wrong ? -Then look at the large shareholders list on GCM web site---you wont find them there with that 12.5% holding---they are not there and in fact they never have been, not even from the admission date of the new shares---not a mention. -----Now that doesn't sound right to me----but there is something even more alarming. ----Clear Capital Management seem to have been air brushed out of GCM's history all together. -Go back on all the fund raise RNS's and you wont find one mention of CCM in any one of them-----they were there when the RNS's came out ---but they are not there now----the RNS's have been altered (don't think that is allowed , is it ?), and all mention of CCM has been removed. - -Anyway---lets come back to this current fund raise. - -Is it going down the same rout---my personal opinion is,--- yes it is - -It's another Subscription, again not a placing----so i'm looking to see if we are in for the same ride. -Will this latest 30 mill shares now be passed on to "clients" and also fed into the mkt for us PI's to consume------ --------WHATCH THE VOLUMES -If i'm right then we have to start adding up the large sales volume again-----with the share price static i'm assuming 59% of daily turnover is sales and 50% is buys -so at the moment i think they have shifted about 9 mill shares, and if they are following the same route as before, then they will need to sell about 25 of the 30 mill before they get their money back---should take maybe about a week----lets see. As you say this is alarming !! This is YES This is how they play with the pump and dump No reply? Not surprising redeyemines Posts: 1,296 Price: 7.75 No Opinion RE: ----Fund Raise shenanigansToday 19:54 -Shares will be admitted on about the 19th so will AXIS C M appear as a large share holder list and will any drop in holding also be RNS'd---or will ACM disappear the same way CCM has ? - -I have tried to speak to he co on this but am getting no reply. |
Posted at 16/4/2024 12:07 by baxtea1 Reposting useful info buried under all the repetitive irrelevant drivelBREAKING NEWS 16/3/2024 Another 16 months working capital Michael Tang CEO said: " I am delighted with the support from the London Market, which comes at a time when we are increasingly more confident that the Government of Bangladesh is receptive to the advantages of domestic energy production; our focus and main effort now is to secure the consent to develop the Phulbari Coal and Power Project, which we are well placed to develop alongside our global energy infrastructure partners, Power China." 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-importin 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://businesspost 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.” |
Posted at 16/4/2024 08:01 by 888icb Fiddler a proven liar once again. A couple of weeks ago he stated the raise was at 3p. More than 100% wrong.This is a good price and was fairly obvious from how the share price was being held below 10p. GCM now clear for lift off on the appropriate news with no issue of a raise hanging over it. |
Posted at 15/4/2024 21:33 by baxtea1 BREAKING NEWS15/3/2024 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-importin 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://businesspost 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.” |
Posted at 11/4/2024 21:35 by johnnyneverdie 🤣🤣&#What a clown Of course the chinese will pay 10£ for a company with a share price of 10p 🤣🤣&# they will make an offer for peanuts adamk87 Premium Member Posts: 3,907 Price: 9.975 No Opinion RE: 1000% UP In Four MonthsToday 20:56 Confirmation of approval will bring a triple figure SP, TR1’s and more JV’s for different aspects of the project will filter through, this will see the share price rise further before work begins back end of 2024 early 2025 and a potential quadruple figure (pennies so £10+) offer is made for GCM by the Chinese imo. |
Posted at 09/4/2024 13:41 by baxtea1 Latest newsBREAKING NEWS 28/3/2024 The Bangladesh Government has already taken steps to move away from its current "net-energy-importin 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://businesspost 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.” |
Posted at 09/4/2024 13:06 by baxtea1 GCM taking off, latest news summaryBREAKING NEWS 28/3/2024 The Bangladesh Government has already taken steps to move away from its current "net-energy-importin 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://businesspost 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.” |
Posted at 09/4/2024 10:07 by baxtea1 Ignore the two clowns. These are the facts. Boomtown us coming 🚀🚀&#BREAKING NEWS 28/3/2024 The Bangladesh Government has already taken steps to move away from its current "net-energy-importin 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://businesspost 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.” |
Posted at 09/4/2024 09:56 by baxtea1 BREAKING NEWS28/3/2024 The Bangladesh Government has already taken steps to move away from its current "net-energy-importin 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://businesspost 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.” |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
