REG - GCM Resources PLC - Advisor Update

GCM ResourcesAnnouncement

20/03/2023 07:00

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RNS Number : 4430T  GCM Resources PLC  20 March 2023

20 March 2023

GCM Resources plc

("GCM" or the "Company")

 

Advisor Update

 

GCM Resources plc (LON: GCM), an AIM quoted mining and energy company, advises
that the broking arrangement between the Company and Monecor (London) Ltd
trading as OvalX (previously ETX Capital) has ceased with immediate effect. WH
Ireland Ltd will continue to act as the Company's sole broker.

 

 

 

This announcement contains inside information for the purposes of article 7 of
the UK version of regulation (EU) no 596/2014 which is part of UK law by
virtue of the European Union (withdrawal) act 2018, as amended. Upon the
publication of this announcement via a regulatory information service, this
inside information is now considered to be in the public domain.

 

 

For further information:

 GCM Resources plc             WH Ireland Ltd

 Keith Fulton                  James Joyce

 Finance Director              Andrew De Andrade

  +44 (0) 20 7290 1630         +44 (0) 20 7220 1666

 GCM Resources plc
 Tel: +44 (0) 20 7290 1630
 info@gcmplc.com; www.gcmplc.com (http://www.gcmplc.com)

 

 

About GCM Resources

GCM Resources plc (LON:GCM), the AIM listed mining and energy company, has
identified a high-quality coal resource of 572 million tonnes (JORC 2004
compliant) at the Phulbari Coal and Power Project (the "Project") in
north-west Bangladesh.

 

Utilising the latest highly energy efficient power generating technology the
Phulbari coal mine can support some 6,600MW. GCM requires approval from the
Government of Bangladesh in order to develop the Project. The Company has a
strategy of linking the Company's mine proposal to supplying coal to the
Government of Bangladesh's existing and in the pipeline coal-fired power
plants and / or power plants developed development partners. Together with
credible, internationally recognised strategic development partners, GCM aims
to deliver a practical power solution to provide the cheapest coal-fired
electricity in the country, in a manner amenable to the Government of
Bangladesh.

 

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