REG - GCM Resources PLC - Directorate change

GCM ResourcesAnnouncement

26/11/2024 07:00

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RNS Number : 5935N  GCM Resources PLC  26 November 2024

26 November 2024

 

GCM Resources plc

("GCM" or the "Company")

 

Directorate change

 

GCM Resources plc (AIM: GCM), the AIM traded mining and energy
company, announces that Gary Lye has stepped down as an Executive Director of
the Company with immediate effect.

 

Gary's departure from the board of directors of GCM will enable Gary to
continue to focus on overseeing the Company's operations in Bangladesh in the
capacity as GCM's non-board Chief Operating Officer. In addition, Gary will
continue to act as Chief Executive Officer of Asia Energy Corporation
(Bangladesh) Pty Ltd, a subsidiary of GCM.

 

 

For further information please contact:

 

 GCM Resources plc                    Tel: +44 (0) 20 7290 1630

 Keith Fulton, Finance Director       info@gcmplc.com

                                      www.gcmplc.com (http://www.gcmplc.com)

 Allenby Capital Limited              Tel: +44 (0)20 3328 5656

 Nominated Adviser and Joint Broker   info@allenbycapital.com (mailto:info@allenbycapital.com)

 John Depasquale / Vivek Bhardwaj

 Axis Capital Markets Limited         Tel: +44 (0) 203 026 0320

 Joint Broker

 Ben Tadd / Lewis Jones

 

 

About GCM Resources plc

 

GCM Resources plc (LON: GCM), the AIM traded 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. The Project site can also support
over 2,000MW of Solar Power capacity throughout the Project life span. GCM
requires approval from the Government of Bangladesh to develop the Project.
GCM requires approval from the Government of Bangladesh 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 implemented with its development
partner. Together with its credible, internationally recognised strategic
development partner, 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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