REG - GCM Resources PLC - Statement Regarding Share Price Increase

GCM ResourcesAnnouncement

09/06/2023 11:00

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RNS Number : 2733C  GCM Resources PLC  09 June 2023

09 June 2023

 

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM)

 

Statement Regarding Share Price Increase

 

GCM Resources plc, an AIM quoted mining and energy company, notes the recent
increase in its share price over the previous 3 days and is aware of reports
in Bangladesh concerning coal supply shortages and significant power load
shedding in Bangladesh. It also notes significant associated commentary within
Bangladesh on a suggested move towards developing and extracting coal from its
own domestic mines, rather than rely predominantly on imported coal.

 

 

The Company confirms that it has no price sensitive information to announce at
this time and there are no material updates to add to its previous trading
update included in its interim results announced on 22 March 2023.

 

 

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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