REG - GCM Resources PLC - Suspension & Financial Update

GCM ResourcesAnnouncement

19/01/2024 14:30

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RNS Number : 3441A  GCM Resources PLC  19 January 2024

19 January 2024

 

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM)

 

Suspension & Financial Update

 

 

Further to the announcement dated 28 December 2023, the Company provides below
an update in regard to the publication of its audited financial statements for
the year ended 30 June 2023, and the funding process. The Company is
progressing on both matters and will look to resolve both issues before the
end of January 2024.

 

The Company will make a further announcement in due course.

 

 

 

This announcement contains inside information as defined in Article 7 of the
EU Market Abuse Regulation No 596/2014 and has been announced in accordance
with the Company's obligations under Article 17 of that Regulation.

 

 

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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