GCM Resources

GCM: 23.72 0.00 (0.00%)

Delayed:2018-02-20 16:35:09
Bid Price 23.70 High Price 0.00
Ask Price 24.50 Low Price 0.00
Open Price 0.00 Spread 3.32%
Prev Close 24.10 Volume 0.00

GCM Resources Share Price Chart


Historic - 1 year

GCM Resources Share Price Information

Name GCM Resources Epic GCM
Sector Mining ISIN GB00B00KV284
Activites GCM Resources plc (formerly Global Coal Management, formerly Asia Energy plc) has identified a world class coal resource of 572 million tonnes (JORC compliant) at the Phulbari Coal Project (the Project) in North-West Bangladesh. GCM is awaiting approval from the Government of Bangladesh to develop the Project. The Phulbari Coal Project is a substantial, world class coal resource that will support a long life, low cost mining operation. It is the only such deposit in Bangladesh that has been subjected to a full Feasibility Study and Environmental and Social Impact Assessment prepared to international standards. In partnership with the Bangladesh Government, civil society and the community, GCM is committed to developing the Phulbari Coal Project to the highest social and environmental standards. By doing this, GCM seeks to maximise the benefits of the Project for both the Company's shareholders and the people of Bangladesh. The Company (GCM) under its former name, Asia Energy PLC, was incorporated in England and Wales as a public limited company on 26 September 2003. Asia Energy PLC was admitted to the Alternative Investment Market (AIM) of the London Stock Exchange on 19 April 2004. Through seed capital raising and the subsequent placement of shares, some £14 million was raised. In November 2005, following submission to the Government of Bangladesh of the Phulbari Coal Project's Feasibility Study and Scheme of Development, the Company placed an additional 7 million shares and raised a further £33 million. GCM actively reviews investment opportunities in order to broaden its global investment portfolio. Security Type Equity

Key numbers

Latest Share Price (p) 24.10 Net Gearing (%) 4.57
Market Cap (£m) 21.25 Gross Gearing (%) 5.02
Shares in issue (m) 88.18 Debt Ratio 0.00
P/E Ratio -15.06 Debt-to-Equity Ratio 0.00
Divs per share (p) 0.00 Assets / Equity Ratio 1.05
Dividend Yield (%) 0.00 Price to book value 0.55
Dividend Cover 0.00 SROCE (%) -2.63
Earning per share (p) -1.60 EPS Growth (%) 5.88
52-week high / low (p) 53.00 / 17.88 DPS Growth (%)

GCM Resources Broker Views

Date Broker Rec. Price Old target price New target price Notes
21 Nov Northland Capital Corporate 23.72 Reiterates
17 Oct Northland Capital Corporate 23.72 Reiterates
05 Dec Evolution Securities Buy 23.72 440.00 440.00 Reiterates
28 Nov Evolution Securities Buy 23.72 440.00 440.00 Reiterates
21 Nov Evolution Securities Buy 23.72 440.00 440.00 Reiterates

GCM Resources Director Deals

GCM Resources Company News

All resolutions passed at AGM of GCM Resources

GCM Resources has confirmed that all resolutions were passed by shareholders at today's Annual General Meeting.

At 1:27pm: (LON:GCM) GCM Resources PLC share price was +0.13p at 26.63p

Story provided by StockMarketWire.com

GCM operating losses narrow

GCM Resources posts an operating loss of £707,000 for the year to the end of June - down from £974,000 last time.

Pre-tax losses were £1,006,000 compared with £1,043,000 in 2016.

Executive chairman Datuk Michael Tang PJN said: 'Progress is being made to reposition the Company's mining project into a holistic power solution, in line with the objectives of the Government of Bangladesh (Government), which is to significantly expand power generation in order to support long term economic growth and social development in the country.

'In November 2016 we were very pleased to begin our strategic relationship with China Gezhouba Group International Engineering Co Limited (CGGC) by signing a Memorandum of Understanding (MOU).

'The MOU enabled the parties to collaborate in a new proposal to construct an initial 2,000MW mine-mouth power plant in conjunction with the Phulbari coal mine.

'CGGC is an internationally recognised engineering company with infrastructure projects across the world. CGGC's businesses cover the design, construction, investment and operation in power, water conservancy, highways, railways, bridges, municipal works, airports, ports, waterways, industrial and civil buildings, as well as real estate and coal mining.

'At the beginning of 2017 CGGC began a technical pre-feasibility study (PFS) on the proposed power plant with the assistance of GCM. This was successfully completed and announced on 14 July 2017.

'We are honoured to be working with the high calibre CGGC team and much encouraged by their interest in further developing the relationship.

'The parties are currently in discussions to agree a joint development framework agreement which will set out the respective roles and responsibilities, and enable the parties to move forward with the Project.

'By combining the planned coal mine with the proposed 2,000MW mine-mouth power plant in conjunction with CGGC, we are reshaping the Phulbari Coal and Power Project to become an integrated power proposition which we anticipate will be attractive to the Government.'

At 8:30am: (LON:GCM) GCM Resources PLC share price was -8p at 35p

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GCM raises £2m via Primary Bid

GCM Resources has successfully raised £2m via PrimaryBid through an institutionally underwritten offer at 34.4p per new ordinary share. The company said it would issue and allot a total of 5,813,953 new ordinary shares to satisfy the offer.

Executive chairman Datuk Michael Tang said: 'We are delighted with the positive response we have received from both new and existing shareholders.

'The offer through PrimaryBid has enabled private shareholders to participate on the same terms as the institutions.

'The funds raised will put GCM in a strong position to further the mine mouth plant proposal in Northern Bangladesh together with our strategic partner CGGC.'

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GCM Resources' Nomad status rescinded

GCM Resources has been informed that its nominated adviser, ZAI Corporate Finance, has had its Nomad status rescinded by the London Stock Exchange for failure to meet, on a continuing basis, nominated adviser eligibility criteria.

GCM Resources said said the recision would take effect on 19 Oct and at that point the company's shares would be suspended from trading on AIM and if a replacement was not appointed within one month of suspension, the company's shares would be cancelled.

GCM Resources said a new nominated adviser was being actively sought.

At 9:52am: (LON:GCM) GCM Resources PLC share price was -2.75p at 32p

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GCM issues shares

GCM Resources has announced that the Company has now issued and allotted 10,501,932 ordinary shares to settle the convertible loan facility as previously disclosed on 20 June 2017.

At 2:23pm: (LON:GCM) GCM Resources PLC share price was 0p at 32p

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