GCM Resources

GCM: 28.00 0.00 (0.00%)

Delayed:2017-09-26 09:00:07
Bid Price 28.00 High Price 28.00
Ask Price 30.00 Low Price 28.00
Open Price 29.00 Spread 6.90%
Prev Close 29.00 Volume 1,339.00

GCM Resources Share Price Chart

Intraday

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) 29.00 Net Gearing (%) 4.01
Market Cap (£m) 23.89 Gross Gearing (%) 4.51
Shares in issue (m) 82.36 Debt Ratio 0.00
P/E Ratio -17.06 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 0.65
Dividend Cover 0.00 SROCE (%) -2.81
Earning per share (p) -1.70 EPS Growth (%) -13.33
52-week high / low (p) 53.00 / 9.88 DPS Growth (%)

GCM Resources Broker Views

Date Broker Rec. Price Old target price New target price Notes
05 Dec Evolution Securities Buy 28.00 440.00 440.00 Reiterates
28 Nov Evolution Securities Buy 28.00 440.00 440.00 Reiterates
21 Nov Evolution Securities Buy 28.00 440.00 440.00 Reiterates
14 Nov Evolution Securities Buy 28.00 440.00 440.00 Reiterates
07 Nov Evolution Securities Buy 28.00 440.00 440.00 Reiterates

GCM Resources Director Deals


GCM Resources Company News

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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GCM losses fall

GCM Resources has reported a loss after tax of £399,000 for the six months ended 31 December 2016 (31 December 2015: loss after tax of £640,000).

The Company said the reduction in the loss was primarily due to a large reduction in share based payments and an 11% reduction in administrative expenses.

Capitalised Project expenditure also reduced by 25% to £250,000 for the six months ended 31 December 2016 (31 December 2015: £335,000) reflecting the Company's continued efforts to reduce costs where possible.

GCM's activities for the period ended 31 December 2016 have been funded by drawdowns of £450,000 from a £1.1 million temporary loan facility with Polo Resources Limited, GCM's largest shareholder.

As at 31 December 2016 the unutilised balance of the temporary loan facility was £550,000, while the unutilised balance of the £3 million convertible loan facility remained at £2,490,000 with no further drawdowns during the period.




At 1:02pm: (LON:GCM) GCM Resources PLC share price was +0.25p at 22.38p



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Mining Roundup

Risers outnumbered fallers on a day without any corporate announcements to give the sector any firm direction.

The sector had four double-digit risers - Edenville Energy (LON:EDL), Weatherly International (LON:WTI), Hochschild Mining (LON:HOC) and GCM Resources (LON:GCM) - up by more than 17.9%, over 17.2%, more than 12.2% and over 12.1% respectively.

The biggest fallers were GoldStone Resources (LON:GRL) and Anglesey Mining (LON:AYM) - down by more than 8.7% ad over 6.2% respectively.


At 4:24pm:

(LON:BEM) Beowulf Mining PLC share price was +0.38p at 6.88p

(LON:BKY) Berkeley Energia Ltd share price was -0.5p at 57.5p

(LON:CEY) Centamin PLC share price was +6p at 141.8p

(LON:CZA) Coal of Africa Ltd share price was +0.03p at 3.2p

(LON:EDL) Edenville Energy PLC share price was +0.07p at 0.46p

(LON:FDI) Firestone Diamonds PLC share price was 0p at 50.75p

(LON:FRES) Fresnillo PLC share price was +83p at 1397p

(LON:GCM) GCM Resources PLC share price was +4p at 37p

(LON:GEMD) Gem Diamonds Ltd share price was -1p at 106.25p

(LON:GRL) GoldStone Resources Ltd share price was -0.13p at 1.3p

(LON:HOC) Hochschild Mining PLC share price was +25.7p at 238.3p

(LON:KMR) Kenmare Resources PLC share price was -0.25p at 245p

(LON:VED) Vedanta Resources PLC share price was +26.5p at 932p

(LON:WTI) Weatherly International PLC share price was +0.13p at 0.85p



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Mining Roundup

Aurum Mining (LON:AUR) reports a loss of £62,000 for the six months to the end of September compared to a loss of £89,000 for the corresponding period in 2015. The loss for the period includes a positive £34,000 fair value adjustment to reflect the value of the company's shareholding in Plymouth Minerals Limited which it received as consideration when it disposed of a majority stake in the Morille tungsten project in 2013.

During the period the company raised £150,000 through the issue of two tranches of convertible loan. The company also raised £25,000 by way of a subscription for shares in July. Prior to the period end, the company had received prepaid cash of £245,000 in relation to the placing that was completed in October 2016.

* * *

The sector's biggest risers were Ncondezi Energy (LON:NCCL) and Greatland Gold (LON:GGP) - up by 20% and more than 12.1% respectively in late trading.

* * *

The sector's biggest fallers were Regency Mines (LON:RGM) and GCM Resources (LON:GCM) - down by over 11.7% and more than 7.4^ respectively.


At 4:13pm:

(LON:AUR) Aurum Mining PLC share price was 0p at 5.38p

(LON:BEM) Beowulf Mining PLC share price was -0.12p at 5.63p

(LON:BKY) Berkeley Energia Ltd share price was +2.25p at 52.5p

(LON:CEY) Centamin PLC share price was +5.65p at 133.95p

(LON:CZA) Coal of Africa Ltd share price was +0.26p at 3.54p

(LON:FDI) Firestone Diamonds PLC share price was 0p at 52.25p

(LON:FRES) Fresnillo PLC share price was +55.5p at 1167.5p

(LON:GCM) GCM Resources PLC share price was -2.5p at 31p

(LON:GEMD) Gem Diamonds Ltd share price was +5.13p at 114.13p

(LON:GGP) Greatland Gold PLC share price was +0.02p at 0.19p

(LON:HOC) Hochschild Mining PLC share price was +11.35p at 198.25p

(LON:KMR) Kenmare Resources PLC share price was +5.25p at 250p

(LON:NCCL) Ncondezi Energy Limited share price was +0.88p at 5.25p

(LON:RGM) Regency Mines PLC share price was -0.05p at 0.38p

(LON:VED) Vedanta Resources PLC share price was +11.5p at 899.5p



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Mining Roundup

Botswana Diamonds (LON:BOD) posts a pre-tax loss of £303,254 for the year to the end of June - down from £339,529 a year ago.

Highlights:

- Visual observation of the core from AK22 noticed a diamond

- Four diamond bearing kimberlite pipes, forming a cluster within close proximity to each other, identified at Maibwe

Chairman John Teeling said: "We are very active on good ground in the best diamond province in the world. We are partnered with the most technologically advanced diamond explorer in the world. Our own team is very experienced and has found diamonds previously, specifically the Karowe discovery in the early 2000s.

"We believe that our expertise and experience can reduce the extreme risk in grass roots diamond exploration. We are making steady progress in the Alrosa/BOD joint venture. To date we have been able to fund the exploration activities. We now have diamonds in two pipes on PL 260. An economic assessment will be made in 2017. The potential in the Maibwe discovery is exciting as GP 173 and PL 186 has kimberlites and diamonds. Verification of the work to date is essential. We are offering to conduct this work. It needs to be drilled."

* * *

GCM Resources (LON:GCM) will hold its annual general meeting at 4 Hamilton Place, London, W1J 7BQ, on 15 December at 11 a.m.

* * *

The sector's biggest risers were Anglesey Mining (LON:AYM) and Amur Minerals (LON:AMC) - up by more than 16.6% and over 8.2% respectively in late trading. The biggest fallers were Condor Gold (LON:CNR) and Stratex International (LON:STI) - down by more than 11% and over 10.2% respectively.




At 4:20pm:

(LON:AMC) Amur Minerals Corporation share price was +0.46p at 5.96p

(LON:AYM) Anglesey Mining PLC share price was +0.38p at 2.63p

(LON:BEM) Beowulf Mining PLC share price was -0.13p at 5.13p

(LON:BKY) Berkeley Energia Ltd share price was -0.25p at 44.5p

(LON:BOD) Botswana Diamonds PLC share price was +0.08p at 1.75p

(LON:CEY) Centamin PLC share price was -7.55p at 132.35p

(LON:CHL) Churchill Mining PLC share price was +0.5p at 37.25p

(LON:CNR) Condor Gold PLC share price was -6.5p at 52.5p

(LON:CZA) Coal of Africa Ltd share price was +0.01p at 3.38p

(LON:FDI) Firestone Diamonds PLC share price was 0p at 56.5p

(LON:FRES) Fresnillo PLC share price was -88.5p at 1295.5p

(LON:GCM) GCM Resources PLC share price was -1.75p at 40p

(LON:GEMD) Gem Diamonds Ltd share price was -1p at 113.25p

(LON:HOC) Hochschild Mining PLC share price was -13.7p at 221.3p

(LON:KMR) Kenmare Resources PLC share price was -9.75p at 245p

(LON:VED) Vedanta Resources PLC share price was -5.25p at 804.75p



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