Global Coal Management Plc (formerly Asia Energy PLC)



Overview

GCM Resources plc (GCM) is a London-based resource exploration and development company. Its principal asset is its undeveloped coal deposit in the Phulbari region of Bangladesh, the development of which is awaiting approval from the Government of Bangladesh. It also has investments in other companies with mining interests. The company's shares are quoted on the Alternative Investment Market (AIM). (Ticker code: GCM).

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.

Coal Project facts

■ Energy security and diversity – The Project has a unique role to play in addressing the country’s electricity shortfall as its development will provide the basis for a step change in the country’s electricity generating capacity.
■Regional development – The Project will provide 17,000 jobs (direct and indirect). In addition the development of new industries using the industrial mineral co-products from the mine will create thousands of more jobs. The living conditions of all affected people will be improved and their livelihoods will be restored and in many cases improved. As a result of year round irrigation, improved water quality, improved inputs and improved farming practices it will be possible to produce three crops per year with higher yields than at present.
■Huge economic impact – Phulbari will contribute 1% to Bangladesh’s GDP each year and pay US$7.0 billion in taxes, royalties and service charges to the Government over the life of the Project. The replacement of high sulphur imported coals and other hydrocarbons will have a positive effect on balance of payments and air quality.

In partnership with the Bangladesh Government, civil society and the community, GCM is committed to developing the Phulbari Coal Project to the highest national and international 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.

Background

Bangladesh is one of the most densely populated countries in the world with some 162 million people living in an area two thirds the size of the United Kingdom or about the size of New York State. Less than one third of its population live in cities while the majority live in rural areas relying on a predominantly subsistence lifestyle. GDP per capita is around US$1,700 (ppp) per annum compared with a world average of US$10,500. Less than half the population have access to electricity. Bangladesh is a country of enormous potential. It has the eighth largest work force in the world and is included in the “Next Eleven” countries that, after the BRICs (Brazil, Russia, India, and China), were identified by Goldman Sachs as having the potential to become the world’s largest economies in the 21st century. It has enjoyed more than 6% economic growth in real terms over the last five years as well as substantial improvements in measures of human development. For example, between 1980 and 2006 life expectancy has improved from 48 years to 63 years and literacy rates have improved from 29% to 53%.

Bangladesh is one of the most climate vulnerable countries in the world with a significant proportion of the population living in remote or ecologically fragile areas such as river islands or cyclone prone coastal areas. Two thirds of the country is less than five metres above sea level making it vulnerable to the predicted effects of climate change.

Although Bangladesh is vulnerable to the effects of climate change, it is not itself a significant emitter of carbon dioxide. Per capita carbon dioxide emissions (0.3t/capita) are substantially below other countries in the region (Pakistan 0.9t/capita, India 1.4t/capita, China 4.9t/capita) which themselves are substantially less than emissions from developed countries (UK 8.9t/capita, USA 18.9t/capita). Even with the addition of the 4,000MW of electricity capacity which Phulbari coal could support, Bangladesh would still be one of the lowest emitters of carbon dioxide in the world, substantially less per capita than its neighbouring countries.


http://www.gcmplc.com/

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Minesite:

Global Coal Management (AIM: GCM) saw its shares jump 30 per cent to 157.25p. There was nothing concrete behind the move, but perhaps a rumour is doing the rounds that circumstances in Bangladesh as regards the Phulbari coal project are set to improve. Global Coal Management was formerly known as Asia Energy, but its shares plunged last year when the status of its involvement in Phulbari was called into question by a representative of the Bangladeshi government. Since changing its name, the company has begun to make investments elsewhere, one in AIM-listed GVM Metals and another in a Bangladeshi telecommunications group. Maybe another significant investment is on the cards.

perhaps just living up to my handle, but i see nothing in the above to make me rush in to buy after last week's surge - e.g "nothing concrete"; "perhaps a rumour"; "maybe" ....... if you already hold, that is a different matter, but i also get concerned when companies move away from their core biz, as indicated above.

topped up alot at 87 and in the mid 90s so very pleased, I think Darradev is right as they are supporting the local economy, this Might help them win over the government in there main aim, if that Does happen then we will see a return to the dizzy hights it was at or higher !! But if Not there new investments could well support the sp I got in at so IMHO well worth the risk :) But could be interesting times ahead !! may be one to watch Cynic !

possibly, but shall try very hard to reduce rather than increase any exposure, certainly over next week(s) ..... big regret is selling SCHE last week, since when it has gone up by another 10% with a good write-up in Sunday Times today

5 March 2007
The Bangladesh Nationalist Party (BNP), led by the most recent prime minister Begum Khaleda Zia, said it wanted the election held by July 11, six months after a state of emergency was declared.

But its rival the Awami League, led by Sheikh Hasina, Khaleda's predecessor in power, said the poll should be held by June.

The Awami League did not give a reason for the time of its choice, but analysts said it was probably to avoid the storm season that usually hits around late June or early July.

Both the BNP and Awami League conveyed their choices to the Election Commission, which said it could not start preparations for the vote until the army-backed interim government had set a date.

Bangladesh has been under a state of emergency since January 11 imposed following weeks of countrywide violence mostly between activists of the two parties.

The election, originally planned for January 22, was postponed amid political chaos.

All political activities except for indoor meetings are banned under the emergency rule.

Since the rule was invoked, security forces have arrested more than 150 politicians, including former ministers.

June/July could Prove very interesting for GCM, phulbari Coal is needed and it is in the countrys own best interest... That is for sure !! Lets Hope GCM and the New government can come to an agreement which benefits both parties and the people of Phulbari !

they well TRUST ME

Kedar I hope so ... ajcc, it held up reasonably well today I thought. Should they drop back will probably top up !! but I think it will hover around 120/150 but who knows if a sniff of news appears !!!!! mind you should they get the go ahead 150 is cheep !!!!!! :)

true smiler - we need something concrete....

Global Coal Management PLC
08 March 2007

THE FOLLOWING ANNOUNCEMENT REPLACES THE WEB ADDRESS CHANGE ANNOUNCEMENT RELEASED
TODAY AT 11:05 UNDER RNS NO. 5809S AS THE WEB ADDRESS PREVIOUSLY STATED WAS
INCORRECT



Global Coal Management plc ('the Company')

Web address change



Global Coal Management announces a change in the Company's web address. This has
now changed to
www.gcmplc.com

good to see some buying at 162 aj :)

yes smiler - up and down like a yo yo... i'm not sure if the MMs know what value to put on this share...

LONDON (AFX) - Coal and minerals processor GVM Metals Ltd said it swung to first-half pretax profit of 1.8 mln aud from a loss of 8,610 aud on a total revenue of 26.5 mln aud compared with 15.2 mln aud year ago.

It made a net profit in the period to end-December of 912,368 aud compared with a loss of 141,447 aud previously.

GVM has placed 12.2 mln shares to raise 6.1 mln aud with Global Coal Management PLC, previously Asia Energy PLC.

The company said cash at the end of the half year was 10.7 mln aud, compared with 985,333 aud as at June 30 2006.

newsdesk@afxnews.com

A tic up to day aj !! you see the news on acu well in profit now ! :)) may have to start a thread

Smiler - yes it seems to do the trick!!

Global Coal Management PLC
14 March 2007

Global Coal Management plc ('the Company')


Notification of Significant Holding



Under the FSA Disclosure and Transparency rules DTR 5, the following information falls to be disclosed:

The Company was notified on 12 March 2007 that UBS AG and its subsidiary companies have acquired a further interest in
the shares of the Company resulting in a total holding of 5,690,393 Ordinary Shares of 10p each in the Company. This
represents 11.67% of the issued share capital of the Company.

Global Coal Management PLC
14 March 2007

Global Coal Management PLC ('the Company')

Notification of Significant Holding



Under the FSA Disclosure and Transparency rules DTR 5, the following information
falls to be disclosed:

The Company was notified on 12 March 2007 that Fidelity International Limited
and its direct and indirect subsidiaries along with Fidelity Management Research
Company and its direct and indirect subsidiaries, have an interest in the shares
of the Company resulting in a total holding of 2,917,051 Ordinary Shares of 10p
each in the Company. This represents 5.98% of the issued share capital of the
Company.

Tata official in talks to revive Bangla investment plans
14 March 2007
Mumbai: The Tata Group has renewed its efforts to put its proposed $3-billion investment projects in Bangladesh back on track. Tata Group's resident director Manzer Hossain met the communications adviser M A Matin to gauge the mind of the caretaker government regarding its proposal. He also discussed the latest developments related to the Indian conglomerate's proposed investments in the country.
"We are yet to get any indication regarding resumption of talks" on the investment proposals, media reports quoted Manzer as saying.
The adviser is reported to have suggested that the issue be taken up with the relevant ministry.
"The industries ministry is the proper authority to deal with such projects while the government's investment promotion agency, Board of Investment, is the custodian of the review report on Tata's investment proposal," Matin said.
Tata Group had expressed interest in investing in three main projects - a steel unit, a power plant and a fertiliser factory - in Bangladesh in 2003 and offered its final revised proposal in April 2006.
The proposal grew last year into a $3-billion investment plan - more foreign money than has been invested in impoverished Bangladesh since its first full year as a country in 1972 but talks stalled over a failure to agree over the price of natural gas, and country's descent into pre-election political confusion and violence.
Tata wants to set up a steel plant with annual production capacity of 2.4-million tonnes, a urea factory with 1-million tonnes capacity, a 500 MW coal-fired power station and a 1,000 MW gas-fired power plant.
Tata will require 200-million cubic feet of gas per day (mmcfd), Manzer said. Tata also plans to set up two hospitals and two training centres for employees in Bangladesh as part of its welfare programme, he added.
However, the government led by Khaleda Zia's Bangladesh Nationalist Party had postponed its decision on the proposal, leaving it to a popular government after the parliamentary elections to take a final decision. Tata had since stopped work on the project.
The interim government is charged with holding free and fair elections as soon as possible but it has yet to announce a date. An election earlier planned for January 22 was postponed following countrywide political violence that killed 45 people and injured hundreds. Bangladesh has been under a state of emergency since January 11.

Global Coal Management PLC
16 March 2007

GLOBAL COAL MANAGEMENT PLC (Formerly Asia Energy plc) (AIM: GCM)

Interim Report for the six months ended December 31 2006



It has been an exciting period for Global Coal Management plc (GCM). We have
acquired some new additions to the Company's portfolio, whilst witnessing many
dynamic changes in the political and investment climate in Bangladesh.


In January 2007 the Company's name changed to Global Coal Management plc. The
name better reflects the global strategy of the Company and the broadening of
our investment portfolio.


While the political situation in Bangladesh remains uncertain, there is general
optimism in the business community that the current Caretaker Government will
take this opportunity to address the critical issues facing the country today.
This includes the key issue of power supply.


GCM continues to wait for approval from the Government of Bangladesh for the
Phulbari Coal Project's Scheme of Development. We remain committed to work with
the Government to find an acceptable and harmonious way to implement this
exciting Project for the benefit of all stakeholders.


Highlights of the year have been investments in GVM Metals Ltd (GVM) and Peoples
Telecommunications and Information Services Ltd (PeoplesTel) in the latter part
of December 2006 and January 2007.



Results


The Group made a loss of 1,027,000 after tax for the six months to 31 December
2006 (December 2005: loss of 355,000). This includes a one-off charge of
834,000 due to the valuation of options issued during the six months ended 31
December 2006 to comply with the new accounting standard FRS20 Share-Based
Payments. Excluding the impact of this charge, the loss for the six months ended
31 December 2006 is 193,000.


Exploration expenditure for the six months amounted to 1.8 million (December
2005: 3.9 million) as the Group reduced activity while awaiting approval from
the Government of Bangladesh, to proceed with the next stage of the Phulbari
Coal Project.

16.03.07

Under the FSA Disclosure and Transparency rules DTR 5, the following information falls to be disclosed:

The Company was notified on 16 March 2007 that Credit Suisse Securities (Europe) Limited (CSSEL) and its subsidiary companies have an interest in the shares of the Company resulting in a total holding of 1,904,724 Ordinary Shares of 10p each in the Company. This represents 3.91% of the issued share capital of the Company.