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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Guess you are still holding tight to GCM, smiler o...85p now...happy x'mas

I sold at 300p from 90p so yes a happy xmas ! and buying more today to make some more money something your not !!!! and to make a comment like that you must be some kind of muppet...... try doing some research first !


Aura extend African exploration alliance

10th September 2008, 11:45 WST

WA uranium explorer Aura Energy has signed a deal with London-listed GCM Resources to extend their Africa-focused exploration alliance for one year, after funds ran out.



In an announcement, Aura said the joint venture had exceeded its initial two-year budget of $800,000 in the first year, leading the companies to pour a further $600,000 into the project.



Under the deal, established between the two firms in April 2007, Aura pooled its project identification and acquisition experience with the project evaluation, financing and mining expertise of GCM to search for uranium targets in Niger and Mauritania.



The alliance had been granted three exploration licences, it said, with a further 11 applications in Mauritania and three exploration permits in Niger, but the firms wanted to explore further.



The companies will intensify and extend their search for uranium across the continent.

Go on smiler you tell him

flasher this share is not for the faint harted we are dealing with Bangladesh and of late has taken a tumble due to delays in the policy now poss September and of course the general market !! , I still remain hopefull as the coal has to come out the ground at some point, and I have bought and sold a few times over the last year and at this price well worth a top up for me : )

yep it will happen just not yet i think the new government will be in before the project gets the go ahead sold out early 2007 may buy back soon, money to be made here.

Coal industry is destroying the environment...


US scientists say Britain's new generation of coal-fired power stations would undermine climate change efforts.

The British government will lose its leadership position on climate change and risk scuppering a global deal to cut emissions if it presses ahead with a new generation of dirty coal power, say leading US scientists and environmental leaders.

The heads of three influential groups, representing more than 2 million members, have written to the foreign secretary, David Miliband, warning that the UK proposals for up to eight new coal plants threatens the chance of the US joining a post-Kyoto international agreement to be agreed in 2009.

It is the first public sign of growing international anger over the plans and will add to pressure on Miliband and the environment secretary, Hilary Benn, to oppose the government's new coal policy in cabinet. Most immediate is the decision on whether to approve the first major planning application for a new coal plant at Kingsnorth in Kent, the site of this month's Climate Camp protest.

In the UK, there has already been heavy criticism of the plans to build new coal plants, without technology to capture and bury the large volumes of carbon dioxide emitted. Lord Smith, the new head of the government's Environment Agency, recently added forcefully to condemnations by the Environmental Audit Committee, the Royal Society, City investment groups, the government's environmental advisor Jonathon Porritt, former chief scientist Professor Sir David King, and the Institute for Public Policy Research think-tank.

The letter, now revealed to the Guardian, is signed by the heads of the Sierra Club, the Union of Concerned Scientists and the Natural Resources Defense Council. It argues Britain is in a particularly important position because of "your government's historic commitment to lead on global warming in Europe and around the world."

It adds: "As proposed, these conventional coal plants lack any limits on their emissions of carbon dioxide and would drastically increase the UK's carbon dioxide emissions and make achievement of your stated pollution reduction goals extraordinarily difficult, if not impossible. Building new conventional plants and setting the UK up to fail and lose its leadership mantle will make our work in the US all the more difficult."

Tim Jones, climate policy officer for the World Development Movement anti-poverty campaign group, said the concern was shared across the developing world, especially where emerging environment campaigns are arguing for much poorer nations to cut emissions, and rich countries like the UK are being blamed for changes such as typhoons, drought and rising sea levels.

"They can adapt to one to two degrees of warming, but if it's more than that they can't adapt; they are just filled with despair," said Jones.

British officials and ministers are understood to have already been challenged over plans for unabated coal power by other governments.

The US intervention - signed by Carl Pope, the Sierra Club's executive director, Kevin Knobloch, the UCS president, and Frances G Beinecke, the NRDC director follows an unprecedented campaign against new coal power in the US which has led to 66 of a proposed 150 new plants being abandoned or rejected by politicians and the courts, and most of the remainder locked in legal battles.

But although the two main candidates for the US presidential election in November, John McCain and Barack Obama, have both declared their support for international emissions cuts, campaigners warn that any deal would also have to be approved by Congress, which would need to know there was public support for such a move, particularly during a recession.

'If the UK takes a firm stand and rejects conventional coal it will send a strong, clear message to our new President and a new Congress, as well as to other countries considering new coal plants,' the letter adds.

Replying for the British government, the energy minister at DBERR, Malcolm Wicks, said "as a 'live' planning case I cannot comment on the merits or otherwiseor on the timing of any decision".

In a Guardian interview earlier this month, Wicks widened the government's argument in favour of coal, saying that new power stations were not just essential for energy security but also to allow the development of carbon capture and storage technology. Without that technology, "all is lost on global warming", he said, because of China's reliance on the fuel. "The idea that if we showed some kind of lead and we in Britain say no to coal and China will say 'OK we will follow' is just daft," he said. Green campaigners reject the idea that CCS cannot be developed without new, unabated power stations.

A recent report by the IPPR said the European Union's goal of reducing emissions from the power sector and heavy industry through its emissions trading scheme would collapse if the go-ahead were given to seven new coal plants in the UK and up to 75 across Europe

If you want to post old news like that there is a COAL thread Thanks.. " , pejorative "

Ex-Bangladesh PM freed, says party will contest polls
13 hours ago

DHAKA (AFP) Ex-Bangladesh leader Khaleda Zia was freed after a year in prison on corruption charges Thursday and immediately said her party would contest elections to restore democracy in the emergency-ruled country.

The former prime minister, who had been detained since last September, was released on bail as part of efforts to end nearly two years of political limbo in one of the world's poorest nations.

"If there is a free and fair election, the BNP (Bangladesh Nationalist Party) will come to power with the mandate of the common people," a tearful Zia told reporters.

"The BNP is a democracy-orientated party so, for the sake of democracy, we will join in the dialogue to plan for elections."

Her release -- with graft charges still in place -- was widely seen as a deal with the army-backed government in exchange for the participation of the BNP in the polls, which will end nearly two years of emergency rule.

The BNP's involvement is seen as crucial for the success of the elections, as the army-backed government seeks to relinquish power.

Zia, 63, visited the grave of her husband, slain president Ziaur Rahman, immediately after she was released.

She then headed to the hospital where her son Tareque Rahman -- also accused of graft and bailed last week -- is being treated for injuries he says he suffered while being tortured in custody.

Thousands of supporters gathered outside the prison, the cemetery and hospital to greet Zia, dressed in a white sari.

Her son Rahman has been issued a British visa and could fly to London for treatment for a spinal injury as early as Thursday evening, lawyer Nadir Uddin Amir said.

Zia said Rahman would return to politics when he made a full recovery, which may take two or three years.

The government wants Zia to also travel abroad for medical treatment for her arthritic knee, but she does not want to leave Bangladesh.

She faces charges in four cases of corruption and misuse of power dating back to her two stints as premier from 1991-1996 and 2001-2006, including in the awarding of state contracts. No trial dates have been set.

Although the government wants Bangladesh's major parties to take part in the polls, observers say it hopes to prevent Zia from returning to office.

"They will involve Zia and the BNP in the election agenda but there is still the veiled threat that she and her sons are on bail. It's not explicit but it's still there," Dhaka University politics professor Ataur Rahman said.

Zia and her arch-rival, fellow ex-premier Sheikh Hasina Wajed of the Awami League party are both blamed for rampant corruption and Bangladesh's political meltdown that prompted the declaration of a state of emergency in January 2007.

That crisis saw the Awami League accuse the BNP of trying to rig elections, and weeks of strikes and violent protests brought the country to a standstill, prompting the army's intervention.

Since then, the emergency government has tried clean up Bangladesh's notoriously dysfunctional political system, including creating a new voter list, eliminating 12.7 million fake voters.

Sheikh Hasina was freed by the government in June and is in the United States in what is seen as a form of exile.

Bangladesh is so corrupted that GCM is going to bury in it.

I did get SOME MORE ajcc at 87 so in profit already ; )

72p and more downtrend to go for GCM.

As 90% of stocks at the moment ! pejorative

yep smiler nuts market eh? have nibbled at this in 3 lots 90p, 79p and lastly 69p. nothing big just slowly building my stake back up to benefit from the next rise (it will come back...)

how's flasher?

Still in HBOS finger ready

RNS Number : 6963D
GCM Resources PLC
18 September 2008



GCM RESOURCES PLC

(AIM: GCM)




PRELIMINARY ANNOUNCEMENT OF THE RESULTS

FOR THE YEAR ENDED 30 JUNE 2008




GCM Resources (GCM) is committed to the Phulbari Coal Project in Bangladesh, the development of which is awaiting approval from the Bangladeshi Government. Over the year, the draft Coal Policy, which will set the direction for the country's coal sector development, continued to be reviewed by relevant departments of the Bangladeshi Government. Given the importance of this in the development of the Bangladeshi economy, the agreement of the draft Coal Policy remains high on the political agenda.




While GCM continues to work with the Government and people of Bangladesh to prepare for the development phase of the Phulbari Coal Project, the Company continues to review investments in other related opportunities around the world. In addition to the investment in Coal of Africa which was acquired in June 2007, GCM now also has investments in Aura Energy Ltd and Regent Pacific Group.




Through all its investments, GCM aims to help bring about further economic and social development for all stakeholders. It aims to do this in a safe and sustainable way, paying full regard to the interests and concerns of local communities and the environment in which it operates.




KEY DEVELOPMENTS




GCM continued to work closely with all stakeholders as the Company waits to proceed with the development stage of the Phulbari Coal Project;




GCM increased its strategic investment in Peoples Telecommunications and Information Services Ltd (PeoplesTel), now holding 37% of the enlarged capital of the company, up from 26.5% ;




GCM accepted Regent Pacific Group Ltd's (RPG) share offer for the whole share capital of CCEC Ltd in respect of its 6% holding in CCEC Ltd. GCM now holds 2% of RPG;




GCM purchased 13% of the capital of Aura Energy Ltd (Aura). Aura has uranium exploration interests in Sweden, West Africa and Australia. The Aura / GCM Africa Alliance grew as it was granted three uranium exploration licence areas in Mauritania. There are 11 further licences pending in Mauritania and three in Niger;




GCM's investment in Coal of Africa Ltd (previously GVM Metals) has substantially increased in value from a cost of 4.8 million in December 2006;




Polo Resources acquired 29.72% of the share capital of GCM on 25 March 2008 as it expanded its interests in strategically located coal projects;




In December 2007 the Company changed its name to GCM Resources plc to remain consistent with the Company's strategy and corporate branding.




Transition to International Financial Reporting Standards (IFRS)




GCM is reporting preliminary results for the year ended 30 June 2008 in accordance with International Financial Reporting Standards (IFRS) for the first time and so the results for the year ended 30 June 2007 in this report are also reported in accordance with IFRS. The impact of the transition from UK GAAP to IFRS was detailed in the 2007 Annual Report.




Results




The Group made a profit of 864,000 after tax for the twelve months to 30 June 2008 (June 2007: loss of 923,000). The profit was primarily due to the gain made on disposal of GCM's interest in CCEC Ltd, when Regent Pacific Group acquired the whole share capital of CCEC Ltd.




Exploration expenditure relating to the Phulbari Coal Project amounted to 2,494,000 for the twelve months to 30 June 2008 (June 2007: 3,286,000).




The Income Statements, Statement of Changes in Equity, Balance Sheet and Cash Flow are presented on the following pages.


http://moneyam.uk-wire.com/cgi-bin/articles/200809180700086963D.html

Everything is going up but not GCM.

jfhfhfy8y78yyhfhf98g

59p now and still going down...investment in Bangladesh is very risky especially when corruption is rampant.

yep A bargain at this price !! : )))) money to be made Love it !!