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/

"

It's going in the right direction now.

sp not actually doing anything much ..... at what price did you short, or can't you remember?

just picked this up from my reuters link ..... i don't know who these guys are, but certainly not BB pundits!

www.tradingcentral.com/chart/GCMGBp100415093724.gif
Our pivot point is at 190.25.
Our preference: the upside prevails as long as 190.25 is support.
Alternative scenario: below 190.25, expect 139.5 and 109.25.
Comment: the RSI is above 50. The MACD is positive and above its signal line.
The configuration is positive. Moreover, the stock is above its 20 and 50 day
MA (standing respectively at 180.38 and 140.83).

214p ended today...it will weaken to 140p.

because???????
and at what level did you short? ...... you seem very reluctant to remember that

Just trust me if you are willing to short.

why would i or anyone else trust you when you give no logic?

It's your choice.

no kidding .... at least when i make a call, i give some logic even if it is later shot down ..... you just make unsupported statement and ask that to be believed

It's my style. Just watch then if you haven't got the balls.

you don't have style and de facto, no basis for credibility ! ..... it's worse than the glib, "I'm a doctor; trust me"

It would seem that GCM have a number of links with other stocks: POL, CDN, BKY through joint ventures or directors with fingers in many pies, all of these seem to have risen over the past month, therefore I feel this price is less dependant on news from Bangladesh each day.
The drop to 200p earlier brought buyers in and a quick rise back to 220p was achieved, once again I wouldn't want to be out of this over the weekend. GLA

GCM will rise or fall solely on the news from Bangla

Yes, but retracement must now go on down to 180p or a bit lower in the mean time

The Bangla energy conference would have been planned for some time, but it does seem that all coal related stocks are on the move up at the moment, as I have said before this is more about when than if. There is no doubt that the coal is there and bangla's have a power issue. I accept that there is no guarantee GCM would have an interest.

did you not say a few days ago that resolution of this project was meant to be this week?

No, I don't think so, I did post an article from the Times at some point but I don't think that said that either.

post 563 of 9th april is a clue

cynic,I did read on another board that as the Market cap increased over the last few weeks, this would allow certain funds to purchase this stock, from your experience is that true ?

no effect unless stock is upgraded from one index to another - e.g. from AIM to FTSE 250