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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schools out !!

It's even better on ADVFN

Motoring today, good for my PRL.

cyril

Wakey Wakey.

cyril

http://www.energybangla.com/index.php?mod=article&cat=EBReport&article=1640

cyril

Aye Glad I still have a few ; )

http://moneyam.uk-wire.com/cgi-bin/articles/200906041135003726T.html

GCM early buys pushing this up

high volume today, I think this one is about to head north very fast.

Aye, One to watch , have been in and out of GCM for a Few years Now, Nice tic up from 30p Though !! But still you Have to watch this one Its Had its Moments & still a way to go, But you never know !! ;)

wowowowo wow - no news flow.?

Moving up again, good start to the week.

Trades showing as far higher than bid, 119 trade, 110 bid.

Now 140, breakout I believe ?

This seems to be trying to take off again today, but no obvious reason for the move, certainly a punt rather than an investment. Massive upside if Bangladesh government give the go ahead to mine. Staying in for now.

Aye that it will !

RNS Number : 4229V
GCM Resources PLC
09 July 2009

















TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi






1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached: ii
GCM Resources

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights
X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached


An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments


An event changing the breakdown of voting rights


Other (please specify):




3. Full name of person(s) subject to the
notification obligation: iii
HSBC Holdings Plc

4. Full name of shareholder(s)
(if different from 3.):iv
HSBC Bank Plc

5. Date of the transaction and date on
which the threshold is crossed or
reached: v
8th July 2009

6. Date on which issuer notified:
9th July 2009

7. Threshold(s) that is/are crossed or
reached: vi, vii
From 10 % to 9%





8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares


if possible using
the ISIN CODE
Situation previous
to the triggering
transaction
Resulting situation after the triggering transaction

Number
of
Shares
Number
of
Voting
Rights
Number
of shares
Number of voting
rights
% of voting rights x

Direct
Direct xi
Indirect xii
Direct
Indirect

GB00B00KV284
5,133,280
5,133,280
4,879,230
4,879,230
N/A
9.55%
N/A




B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument
Expiration
date xiii
Exercise/
Conversion Period xiv
Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.
% of voting
rights















C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument
Exercise price
Expiration date xvii
Exercise/
Conversion period xviii
Number of voting rights instrument refers to



% of voting rights xix, xx

















Nominal
Delta









Total (A+B+C)

Number of voting rights
Percentage of voting rights

4,879,230
9.55%





9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi




N/A




Proxy Voting:

10. Name of the proxy holder:
N/A

11. Number of voting rights proxy holder will cease
to hold:
N/A

12. Date on which proxy holder will cease to hold
voting rights:
N/A





13. Additional information:

None

14. Contact name:
Richard Brimelow

15. Contact telephone number:
0207 290 1630

mentioned this before when the interim govt were running office that they will implement phulbari go-ahead and award it to gcm,was informed of this by a bangla army commander,the information eventually turned out wrong,and the excuse given to me was that they were on the verge of inforceing this plan but however decided not to and thought it better to wait for an elected govt to make this decision.This was round about july of last year.now however this commander has again assurd me that the hasina led al awami are definately gonna grant the go-ahead either in this month or the middle of next month as bangladesh has to get phulbari moving asap for its own survival.this is what ive been told by a very close friend of mine whos a relative of this commander.I personaly im not holding my breath but the friend of mine is however totally confident and doesant doubt the commanders honesty or integrity and is recently buying like crazy at the mo,me i must admit i have topped up a little but still have the same amount of shares from the last time,so still have a good few.This time i hope the guys right because this is turning out to be a bit of a joke now,its just dragged on for far to long.Anyway this is what ive been told but good luck to all holders and lets hope the good old commander proves right this time.. all the best

Possible news leak, up 20% at the moment, when this one moves it has been known to fly, then spend the next few months falling back.

30% up, last trade 90p