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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hyloe, will you be buying some if it does ? I certainly will have another small top up. I know I have too many eggs in one basket already but at 140p I don't think i could resist. When this hit 300p last week on no news, it was worth the wait.
I can't imagine what price these will be with positive news. GLA

Continues to weaken...shorting it.

it would be good and arguably helpful if just once in a while you posted some sort of logic to your comments

in my opinion, this is a pretty scary share to deal in either direction as the spread is very wide
the positive has already been voiced
the negative is arguably that trading was very heavy indeed yesterday, and sp tumbled .... that could mean that someone is unloading a stack on inside knowledge

so how many did you short hyleo and at what price?

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an hour later ...... i think hyleo has developed lockjaw and writer's cramp!

This is the first day for a while that we have not had what I would call the mid morning shake, and consequently the volume is a lot lower. Having watched this for far too many hours recently, it feels like the calm before the storm. 235p now.

for what it is worth, about 8m traded yesterday from memory against a norm of 400k ..... so far today just 350k

Spread seems a lot less at the moment, but that does fluctuate through the day, 230/232 now.

I'm not worried... I don't stick here all day looking for the slightest movement.

I think cynic is cross-eyed by now.

Is that a secret code for "I may of picked the wrong day to short this stock".

Could of been worse you could of shorted XPP the stock I didn't buy last week that has now gone up 25% in a couple of day's. doh!

do i hear sour grapes? .... i happen to be in front of a pc all day and every day, so very easy to keep my stock positions current

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.