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/

"

MORE ABSOLUTE FANTASTIC NEWS
MY CONTACTS HAS GIVEN ME A DATE FOR THE GO AHEAD,IT WILL BE ANY DAY BETWEEN MAY THE 21st-30th..I HOPE THIER RIGHT..

in one breath you imply that the "news" is from an unimpeachable source, and in the next you (like everyone else here) question its parenthood!

is this info as accurate as the crap you gave out on 18th april - "give the go ahead this week"!?

GCM is on the way back down.

Kedar has really good information, huh? 170p now.

On a steep slope downwards.

looks that way but just a little hot air and up it goes good one to trade hlyeo ?, as for post 621 I would not bet on it !!

Back to 50p in a couple of weeks I guess

ministers are leaking info to the media that phulbari is ready to go!!my contact informs me that the coal policy is now finaly complete and will be the main topic of the national budget day..he says the govt will give the greenlight after the budget day,within a couple of weeks after..

keep giving dates often enough, and one day you may get it right

cynic we doubt if the bengalis will ever make up their minds.

my contacts informs me that the govt has already approved open surfice mining,and are now engaged in a PR spin in selling it to the people..he says statements made to the media will be more dominant over the next coming days leading up to the national budget day, where they will finaly approve the long awaited coal policy and will also confirmed and fully endorse the open pit methods of mining....the info i'm recieving and the source of which I guarantee is geniune and reliable..I am fully convinced this time this is coming to a head and at last too..As this company is a news driven one i think the shareprice will start to move up from here..best of luck to everybody!!

kedar - without wishing to sound entirely churlish, you have voiced similarly views several times in the past, and the end result was total claptrap

That was mild for you Cynic : ) but True ......... This would Have moved a lot more if there was a sniff of a go ahead .... just hang in threr if your holding it does go up and down like a yo yo !! and if you call it right you can make a few quid still

Watch this space !! in auction now, will it go up today? I have know idea, but I have this stock on my screen everyday and I am sure somethings going on today, Good luck all.

rubbish .... it's just got a whopping 12p notional spread with 3x as many sellers as buyers and joke volume

Thank you for those kind words, not quite sure which bit is rubbish, it was in auction.

probably between 11:14:00 and 11:14:30 if at all
currently 19p spread

10.50 buys went through at 195 which is high for this week, my post just draws to the attention of others that the price seems to be rising for no apparent reason.
As I stated I have know idea what is going on but the activity seemed unusual.

There seems to have been a press release of a speech by the bangla Gov just been released according to another board (yes that could be rubbish, I'm just telling you what the posts say).

http://www.mof.gov.bd/en/budget/10_11/budget_speech/10_11_en.pdf?phpMyAdmin=GqNisTr562C5oxdV%2CEruqlWwoM5