GCM Resources PLC Completion of Subscription & Lifting of Suspension
01 Febrero 2024 - 9:39AM
RNS Regulatory News
RNS Number : 7618B
GCM Resources PLC
01 February 2024
1 February 2024
GCM Resources
plc
("GCM" or
the "Company")
(AIM:GCM)
Completion of Subscription
and
Lifting of
Suspension
GCM, an AIM quoted mining and energy
company, announces that, further to the announcement
dated 26 January 2024, the subscription to raise gross
proceeds of £500,000
has been successfully concluded. The
Company has therefore requested the restoration of trading in the
Company's securities on AIM, which is expected to
take place at 7.30am, 2 February 2024, with admission of the subscription shares to follow at
8.00am on 2
February 2024.
The Company will need to carry out
an additional fundraise before the end of
May 2024 to fund its working capital for
the next 12 months.
This announcement contains inside
information as defined in Article 7 of the EU Market Abuse
Regulation No 596/2014 and has been announced in accordance with
the Company's obligations under Article 17 of that
Regulation.
For
further information:
GCM
Resources plc
Keith Fulton
Finance Director
+44 (0) 20 7290 1630
|
WH
Ireland Ltd
James Joyce
James Bavister
Andrew De Andrade
+44 (0) 20 7220 1666
|
|
GCM Resources plc
|
|
|
Tel: +44 (0) 20 7290 1630
|
|
|
info@gcmplc.com;
|
|
|
About GCM Resources
GCM Resources plc (LON:GCM), the AIM
quoted mining and energy company, has identified a high-quality
coal resource of 572 million tonnes (JORC 2004 compliant) at the
Phulbari Coal and Power Project (the "Project") in north-west
Bangladesh.
Utilising the latest highly energy
efficient power generating technology the Phulbari coal mine can
support some 6,600MW. GCM requires approval from the Government of
Bangladesh in order to develop the Project. The Company has a
strategy of linking the Company's mine proposal to supplying coal
to the Government of Bangladesh's existing and in the pipeline
coal-fired power plants and / or power plants developed development
partners. Together with credible, internationally recognised
strategic development partners, GCM aims to deliver a practical
power solution to provide the cheapest coal-fired electricity in
the country, in a manner amenable to the Government of
Bangladesh.
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END
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