GCM Resources PLC
08 April 2008
8 April 2008
GCM RESOURCES PLC
('GCM Resources' or the 'Company')
Share Price Movement
GCM Resources plc (AIM: GCM) has noted the recent press comment referring to the
Asian Development Bank and the Phulbari Coal Project in Bangladesh.
The Phulbari Coal Project is currently being reviewed by the Government of
Bangladesh, and GCM Resources continues to await Scheme of Development approval.
The financing arrangements for the project (equity and debt) will be finalised
once project approval has been received.
The Asian Development Bank has been undertaking due diligence for its possible
participation in the Phulbari Coal Project. GCM Resources has not received any
recent communication from the Asian Development Bank regarding their
participation.
For further information contact:
GCM Resources plc: Pelham Public Relations:
Steve Bywater Charles Vivian
Chief Executive Ph: +44 (0)207 743 6672
Ph: +44 (0)207 290 1630 Email: charles.vivian@pelhampr.com
Graham Taggart Klara Kaczmarek
Finance Director Ph: +44 (0)203 159 4395
Ph: +44 (0)207 290 1630 Email: klara.kaczmarek@pelhampr.com
JP Morgan Cazenove
Nominated Advisor
Michael Wentworth-Stanley
Ph: +44 (0)207 588 2828
Charlotte Keenan
Ph: +44 (0)207 588 2828
Notes to Editors:
About GCM Resources plc:
GCM Resources plc is a London based company quoted on the London Stock
Exchange's Alternative Investment Market ('AIM'). The Company is strategically
focused on coal and related investments across a range of geographical locations
including: South Africa, Bangladesh and China with the aim of sourcing potential
opportunities that offer near return whilst mitigating risk through the
development of a diverse portfolio of assets. Primarily focused on the
exploration and development of coal deposits the Company also targets related
infrastructure such as power plants and telecommunications networks to build on
related areas of the coal mining industry and support local development.
For further information: www.gcmplc.com
This information is provided by RNS
The company news service from the London Stock Exchange