Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
GCM Resources ( (GB:GCM) ) has provided an announcement.
GCM Resources has renewed its consulting agreement with DG Infratech to secure government approval for the Phulbari Coal and Power Project in Bangladesh. The agreement, extended until December 2025, also includes a new solar power project. As part of the deal, GCM will issue new shares to DGI as fees, contingent on project milestones, which will impact company operations by potentially increasing its share capital and positioning it strategically in the energy sector. This development could influence stakeholders by reinforcing GCM’s commitment to integrating coal and renewable energy solutions in Bangladesh.
More about GCM Resources
GCM Resources plc is an AIM-traded mining and energy company focused on developing a high-quality coal resource of 572 million tonnes at the Phulbari Coal and Power Project in north-west Bangladesh. The company aims to utilize energy-efficient power generation technology to support 6,600MW of power. GCM’s strategy involves linking its coal supply to Bangladesh’s power plants, in cooperation with strategic development partners, to provide cost-effective coal-fired electricity.
YTD Price Performance: -24.32%
Average Trading Volume: 469,264
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £4.72M
For an in-depth examination of GCM stock, go to TipRanks’ Stock Analysis page.
