GCM Resources raises GBP500,000 via direct subscription

GCM Resources plc is a United Kingdom-based mining and energy company. The Company is engaged in the development of the Phulbari Coal and Power Project (the Project) in north-west Bangladesh. The Phulbari Coal and Power Project is located in the Dinajpur District of Northwest Bangladesh, approximately 350 kilometers from the capital, Dhaka, and 10 kilometers from the Indian border. The region is some 30 meters above sea level, relatively flat and comprised of an alluvial plain with slightly raised terraces formed in pre-historic times by the drainage of the sub-Himalayan River systems (the Ganges/Padma and Jamuna rivers). The Phulbari Coal and Power Project’s mine footprint covers an area of 5,193 hectares. Some 80% of the area is open fields under agriculture. The Company’s subsidiaries include South African Coal Limited, Asia Energy Corporation Pty Limited, Asia Energy Corporation (Bangladesh) Pty Limited and Asia Energy (Bangladesh) Pvt Ltd.