Global Coal Management
WELL....... Due to having a very busy week doing other things, I never did get back to updating the blog on GCM.L. Did any of you have a look at it yourselves though?
I did buy 500 shares because I did think of it as a recovery stock, but even I didn't think a recovery might be within a week....or at least the start of one. For some reason it suddenly jumped 49.25 pence or 38.3% running into Fridays close or maybe it was after the close ready for Mondays opening. I don't know cause I wasn't watching it.
I'm going to have a dig around now.....and I will definitely update this time.
In the meantime heres some company info from GOOGLE FINANCE page
http://finance.google.com/finance?q=SEA:GCM
BACK............
It appears the sudden rise could have to do with the elections mentioned in the main page of the company website as below.
http://www.asia-energy.com/
Global Coal Management Plc (formerly Asia Energy PLC) is a London-based AIM quoted company whose primary activity is the development of the coal basin at Phulbari in Northwest Bangladesh into a world-class open pit coal mine. Ticker symbol: GCM
Its objective is to start mining activity once it has Government of Bangladesh approval for its Scheme of Development, following the Government election in early 2007. The project will adhere to the highest national and international environmental and social standards. At full production, the mine will produce 15 million tonnes a year of mostly export quality metallurgical and thermal coal.
Phulbari Project -http://www.asia-energy.com/project.php
Coal was first discovered at Phulbari in Northwest Bangladesh during surveying and drilling between 1994 -1997 by the Australian mining company BHP, which entered into licensing and investment agreements with the Government of Bangladesh. These agreements were assigned to Asia Energy Corporation (Bangladesh) Pty Ltd in 1998.
The Resource
The estimated in-situ coal resource in accordance with the JORC Code:
Category Tonnes (millions)
Measured 288
Indicated 244
Inferred 40
Total 572
............
Strategic Investment in Bangladesh’s Leading PSTN Operator providing Fixed, Wireless Loop, Data and Internet Service
22.01.07
Global Coal Management plc (“GCM”), formerly Asia Energy Plc, (AIM: GCM) announces it has signed a Memorandum of Understanding (“MOU”) to make a further strategic investment in Bangladesh by subscribing for 26.5% of the equity in Peoples Telecom and Information Services Ltd (”PeoplesTel”). The US$5 million investment is subject to the approval of the Bangladesh Board of Investment (“BOI”).
GCM has identified PeoplesTel as an exciting investment opportunity which also brings significant benefits to the development of the Phulbari Coal Project (“the Project”) by ensuring that modern and extensive telecommunication networks and infrastructure are in place across all areas (mine site, transport corridor, port operations etc.) of the Project.
Steve Bywater, Global Coal Management's CEO commented:
"I am delighted with this investment in PeoplesTel. It demonstrates our strong desire to play a positive role in the development of Bangladesh's economic infrastructure and is entirely consistent with our long term commitment to Bangladesh. It will also ensure that we have a world class telecoms infrastructure for the Phulbari Coal Project. We remain focused on implementing the Phulbari Coal Project.”
PeoplesTel, an established Bangladesh fixed line telephone operator since 1989, is currently undertaking a rapid expansion plan. In excess of US$15 million has been invested to date by PeoplesTel’s existing shareholders, including the founder of the company Tim Nurun Nabi. Mr Nabi has also founded a number of successful enterprises in Bangladesh, including Hayes (Bangladesh) Limited and Hayes-Haier Appliances Company Limited, which is a joint venture with Haier of China, the largest manufacturer of white goods in China.
PeoplesTel’s expansion plan for the next 5 years is to provide world class voice and data services across Bangladesh, targeting 1 million new subscribers and focusing on the developing rural regions. PeoplesTel has BOI approval to invest up to US$379 million of domestic and foreign investment to provide fixed line or wireless telephone connections in Bangladesh. This gives PeoplesTel the ability to grow rapidly by reinvesting cash flow without needing further Government approvals.
The US$5 million investment will be used by PeoplesTel to acquire the capital equipment (primarily handsets and electronic switching devices) to add a further 55,000 fixed line and wireless loop subscribers to the network. This will significantly increase the company’s turn-over and cash flow positions and allow PeoplesTel to continue to expand its network, services and subscribers. The network currently being completed is able to handle approximately 1 million subscribers without the need for additional major infrastructure to be installed.
Currently, PeoplesTel has 120 operational exchanges throughout all 4 regions (North West, North East, South West and South East) of the country and an additional 23 CDMA 2000 1X 450 MHZ WLL BTS have been integrated into the network in December 2006. PeoplesTel currently employs over 280 people.
PeoplesTel is strategically positioned to secure a license for Dhaka City (expected to be issued in 2007). It owns the largest range of wireless spectrum of any operator in Bangladesh, including the valuable 3G compliant 450MHz spectrum, and has recently secured a VoIP License.
PeoplesTel, having recently completed a 17km fibre optic ring around Dhaka City, has full interconnect agreements in place with the major cellular operators and fixed line operators, including the government owned BTTB. These companies collectively access approximately 15 million subscribers. PeoplesTel has leased an additional 208km fibre optic backbone to connect to the densely populated (approximately 7 million people), and high GDP generating, region of Chittagong.
For Further Information:
Steve Bywater Chief Executive Ph: +44 (0)207 290 1630
Graham Taggart Finance Director Ph: +44 (0)207 290 1630
Cathy Malins or Annabel Leather Parkgreen Communications Ph: +44 (0)207 851 7480
Notes to editors:
Global Coal Management plc:
Global Coal Management (formerly Asia Energy plc) is a London based company quoted on the London Stock Exchange’s Alternative Investment Market (“AIM”). The Company’s primary activity is the development of the Phulbari Coal Project in Northwest Bangladesh into a world class open pit mine, adhering to the highest national and international environmental and social standards. The mine will have a life of more than 30 years and at full capacity will produce 15 million tonnes a year of mostly export quality metallurgical and thermal coal. Its objective is to start mining activity once it has Government of Bangladesh approval for the Scheme of Development, following the Government election in 2007.
For further information: www.asia-energy.com
Peoples Telecommunication & Information Services Ltd:
PeoplesTel has a licence to operate fixed, wireless local loop along with voice data, image and all forms of telecommunication services in Bangladesh. PeoplesTel has been in operation since 1989 as rural operator and converted to a national operator since 2005.
PeoplesTel has a huge network covering Bangladesh. PeoplesTel has over 6000 KM of Microwave links covering all the major cities of Bangladesh. PeoplesTel has already installed four gateway switches, 120 local switches, 3 BSC, 34 BTS with the latest CDMA 2001X 450 MHZ dual carrier state of the art wireless local loop services. PeoplesTel has the necessary human resources to implement its expansion plan and provide a consistently high standard of service.
For further information www.ptelco.net
Further investment in GVM Metals Limited - 31.01.07
Global Coal Management plc announces that on 30 January 2007 it acquired a further 4,000,000 shares in GVM Metals Limited at a cost of approximately £890,000 and that it now holds an interest of 16,200,000 shares, 17.32% of the issued share capital of GVM Metals Limited.
Notification of significant holding - 15.02.07
The Company was notified on 13th February 2007 that Liberty Square Asset Management acquired an interest in the shares of the Company resulting in a total holding of 2,530,000 Ordinary Shares of 10p each in the Company. This represents 5.19% of the issued share capital of the Company.
OK well I think that gives an idea of where they're at just now. Just have to see if they do revocer back to the heady heights of £9.00 plus.
