Global Coal Management

http://www.gcmplc.com/about/company_details.php

I posted just over a week ago that this was in the 'recovery position' waiting to get the life kicked back into it and by good fortune for a change I bought shares and not just watched them like I often do. I now have a 28% profit on them. They are up 11.29% today (as at 14.53).

It appears that GVM which Global Coal Management own 18.38% already, has placed 12.2 mln shares to raise 6.1 mln aud with Global Coal Management PLC, previously Asia Energy PLC.

GVM Metals Ltd had a first-half pretax profit of 1.8 mln aud from a loss of 8,610 aud on a total revenue of 26.5 mln aud compared with 15.2 mln aud year ago.

It made a net profit in the period to end-December of 912,368 aud compared with a loss of 141,447 aud previously.