TIDMGCM

RNS Number : 6194M

GCM Resources PLC

22 January 2021

GCM Resources plc

("GCM" or the "Company")

Appointment of Director

GCM Resources plc (LON: GCM), an AIM quoted mining and energy company , is pleased to announce the appointment of Mr. Gary Lye to the board as an Executive Director with immediate effect.

Mr. Lye is currently the Chief Operating Officer of GCM and Chief Executive Officer of GCM's subsidiary, Asia Energy Corporation (Bangladesh) Pty Ltd. He has been with the Phulbari Coal and Power Project (the Project) since January 2004 and led the exploration programme and Feasibility Study. He is a qualified geologist and geotechnical engineer with a Master's Degree in Rock Mechanics from the Royal School of Mines, London and a Diploma of the Imperial College (DIC), London and has over 45 years' international experience in the mining industry. Gary previously held senior mining positions with several leading mining companies. This included roles as Strategic Mine Development Manager with Kalgoorlie Consolidated Gold Mines at their Super Pit operations in Kalgoorlie, Western Australia, and as Manager of Mining Research for CRA in Perth, Western Australia.

The CEO of GCM, Datuk Michael Tang PJN, stated :

"I would like welcome Gary's appointment to enhance the functionality of the Board and with his wealth of experience and knowledge of GCM's history, the Project and working in Bangladesh, he will continue to be a valuable asset to the future of the Company and Project"

Further information in relation to the appointments of Mr. Gary Lye pursuant to paragraph (g) of Schedule Two or the AIM Rules for Companies appears below.

 
 Current Directorships / Partnerships   Past Directorships / Partnerships 
                                         (last five years) 
 Asia Energy Corporation (Bangladesh)   Polo Resources Limited 
  Pty Limited 
  Asia Energy (Bangladesh) Pte 
  Limited 
  Asia Energy Corporation Pty Limited

Mr. Gary Normal Lye (aged 67) holds options over 825,000 ordinary shares in the Company exercisable at 11 pence each with expiry 31/5/24. He has confirmed that there is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules.

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.

For further information:

 
 
   GCM Resources plc              WH Ireland Ltd 
   Keith Fulton                   James Joyce 
   Finance Director               James Sinclair-Ford 
   +44 (0) 20 7290 1630           +44 (0) 20 7220 1666 
 
 GCM Resources plc 
 Tel: +44 (0) 20 7290 1630 
 info@gcmplc.com; www.gcmplc.com

About GCM Resources

GCM Resources plc (LON: GCM), an AIM listed mining and energy company, has identified a high-quality coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project (the "Project") in north-west Bangladesh.

Utilising the latest highly energy efficient power generating technology, the Phulbari coal mine is capable of supporting power plants of up to 6,000MW. GCM is awaiting approval from the Government of Bangladesh to develop the Project. The Company has a strategy of combining the Company's mine proposal with up to 6,000MW of power generation, together with credible, internationally recognised strategic partners. GCM aims to deliver a practical power solution to provide the cheapest coal-fired electricity in the country, in a manner amenable to the Government of Bangladesh.

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END

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January 22, 2021 05:58 ET (10:58 GMT)

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