Results: GCM

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Why I still wouldn't invest in GCM shares even after its deal with PowerChina

Investors in GCM Resources (GCM) seem to be shocked that recent news hasn’t caused the share price to rise much higher, and barring a very brief spike immediately after news of a deal landed, it has settled back to around the level that it was trading at before the RNS dropped. The news that has got everyone invested in this Bangladeshi coal miner so excited is a joint venture agreement with a huge government owned entity called PowerChina, which is involved in coal fired power plants and is a name that some will be familiar with as it also has similar deals in place with other small mining companies in various parts of Africa as well...

EPIC GCM
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GCM Resources – Interims: dilution ahoy!

AIM-listed GCM Resources (GCM) has been trying to get permits for a coal mine in Bangladesh for as long as I can remember – and this morning’s interims to Dec 2015 continue the lashings of Hartley’s being promised for tomorrow, or the day after. Or perhaps never. But meanwhile the cash is running out and there is a Going Concern warning to be found. Not surprising, as the balance sheet shows Net Current Assets weighing with a deficit of £416,000 – quite a problem when the market capitalisation is just £2.8 million (source: ADVFN).

EPIC GCM
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GCM Resources: Above 25p Zone Still Targets As High As 45p

One of the best things about being a Closet Chartist is the way that the cloak of anonymity allows you to make the kind of calls others may be too fearful to entertain. Such a “where angels fear to tread mentality” is certainly appropriate in the case of GCM Resources where there has been a near vertical rise for the stock through the 200 day moving average at 19p.

EPIC GCM
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Buy GCM Resources at 19.125p

GCM Resources (GCM) is yet another resource stock where we should have all sold back in the glory days of 2010 – its shares have crashed from 190p to 19.125p since then but things are a changing.

EPIC GCM
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Buy GCM Resources (GCM): Above 25p Targets 40p Plus

A characteristic of the small caps/minnows space, is the way that we are constantly grappling with situations where the decision as to whether a stock is a situation to chase or to avoid? In the case of GCM resources we have another classic example of an ongoing conundrum.
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  • 2013-05-15 02:23:00
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