By Joe Hoppe
GCM Resources said Friday that it has noted a recent increase in its share price over the last three days, and said it has no new information to announce.
The AIM-listed mining and energy company said that it is aware of reports in Bangladesh concerning coal supply shortages and significant power load shedding in the country. It has also further noted significant commentary in Bangladesh on a suggested move towards developing and extracting coal from its own domestic mines, rather than mainly relying on imported coal.
However, it said it has no price sensitive information to disclose and no material updates to share since its interim results posted in late March.
Shares at 1059 GMT were down 0.13 pence, or 2.8% at 4.38 pence, having risen as high as 5.89 pence on Thursday and 54% over the last month.
Write to Joe Hoppe at joseph.hoppe@wsj.com
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