GCM Resources plc AIM:GCM
- Incorporated
- United Kingdom
- Chief executive
- Datuk Michael Tang PJN
- Employees
- 14
- Reports in
- GBP
- Companies House
- 04913119
Read straight from the annual reports
15.5p at close on 5 Oct 2026 · 11 reported years, 2015–2025
| Line | FY201506/15 | FY201606/16 | FY201706/17 | FY201806/18 | FY201906/19 | FY202006/20 | FY202106/21 | FY202206/22 | FY202306/23 | FY202406/24 | FY202506/25 | FY2026unreported |
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GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
11 years, at a glance
C000523-AR-2025-ch
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None: the group has no revenue. Future revenue is planned from domestic coal sales in local currency, semi-soft coking coal exports, power sales and mineral co-products.
'As GCM does not yet generate any revenue, the Board expects that the Group's operations will continue to be funded by a combination of equity and debt financing.' Revenue drivers are described as planned only, with no income recognised.
page 9£850k charge: Pre-development expenditure (expensed power project development costs, incl. £749,000 of consultant fees settled in shares)
page 34Government approval remains the near-term priority; GCM and strategic partner PowerChina are positioned to develop, finance and operate the full integrated project over its 35+ year life.
page 6The Directors do not recommend the payment of a dividend (2024: nil). No dividend policy beyond this is stated.
page 24Unmodified (clean) opinion by PKF Littlejohn LLP, signed 21 November 2025, with a material uncertainty related to going concern. The uncertainty is the need for additional funding, and the £6,198k Polo loan is scheduled for repayment in March 2026 if called. KAMs: (1) carrying value of £44.3m exploration and evaluation intangible, dependent on Government of Bangladesh approval; (2) carrying value of £48.9m investment in subsidiary (parent company). The directors state the group cannot be assured of funding for twelve months from the report date.
page 28- Government approval of the Scheme of Development is outstanding. If not granted, all intangible mining assets (£44.3m) and the investment in subsidiaries (£48.9m, parent) would be impaired.p.38
- Going concern: material uncertainty. Cash of £1,310,000 at year-end and £922,000 at the report date; net current liabilities £6,244,000. Funding is needed by the end of May 2026 and is not yet secured.p.39
- Polo related-party loan (£6,198,000) is repayable on request from 26 March 2026, but Polo is dissolved in the BVI with uncertain restoration. No funding is in place to meet a repayment demand, and repayment could only be requested once Polo is restored.p.48
- Dilution: the lender may convert the loan into shares at 5.14p, and new conversion rights at 7.5p are available, subject to the 30% ownership cap. Consultants are paid in shares.p.48
Read from C000523-AR-2025-ch.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 26 Dec 2026