By Ian Walker
Shares of GCM Resources PLC jumped 18% Monday after the company said that its power plant and mine consulting agreement with Dyani Corporation Ltd. in Bangladesh has been extended for an extra two years until June 30, 2022.
The AIM-listed mining and energy company said the extension is on the same terms as previously agreed. It added that it believes Dyani has been instrumental in the memorandum of understanding with China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd. and Power Construction Corporation of China, Ltd. which is critical to GCM achieving its goals.
Shares at 1220 GMT were up 0.50 pence, or 2.9%, at 17.50 pence, having peaked at 20 pence shortly after the announcement was made.
Write to Ian Walker at email@example.com