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GCM Resources – placing (discounted, natch) and the proceeds for “working capital” purposes hey?…

By Steve Moore | Friday 28 March 2025


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


GCM Resources (GCM) has announced that it has conditionally raised approximately £1 million via a placing at 3p per new share, with the announcement “Highlights” including that “the net proceeds from the placing are intended to be used by the company for working capital purposes”. Really?
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