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Energy and mining firm GCM Resources incurred a loss after tax of £1,091,000 for the six months up to 31st December, the company said in a statement to shareholders, putting the long-term feasibility of the company in jeopardy.
In his statement Mohd Najib Bin Abdul Aziz, non-executive chairman said that the state of the companys finances has resulted in: 'material uncertainty which may cast doubt as to the Group's ability to continue as a going concern' but efforts are being made to obtain sufficient funding.
GCM, which intends to present a comprehensive power solution to the Bangladesh Government, says that its focus for the next six months will be to gather enough external funding to continue with proposed projects.
At 1:20pm: (LON:GCM) GCM Resources PLC share price was 0p at 11p