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Bangladesh

Polo owns an important strategic interest in GCM Resources plc (“GCM”). GCM is a London-based resource development company with a wholly owned subsidiary operating in Bangladesh and investments in South Africa. GCM’s shares are quoted on AIM (ticker code: GCM).

GCM is engaged in developing a coal mine and power plant project in Bangladesh, the Phulbari Project. The mine life is expected to be more than 30 years, with targeted production of 15 Mt at full capacity of mostly export quality metallurgical and thermal coal. The Phulbari Project plans to add to Bangladesh’s energy security by reliably delivering coal to the domestic market. GCM has the potential to install up to 1000 MW of coal fired power generating capacity at the mine site.

In addition, GCM has invested in GVM Metals Limited, whose primary focus is to bring various South African coal properties to production. This investment provides GCM with a meaningful stake in the South African coal sector and the opportunity to assist development of a number of underground and open-cut coal mines.

Further information on GCM, including its AIM admission document, recent announcements and other disclosures required by it under Rule 26 of the AIM Rules, can be found on GCM’s website, www.gcmplc.com.






Operations

Mongolia:
  - Coal Projects
    ▪ Doshin
    ▪ Altanshiree
    ▪ Khashaat
    ▪ Ereen
    ▪ Union
  - Uranium Projects
    ▪ Dornogovi
    ▪ Dornod
Bangladesh