GCCP Resources Limited ("GCCP" or the "Company") is placing out 122m shares at $0.23 each. GCCP is principally engaged in the quarrying and processing of limestone and according to the prospectus, the Company has one of the biggest GCC-grade calcium carbonate reserves in Malaysia. The IPO will close on 28 April at 12pm and starts trading on 30 April 9am. The market cap is $274.5m.
Quarries
The Company has two quarries of approximately ~26.3m tonnes of calcium carbonate reserves and according to the prospectus, the value of the quarries is in the range of between US$170m - US$580m.... with a preferred value of US$310m (seriously?)
What is Calcium Carbonate used for?
In case you are wondering, there are many uses for calcium carbonate, including my secondary school days lab experiment of blowing carbon dioxide into a calcium carbonate solution to turn it chalky.
The consumption ...
