Yes, its a shame that GMC hasn't got DSO approval. The price of manganese ore jumped 13% just last week and up 40% from the start of the year. I know who is making money and it definitely ain't GMC. Current price for the next S32 shipment for April is US$8.90/dmtu and South African Tshipi mine owned by JMS and OMH will receive US$8.25/dmtu for May 2018 shipments.
I'm guessing all the deals that GMC makes with miners will go up too, ( ie Up a lot).
I doubt whether Indonesian miners plan to let GMC make all the profits, thats if GMC ever gets DSO approval.
I note that Triple C Consulting have allowed a cost of US$100/tonne for manganese for making ferro manganese, thats less than US$2.30/dmtu.
Are Indonesian miners stupid enough to sell manganese ore to GMC at US$2.30/dmtu when the going rate is US$8.25/dmtu or US$370/tonne and upwards. Surely they aren't that stupid.
The party is on for manganese miners and there are ONLY two ASX listed manganese miners, s32 and OMH, and both are making a fortune.
