So we have just recieved funding agreements to get this to production.
Although we have given up 25% equity there are a few ways to see this.
We now have the experience of a Indonesian Company within our walls who have several years of experience working inside the Indonesian business world. Taking 25% ownership means not only do they see the opportunity in investing in GMC but it is also within their best interest to ensure this project is successful.
This may also help get the DSO approval pushed through quicker.
Hamish said he expects the Smelters to arrive on site in March.
With the backing of significant funding there is also the potential to purchase the manganese mine which due diligence expected to be done by April 30th. JORC report will be interesting.
There is also the power supply operating agreement which is supposed to be finalised soon. This will be vey interesting to see what they have negotiated.
Some very important milestones coming up. Very exciting that this has been derisked with funding agreements in place through to production.
Cheers guys
GMC Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
