Not completely sure to be honest, i'm only new here myself. From the recent Capital Raising announcement (May 5th) it mentions "The net proceeds and existing cash reserves will be used towards further advancing Gulf’s manganese alloy facility in Kupang, Indonesia, and for initial payments on a South African smelter which is to be relocated to West Timor."
In the Activities Report (May 2nd) it mentions the below.
First Smelter
Gulf has identified a pair of suitable smelters in South Africa which can be readily transported to West Timor. Final negotiations are underway regarding the securing of these smelters with a market update on progress anticipated early in the next Quarter.
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- Ann: Project Update - Kupang Smelting Hub, Indonesia-GMC.AX
Ann: Project Update - Kupang Smelting Hub, Indonesia-GMC.AX, page-8
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