Ann: Quarterly Activities Report-GMC.AX, page-4

Hey TP,
re: "free to Transalloy"... Are you sure?
Below in the Annual Report 2016 states at the Metal Bulletin's index price.
on page 20,
" Gulf has also agreed to supply Transalloys with up to 30,000tpa of high grade manganese ore at the prevailing reported Metal Bulletin’s index price for manganese lumpy, for a period of three years"

re: $10mill deposit
on page 17,
" The Company has commenced discussions with Pak Marthen to make a minor amendment to the term sheet reflecting this change. "
Unless it is a typo, there is only ONE amendment, but why the heck is a 'minor' taking so long?

re: 50% of profits paid as dividends
Nothing in the Annual Report. A change of this significance surely, should be addressed to the SH with an explanation.
I have received no reply to this item in my email last week. Donna - if you are reading this, please explain, otherwise expect this to be raised at the AGM.

Lastly, moving office now whilst the deposit is way overdue shows lack of priorisation IMO. 100% focus should be on wrapping up the deposit. And lastly, the Perth office rental market is relatively bearish so IMO the Mgmt could have put this off without FOMO on a great location (Ascot - that's got me puzzled though).

regards