For the people doubting the payment being made, did you actually read last weeks ANN, it clearly states 12 Dec, not before & not after. It is clear to me the ANN on Monday / Tuesday is what is driving the bullish behaviour yesterday & today.
Gulf Manganese Corporation advised that it has received approval from Badan Koordinasi Penanaman Modal (BKPM) and the Ministry of Law and Human Rights for the investment of the US$10m for 10% equity in PT Gulf Mangan Group (PT Gulf). These approvals enable Pak Marthen to finalise his investment of US$10m for 10% equity in PT Gulf, and with all documentation signed the Company expects the funding to be received on 12 December 2016. The Company will provide a further update to the market upon receipt of funds.
GMC Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held