"Gulf Manganese Corporation Limited (ASX: GMC) (“Gulf” or “the Company” advises that it has secured a cornerstone investment of ~A$10.8 million from Jakarta based businessman, Bapak Dato Dr Low Tuck Kwong (“Bapak TK Low”, founder and President Director of integrated coal group PT Bayan Resources
TBK, (“PT Bayan”."
GMC first gave away 25% for $6M AUD. Implies 100% for $24M
Now they've given away 20% for $10.8M AUD. Implies 100% for $50M
GMC will be left with only 55% of the project. It has a fully diluted market cap of over $100M (for 55% of the Project). Implies 100% for $181M.
My guess is given the current market cap, it will be annihilated today. Mr W, you sir are a genius.
advises that it has secured a cornerstone investment of ~A$10.8 million from Jakarta based businessman, Bapak Dato Dr Low Tuck Kwong (“Bapak TK Low”
