asjadyahya, Anything else in the report you can share with us?
$240 per tonne sounds abit light given the premium they have suggested they can get (over $100 per tonne) based on the flake sizes. So margins could be even higher, . Look forward to some sort of update from management.
Also just as an aside (above and beyond Vermiculite and Limestone) there's also the Kenya exploration...
"Kenya
Mwingi Exploration Prospect
A 24 month Special Licence and a 12 month Exclusive Prospecting Licence (EPL) was issued to Gulf by the Commissioner of Mines and Geology in Kenya in September 2009 for the exploration of base and precious metals, mineral sands, rare earth elements and uranium. Gulf?s focus is on the industrial mineral potential of the region and Joint Venture partners are currently being sought to
explore the base metal, iron ore and gold prospects that lie within the licence areas."
So there's quite abit of diversification in this company which increases its attractiveness.
Lots more to come I believe as they get their respective projects further advanced. What I really like is their long term offtake agreements they are signing with highly reputable companies. Thats what the financiers love and gives them options to continue to raise funds to expand without tapping the market.
cheers all
Maddoc
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