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Ann: Gulf receives Provincial Government Approval-GMC.AX, page-66

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JDragon

3,933 Posts.

239

06/10/16

09:07

Post #: 19657715
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Originally posted by ShareTradingJnr ↑

gday guys. especially you summer1. hope you're well.
Just my 2 cents, Andrew Wilson and Hamish Bohannan are keys to working with Pak.

Andrew Wilson was the former president of BHP Indonesia for 8 years, speaks fluent Bahasa Indonesia and is the key to this. He wined and dined the who's who on the BHP credit card for years and would be the number 1 guy we could have on the job.

The paragraph in the recent announcement relating to Pak is purely to protect gmc from ASIC throwing up any problems. Pak is still strongly committed to investing. It's simply a matter that the term sheet that was first signed by Pak for the cornerstone commitment states 'subject to the written approval from the bupati' . GMC management have managed to lock down land and all the required approvals for land just down the road and this was actually their 1st preference prior to assessing the bupati option.

This new provincial government approval from the governor gives the full green light on the project. As it is the governor that has signed off on this and not the bupati , the term sheet simply needs to be amended which they are currently doing. The project continues to get significantly de risked as these key milestones are achieved. It will be a matter of time before we see money settled from Pak and the next big re rating for the stock. Current share price represents significant value for a short term 2-3 bagger.

Long term sky is the limit. GLTA and well done GMC management on the key progress they are making.

I'm in this for the long haul. Any doubters might do well to type Tom Boyd into google. IMO

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IMO Also the gov approval are quite significant... it got approved in really short term
For my 2 cents worth, i believe Pak has involved in this process as this is his playground, he has connection for this approval and fully aware of change in location and happy with it.

I am sure the fund will be locked and Pak aware of his smart money.
Win-Win

GMC Price at posting: 2.3¢ Sentiment: Hold Disclosure: Held
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