ASX Announcement
31 January 2018
QUARTERLY ACTIVITIES REPORT FOR
PERIOD ENDED 31 DECEMBER 2017
Highlights:
• Kupang Smelting Hub Facility civil works program underway with pouring of concrete foundations and additional site works commenced
• Environmental Approval (UPL-UKL) and Building Permit (IMB) received for development of Kupang Smelting Hub
• Main components of smelter refurbishment program in South Africa finalised with shipment to Kupang scheduled for Q1 2018
• Power supply secured for Kupang Smelting Hub operations
• Rental terms finalised for Bolok Estate – five years’ rent paid in advance
• Completed capital raising with receipt of final A$1.5m funding tranche
• Exclusive rights secured to undertake due diligence on high-grade Timorese manganese mine
Gulf Manganese Corporation Limited (ASX: GMC) ("Gulf" or "the Company") is pleased to provide shareholders with its Quarterly Activities Report for the period ended 31 December 2017.
Kupang Smelting Hub Project Overview
Gulf is focused on developing a ferromanganese smelting business in West Timor, Indonesia to produce and sell medium and low carbon ferromanganese alloy.
The Kupang Smelting Hub facility will contain eight furnaces built in stages over five years, targeting the production of a premium quality 78%+ manganese alloy.
At full production, Gulf will aim to purchase and process 320,000 tonnes of manganese ore per annum, producing circa 155,000 tonnes of premium quality ferromanganese alloy.
