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0.6¢ gulf manganese corporation limited

thanks tt2000. i will buy more this arvo no matter 3.2 3.3 or...

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3,634 Posts.

06/12/16

12:47

Post #: 21136583
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Originally posted by tt2000 ↑

Just had a discussion with the CFO.

So Pak is ready to go with the money - the hold up is the lodgement of the papers with the Indonesian government (e.g. anti-money laundering / foreign investment papers). This doesn't require any approvals though, simply the lodgement and receipt of these documents and I was told they don't see any risk in this process and still expect it to all complete by the end of this week or early next week.

I was told Pak is as eager as we are for this to happen and he actually wanted to buy in to more of the company. GMC had to limit the amount that he could buy in.

I did ask about whether there would a capital raising for working capital (and purchase of the manganese) and was told that GMC were happy to use funding from Pak and would not require a CR.

The NPV of US$160M was also mentioned on the call.

I must say I was left quite confident after that discussion that the money will soon be here.

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thanks tt2000. i will buy more this arvo no matter 3.2 3.3 or even 3.4.
I think the money will be confirmed as received tomorrow before market opens and we will see 4 to 4.5 cents immediately. Just my thoughts.

GMC Price at posting: 3.3¢ Sentiment: Hold Disclosure: Held
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