I appreciate your research, regardless of the intention behind it. I welcome anything that encourages me to dig a little deeper or refresh my memory.
It was 2 x 7MVA smelters that GMC purchased off Transalloys. They were originally targeting 8 x 9MVA smelters, but if you note the below table from the April presentation, the first 2 smelters total 14MVA, and then every additional 2 smelters add 18MVA.
The $1m sale price was part of the agreement to supply Transalloys (Renova) with 30ktpa of high-grade manganese ore, as well as marketing rights to 60% of the eventual smelter output, for three years. It's difficult to say what their true value was.
They would need a lot of ore to feed all those smelters, which is presumably also part of the reason the mid-carbon smelters have been sitting idle for a decade while they focus on high-carbon alloy production.
GMC Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
