GMC (ASX) Ann: Gulf on Track for First DSO Sales

Originally posted by robworld: ↑

Guiseppe11 - For goodness sake - put some new batteries in your calculator and redo your numbers. I shall re explain how things work from this point on and then I am getting on a plane and getting out of here. All of the info that I am posting has been gleaned from company presentations in print or in person at various meetings that were attended by numerous people.

First point - $5Mil loan facility from Indonesian investor expired at the end of April - he didn't pull it - he is currently attempting to renegotiate the terms - the company is now talking to numerous other financial institutions - make more own assumptions.

Second point - DSO will not get gobbled up to pay wages - the new batteries in your calculator will show you this. The company runs about as lean as any company that I have had the pleasure of looking at before.

Third point - Proper managers get paid more than $100K per annum - If you pay peanuts we all know what you get. If HB can put this deal to bed he will have created a company with a market cap of around $150Mil - as opposed to a company with a current market cap of $30Mil - that is called value adding. In this instance we will all be thanking him from the bottom of our hearts - and wallets for that matter.

Fourth point - If (and I know that it is an "If" until they sign proper term sheets) GMC (or GMG) secures the necessary funding then this company will be producing smelter revenue along with DSO revenue by the end of this year - later than was originally intended admittedly but revenue none the less.

Fifth point - The "2 lousy smelters" will be spinning off enough revenue to virtually cover their current market cap in the 1st year of full operation. If that is your definition of lousy then I'll take lousy any day of the week - and then twice on Sundays.

And then finally - Sixth point - What the company needs is proper financing from professional financiers to get the project running. The DSO revenue sweetens the deal for the bankers who can recognise a money making machine when they see one.

Anyway, time to hop on to a plane. It has been a blast.

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Well said RobW I have held since day dot and the same dolts have been the screaming chicken littles for about as long yet according to them this company should have been bankrupt at least 2 1/2 years ago some of their favourite hit tunes are "theres no dso for you dear" "smelter skelter" "no share price tonight" "in leaving on the share plane" just to name a few but here we are DSO yes Furnaces Yes Investors yes The biggest lithium battery company going up in OZ, GMC will produce some of the highest grade magnesium in the world which will bring a premo price and the heart is beating strong slowly maybe but strong all while the chicken littles are still running around screaming the sky is falling remind me not to take investnent advice from them