tt2000, I thought the same. Why bother with these two x 50 year old furnaces. They were basically only good for scrap and now GMC has wasted millions$$ to try and resurrect them. The amount of time wasted and the cost involved means lost profits and has also dented investor confidence. If these clowns had their act together they would have purchased one or two new furnaces and then used the same model for the rest of their smelter complex. You have to wonder about the Quarterly report when GMC says the furnaces will be operational in Q3. I'd say this is absolutely impossible, as you'll see when the delays start happening. You only need to look at how long it took OMH to ramp up their new furnaces, its only now 3 years later that all the furnaces are performing at record level churning out 120,000 tonnes of alloys / quarter. Huge profits are being made mostly due to the cheap power and no import or export taxes ( for ever).
GMC Price at posting:
1.2¢ Sentiment: Sell Disclosure: Not Held
