GMC 0.00% 0.6¢ gulf manganese corporation limited

Ann: Gulf receives Provincial Government Approval-GMC.AX, page-47

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    lightbulb Created with Sketch. 261
    Apologies to all my numbers were from memory and not quite right

    From the annual financial report
    "Following the initial US$10 million investment, Pak Marthen will have a six month option to purchase an additional 5% interest in PT Gulf for US$7 million. Pak Marthen will be entitled to one board representative on Gulf."
    So thats 15% interest for US$17mill (AUD$22.2 million) and our mc is AUD$31 million
    Just keeps getting better
 
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