There was alot of great information covered by the GMC team today!
I also took the attendance of the Fofo's son at the meeting to show their support for the project a encouraging sign.
Also that they have met/talked with the new minister last week, who confirmed he is 100% behind the project and that he is just targeting illegal mines. Which will not effect GMC or any of the mines they have contracted for supply. (as per Sade description of the companies due dalliance above which was covered in the meeting)
They also mentioned a larger period of time has been allocated to commissioning from what is considered to be industry standard. This was not due to equipment, but personnel training. With giving the community ~198 of the jobs and making this project so attractive to the local government.
Also mention from a few questions that they would be ready to export their first shipment of DSO a month after the approval in which they would receive ~$1m per month profit, license lasting 4 years.
For those concerned about power prices, they only mentioned that they are getting cheaper prices than South Africa and Australia. While mentioning with the percentages Sade ran through above regarding quality of ore; we are much better off than any other country.
I left the meeting wishing i could BUY more and full confidence in Hamish and the team. I believe they can deliver on the current schedule; they communicated very openly and honestly with all that attended. Looking forward to a strong end of the year, stand by folks
GMC Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
