Yes I agree - It's very possible that they need to show a more...

Yes I agree - It's very possible that they need to show a more advanced development of the smelter hub before DSO approval will be given by the powers that be. As this will still potentially give the company a great boost in cashflow it would be great to receive the approval. With the backing and influence of Fofo and his group and also that of Tanah Capital as long as this project gets through to production from the first two smelters the cashflow burden will be quite minimal.

The power purchase agreement will give a great insight into potential future profit margins. This is a massive indicator of future success.

It seems the reality is that there are very strict and clear requirements brought on by the Indonesian government that need to be met. As Hamish mentioned in the interview they are doing everything they can to ensure these are met along the way. This obviously does create more risk as we have seen the flow on effect from the number of conditions placed on Gulf receiving the funding.

In summary:
* If the power costs stack up.
* If GMC can aquire there own mine to avoid a dutch auction with local supply.
* If they can get the initial forecasted 30,000tn production and sale of ferro manganese per annum.
* Have up to 8 furnaces going with a greater demand for higher grade material currently and into the near future.

There are many ifs in there but this is the risk of this end of the market. High risk / high reward.
There is a lot of risk with this project as we all know.
It is up to the individual as to how much risk they can stomach. Also patience a requirement.
IF all stacks up in the near future however those that stuck fat will reap the gains from growth. If things don't stack up many lessons will be learnt.

Cheers