Excellent volume the last couple of days.
Given road ahead and the proposed work program, should we get the bupati sign off and pak transfers the money- what does everyone think the share price will be at December 1?
THE ROAD AHEAD FOR GMC: PROPOSED WORK PROGRAM
First Quarter 2016 (Completed)
Second Quarter 2016 (Completed)
- Engage in community workshops with the office of the Bupati
- Negotiate the purchase terms for the South African Smelters
- Continue negotiations for subsequent power plan
- Identify and qualify 2-3 further ore suppliers in the Kupang area
- Roadshow and continue to broadcast the project
Third Quarter 2016 (Current)
- Raise AUD$1.8M for project establishment
- Commence ore purchases
Fourth Quarter 2016
- Finalise purchase of smelter and arrange for the Smelters to be shipped to West Timor
- Cornerstone commitment for 15% equity in PT Gulf Mangan Group (or Gulf) for a total of USD$17.0M
- National Roadshow
- Final permitting from the office of the Kupang Bupati.
- Balance of $10m USD recieved from Pak Marthen
- Establish power contracts
- Commence Construction
- Commence operator training program
First Quarter 2017
- Secure offtake contract for up to 70% of production
- Monitor ore supply chain and market conditions and adjust module program to suit.
- Continue evaluation of Indonesian ore sources
- Develop partnerships arrangements/JV with Indonesian suppliers
Second Quarter 2017
- Commission first furnace
- Market sample of first product largely into Asia.
- Establish Community programs
- First cash positive quarter
December Target Prices
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