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)
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
Second Quarter 2016 (Completed)
Raise AUD$1.8M for project establishment
Commence ore purchases
Third Quarter 2016 (Current)
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
Fourth Quarter 2016
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
First Quarter 2017
Commission first furnace
Market sample of first product largely into Asia.
Establish Community programs
Second Quarter 2017
First cash positive quarter
GMC Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held