That is factually incorrect.
On 12 March 2018, the announcement states:
o Indonesian Rp equivalent of approximately A$6 million Convertible Note to be issued by PT Gulf to PT JTS’s wholly-owned subsidiary, PT Jayatama Global Investindo (PT JGI)
o Additional Indonesian Rp equivalent of approximately A$7 million standby facility
to be available to provide additional financial loan facility, if required, during
construction / commissioning phase
o A$2 million Converting Notes issued by Gulf to Eighteen Blue Investments Pty Ltd,
together with 1-for-1 free attaching listed options
GMC have received $2.0M so far From Eighteen Blue Investments via a converting note.
The investor (PT JGI) has yet to deposit anything into GMC's bank account. If they do decide to deposit the $6M, they get 25.1% equity and title to the smelters.
If this is really such a compelling project, then why is this investor still not put the $6M for the 25% stake?
PS - i think you have confused the deposit and the stake that the investor is acquiring in this project. May be worth rereading announcement on 12 March 2018.
Cheers
- Forums
- ASX - By Stock
- GMC
- Future good for GMC
Future good for GMC, page-47
-
- There are more pages in this discussion • 28 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)