GMC 5c tomorrow! 10c in the following months, page-177

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JDragon

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09/12/16

07:38

Post #: 21216389
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Originally posted by sostool ↑

I am familiar with requirements for financial transactions in Indonesia (within same banks as well), and I must say that it is quite strict and fair amount of paperwork and approvals are required for any amounts exceeding US $1000. For instance, withdrawal of more usd1000 requires passport ID and is generally done at a branch or must be pre-arranged with a branch.

We are talking US $10M, and even if in country transaction; it will require approval from Bank Indonesia; and more checks would be required if funds leave offshore.

I think patience is required here, as these things take time. We have done extremely well if GMC receives money this week, because generally banks have limited staffing and resources from 14th of Dec for few weeks.

Either this week or next week or whenever the money lands, it is public knowledge that payment has been approved.

Be patient and wait because the $10M puts the 'total' enteprice value at around 10c unadjusted; and your patience will be rewarded.

Further derisking will occur when the coy gets closer to production. Off take us largely in place so once again be patient...take profits along the way but leave some in case you miss the continual rerating.
My opinions only.

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IMO ... someone mention 21 days settlement is 6th dec which calculation based on 21 days including weeken

But if you calculate 21 WORKING days then it would be 12th dec which is next monday.

So just be patience and might not be seeing anything untill next week.

GLTA LT

GMC Price at posting: 4.0¢ Sentiment: Hold Disclosure: Held
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