GMC (ASX) Key highlights and important points GMCO &amp; GMC

Originally posted by Red Tempura ↑

Cheers Bonsaboy,

here is something more juicy...lol. I cannot hide my excitement

http://www.theaustralian.com.au/bus...y/news-story/4a8fe43b5a9e0cd4af60acce1e0feb6d

Opportunity knocks
The Indonesian ban on the export of unprocessed ores mentioned earlier has served up an opportunity for ASX-listed Gulf Manganese Corp (GMC).
It has set out to become a manganese ferro-alloy producer in West Timor, using local high-grade supplies of the critical steelmaking ingredient and processing the material in two house-sized smelting furnaces to be relocated from South Africa to a site 12km from the capital Kupang.
In recent days a big-time backer of the plan has emerged, with a deal said to involve the backer taking a 10 per cent interest in the project in return for $US10m, with the potential to acquire another 5 per cent in the project for $US7m.
The ASX has asked for more information on the deal, with trading in GMC halted until the ASX is satisfied the market is fully informed. Assuming that occurs, GMC’s tiny market capitalisation at its last sale price of 1.8c a share suggests some adjustment to the upside is on the cards.
It is believed that a guy who has made his fortunes in the Indonesian cement industry is behind the deal. And originally coming from West Timor, he wants to give back, and presumably make some dosh on the way through.
What can be said is that if GMC gets its two smelters up and running, there will be local jobs for more than 600 people, and Indonesia’s ban on exports of unprocessed ores will have achieved its aim of creating local jobs and investment in the part of the world that struggles to attract investment dollars at the best of times.
Perth stockbroker Triple C Consulting has a research reported dated August 5 which gives a good feel on the potential of GMC’s Timorese manganese smelting hub ambition. Triple C has a 4.2c a share 12-month price target on the stock.

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Just for those who missed it, Triple C consulting had made that call on the 5th before the smelter anns. Would be good if someone can dig out his recent call

Not long to go now folks any day now we will have our ann and be sitting way higher then where we are...

The good news is because fluctuation between 1.8 & 2.2 over the past few days has given many more an opportunity to come in before the spike. The great news is that our piphunter missed the order @1.8 hehehe so he will have to come in over 2.1c

I anticipate a trading halt either this arvo or tmr...