Yes the permit will come after a week or two but as you are all...

Yes the permit will come after a week or two but as you are all aware I am not waiting for the permit. Timor just had a week long public holiday delaying the application process a little longer.

Look what happened to RRP (let me ask would you of preferred to be holding RRP on Monday or jump on the stock midway through the spike yesterday?) The Bupati is ousting the local duds after years of trying to assist local companies to their dismay. This is a motivator for the local Govt. to get foreign interest and professionally run companies that will run strictly by the book with proper auditors, accountants and experienced management. The Bupati has had it's fingers burned by local business and will think twice before repeating the mishaps with locals.

I didn't want to mention it but Ed88 from the other forum has given me the ok, he has a way with extracting info from secretaries using his charm and sales skills. " it will soon be announced that PAK will be given up to 30% equity, Donna mention this by accident as I was questioning about PAK . So far it is 10% + (5% six months down the track), then he will be offered the other 15% @ possibly another 17M USD totaling 34M USD. The deal is 'no' single investor can have a larger stake than 30% of GMC parent company." Refer to Gulf_1798_ASX_release.pdf

A point many would have missed is that in older presentations forecast-ed smelter cost was 5.6M per smelter but some how we have got it at a huge discount @ 1M and 30,000t of manganese ore at lumpy cost for 3 years totaling 90,000t. What a great deal. So if we can negotiate a similar deal for the remaining smelters that would equal a further 3M USD + 270,000t of manganese ore at lumpy cost. for 3 years (ONLY a gun sales team could pull a deal this good- so management are top notch IMO)

With the 10M about to land on the table we are more than covered to complete all 8 smelters and have saved Millions in the process.

The secured land negotiated with the local government adds to the likelihood of the permits coming through 100% as why would they of leased the land if there was any doubt?

This is a Win Win for all, the government, the people (6k + jobs)  and especially for us, the investors being able to buy at such a discount