GMC 0.00% 0.6¢ gulf manganese corporation limited

Ann: Cornerstone Investment Update, page-190

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  1. 2,345 Posts.
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    AZZ's share price value was premised on a US250M transaction completing with no conditions precedent.

    GMC's share price value is currently premised on Pak buying 10% for 10M.

    AZZ's transaction failed to complete and it went into administration. If GMC's transaction fails to complete it will also be GMC's undoing.

    I'm not going to spell out what I've already written before. GMC do not own a world class project, they own the concept of it and that's all. Without the money, there is no project. The funder should be aware of this and dictate the terms the set.

    Without a philanthropic type investor GMC's current share price value and future value is at risk.

    There are many parallels relating to disclosure and financial due diligence that can be drawn between AZZ and GMC. Unfortunately for you (and must punters on here) it does require you to have a small understanding of the Corps Act.
 
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