Ann: Gulf Secures A$10.8M Cornerstone Investment, page-61

Why don't GMC shareholders wake UP?
This new deal for $10.8million for 714 million shares + 714 million options at .005 will give another 25% of the company away. All the options will most likely be taken up, resulting in almost 6 billion shares.
I note that announcements almost never mention the total number of shares or options now.
A consolidation will be on the cards next. Most likely at 30:1, with 6 billion shares it will be necessary to do a consolidation to help fund the next furnaces, because the first 2 won't make a profit.

I'd also be concerned that the price of FeSi is going up more especially when you consider 0.43 tonne of FeSi is reqd to produce 1 tonne of FeMn. Currently the price of FeSi is higher than the price of manganese alloys. Not exactly a smart way to do business.