Some good points made here, as I was thinking similarly. From my understanding that when both smelters are up and running they could be producing 20,000 metric tonnes pa @ $1970 per metric tonne (as at 31 March 2017) $39.4m and if their costs were about $800 per metric tonne then that is around about $23.4m per annum.
We also know that battery manufactures will be looking for good quality manganese, which GMC offers. I also prefer the 100% ownership over the 90% deal.
In regards to the relationships in Indonesia, I think having the local be a representative will be good for local community buy in and support. Plus we can't discount the fact it will bring substantial jobs for the area that will support the local economy and offer growth.
So for me what has happened since Dec 2016 has been a long an torturous process, and not what I would ever like to repeat. However, I think everything has finally into place and the company is back from the brink and looking good. Yes there will be a built up demand for investors to sell out, but I think GMC is in a much better position than it was last year when the trading halt was placed. So in reality it could be a great opportunity to buy in and maybe one of the last times to buy in so cheaply.
Good luck to all when it is back trading.
DYOR
GMC Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
