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0.6¢ gulf manganese corporation limited

Ann: Gulf's Kupang Smelting Hub Facility Fully Funded, page-40

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253 Posts.

2

13/03/18

08:52

Post #: 31704007
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Originally posted by tt2000 ↑

You are spot on

"
PT Gulf Mangan Grup (“PT Gulf”) will issue a convertible note, in an Indonesian Rp (“IDR”) principal amount equivalent to approximately A$6 million, with a zero percent interest to PT JTS’s wholly-
owned subsidiary, PT Jayatama Global Investindo (“PT JGI”) (“PT Gulf Convertible Note”). Upon satisfaction of the agreed conditions precedent, the PT Gulf Convertible Note will automatically be
converted into 25.1% of the equity of PT Gulf (“Project Investment”)."

A$6 million for 25.1%

Means A$18 million for the remaining 75% that GMC are left with.

At $0.015 with 2.6 billion shares on offer (and not including the options) = GMC has market cap of A$40 million....

These are the facts, make your own conclusion....

Expand

Only flicked through the announcement, but agree it appears overly onerous on the surface of it.

Does anyone know if there are any local ownership requirements for the licenses that are being sought?

Thanks

GMC Price at posting: 1.6¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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