"As previously announced, and outlined in the March 2018 Quarterly Report, the convertible note requires a fiduciary agreement to be registered in Jakarta. This was to be completed with a long stop date of April 30th, 2018. This target was not met, and the long stop date has been extended to 31st May 2018, a date that should be far enough out to ensure registration."
7 business days to go.
fiduciary agreement registration = $6M funding (for 25% of the Project and title to the two smelters)
No fiduciary agreement registration, no $6M funding.
Given GMC have a projected spend of $9.3M for the quarter between 01 April and 30 June, and only had $3.6M cash as at 31 March 2017, the next 7 business days are critical!
tick tock
31st May Deadline
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