GMC 0.00% 0.6¢ gulf manganese corporation limited

Ann: Gulf Receives Operating Licence, page-14

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 245 Posts.
    lightbulb Created with Sketch. 117
    IMO
    It appears from what I have read on current mining laws in Indonesia (posted recently for those who want to have another read) you need to be a holder of an IUP license to be considered for selling unprocessed materials. You also need to show significant progress of a processing plant and divest a portion of the business to a local venture. GMC having ticked all these boxes now are in a very strong position to obtain the approval for DSO sales.

    In regards to the share price I don't think it will rerate until we get closer to commissioning. Then it's a matter of how smoothly that process goes.
    Also appears someone still selling off large quantities down to 1c. Not much retail investors can do but wait untill they either start accumulating at a higher price or obviously simply stop selling. My bet is the price will remain around the 1c-1.1c until the above is achieved.

    As a current holder I hope I'm wrong and we start to rerate in Q318 before commissioning but doubt this will happen.
    As long as progress is made and minor speed bumps along the way the longer term holders should be well positioned.

    Cheers guys
 
watchlist Created with Sketch. Add GMC (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.