Ann: Gulf Receives Operating Licence, page-23

Coach5634, yes I'm positive about manganese and the supply of ferro and manganese alloys to the world market. I'd pile into GMC if I thought it would make money. Alas the power price in Indonesia now and the future stops me from even buying a single share. Yes, I am a OMH shareholder and therefore completely understand the need for cheap power for a smelter complex. You only need to read the latest GMC Quarterly report to see the power problems that will arise in the future. OM Sarawak runs on cheap hydro power, the wholesale price of power is US$0.015c/Kwh at the supplier level and this power is then supplied to OM Sarawak at US$0.03c/KWh on a 20 year contract. GMC will use power at 3x that is subsidized by the Indonesian Gov't and the power provider PLN is losing money. The reason why the power price that GMC has signed up for is not announced by management is because its expensive power and GMC management know it. As I've pointed out in previous posts the Japanese ferro alloy business was mostly closed due to power prices that are even cheaper than Indonesia. I know that all the GMC cheer squad don't like to hear this, but its the fact.
Thats why I KNOW that GMC will be battling to ever make a dollar. Frankly, if I wanted to buy GMC I could buy millions at a drop of a hat, its a listed stock on the ASX and anybody can buy.