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Construction of Manganese Smelter Affected by Mine Moratorium, page-90

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Abacoolloo

404 Posts.

122

12/09/18

19:16

Post #: 35558699
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Originally posted by rocket973 ↑

Don't get your knickers in a knot, I didn't write the story.
Lets suppose GMC buys Mn ore from a company that mines Mn ore and then on sells it to GMC, then surely then its appropriate to say
"The poor villager digging up the manganese ore for GMC is only paid A$3/day, and thats nothing to get excited about either"

I didn't say that the poor villager was employed by GMC, but the Mn ore thats been mined in this way eventually ends up in a GMC smelter. Therefore due to GMC purchasing the Mn ore then indirectly GMC is indirectly associated to the wages paid to that poor villager. I note in GMC reports that its quick to point out how cheap the Mn ore will be, and therefore the profits will be enormous. Its the poor villager who is subsidizing those huge GMC's profits.
There is no indication by GMC that they'll pay the spot manganese ore price.
If GMC realise that if they did pay market price then they'd be bankrupt before they started. GMC need cheap Mn ore which is mined by an underpaid villager.

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Didn't realise we were doing hypotheticals now.

GMC Price at posting: 1.3¢ Sentiment: Hold Disclosure: Held
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