You'd have to be joking "maiden profit confirms long-stated...

You'd have to be joking "maiden profit confirms long-stated margin of US$700+/t"
You've been totally deceived by GMC management if you believe this.

Firstly GMC power/electricity is close to US$0.09c/KWh, this is triple OMH power costs. (power is US$0.03c/KWh in Sarawak.
OMH owns it Mn ore mine in Australia and has 13% stake in Tshipi, the worlds largest manganese mine ie 3.5 million tonnes annually.
The OMH profit margin is about 21% on ferro manganese,  the original forecast was for  15% gross profit margin.
The BS from GMC suggesting a  "US$700+/t" profit is 100% profit. IMPOSSIBLE. That Triple C Report is absolute garbage, you'll find this to be true when/if GMC goes into production. Current HC Ferro manganese price is US$1500 to US$1600/tonne as of last week.
Realistically, if GMC makes $2 million/pa you'll be extremely lucky, although the most likely scenario is GMC will  continue to lose money due to all the snouts at the trough. Its time GMC shareholders come back down to earth.


US manganese alloy prices dip in quiet market conditions
Chris Kavanagh
April 04, 2018
The US high-carbon ferro-manganese market weakened on Thursday March 29, as latent spot market demand and ample supplies wore on pricing.
American Metal Market assessed spot prices for high-carbon ferro-manganese in-warehouse Pittsburg at $1,500-1,600 per long ton on Thursday, down 3.1% from $1,550-1,650 per long ton previously. The market has been bogged down by lackluster spot activity in recent weeks, with prices now starting to give up ground. “Aside from a few small foundry and inter-trade inquiries, the spot market is very quiet at this point,” a supplier source told American Metal Market. Market participants largely agreed that stocks are plentiful at this time, and material availability is not a concern. “There is no shortage of material available right now.