gmc will operate just like a scrap metal yard does.
miners & public will be selling manganese at the gate, gmc process it to value add and sell to market.
2 years ago scrap steel was $250 tonne, an old washing machine wouldn't last on the side of the road for 30 minutes, last year scrap steel went down to $40 tonne, no one even looked twice at anything steel.
today scrap steel is $100 and it's still not enough for most scrappers to bother picking it up but that's probably due to the fact that not many are prepared to work all day for $50, even unemployed because they can just stay in bed and earn $250 a week plus benefits
Now think about Indonesia, having a manganese scrap yard all of a sudden will start a bit of a frenzy, cash for dirt just about, peasants will leave the rice paddies and go for manganese and some will find big deposits, the existing artisan miners, who btw, are not like we think of artisan, like an artisan jeweler tinkering away in his shed, Indo' artisan miners are on a bigger level of artisanship.
2 Furnaces are paid for in full and are being reconditioned right now, also the transformers are getting reconditioned, 3 of 'em, not just two, which is a good sign that they're thinking fwd enough to have one transformer onsite as a backup.
Blessings, not even the grass was getting mowed until the official site blessing with the local kupang community and government officials happened, now that's done there's really nothing more that can be done, furnaces land in December and bingo boingo, people will be talking 10c again.
GMC Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
