o.k I'll bite - the agenda of some on this forum is SO obvious,...

o.k I'll bite - the agenda of some on this forum is SO obvious, how about a balanced view to your "doom & gloom" (which is totally inaccurate).

"EVENTS SUBSEQUENT TO REPORTING DATE On 2 January 2019, Gulf announced that it had entered into subscription agreements with PT Jayatama Global Investindo (“PT JGI” and a Singapore based ore and alloy company for the issue of 533,333,333 Shares at an issue price of 1.5 cents per Share plus 533,333,333 free attaching listed options for a total raise of $8 million in two separate tranches: • 241,815,011 shares and 241,815,011 listed options (these securities were issued on 15 January 2019); and • 291,518,322 shares and 291,518,322 listed options to be issued upon satisfaction of certain conditions precedent, (Tranche 2). Gulf also announced that PT JGI agreed with PT Gulf Mangan Grup (“GMG” to waive the final conditions precedent and restructure its A$6 million convertible Note into 25.1% of the issued capital in GMG and A$5 million loan repayable from the profits of commercial production from the Kupang manganese smelter hub. As part of the restructure PT JGI will receive a 2.5% net royalty on alloy sales from GMG’s first two smelters. The key terms of the loan are disclosed in note 3 (Borrowings). Following completion of the first tranche on 15 January 2019 approximately $A2.5 million was used to fully repay all amounts owing under the PT JTS facility, which is replaced by the new PT JGI investment. As part of the first tranche completion, Eighteen Blue Investments Pty Ltd (“EBI” converted its existing A$2 million of convertible notes into 133,333,333 shares in Gulf at a conversion price of 1.5 cents per share. On 18 January 2019 a redemption notice in respect to the A$1 million convertible notes that were issued in June 2017 (refer ASX announcement 28 June 2017) was received and repayment made. At the Company’s General meeting held on 28 February 2019, Shareholders approved the following: • The issue of 291,518,322 shares at an issue price of 1.5 cents per share and 291,518,322 free attaching listed options to PT JGI and a Singapore based ore and alloy trading company (being the Tranche 2 securities described above). • The issue of Performance Rights to Mr Craig Munro, Mr Hamish Bohannan and Mr Andrew Wilson in accordance with the Company’s Long-Term Incentive Plan. • The issue of 8,750,000 shares to Mr Craig Munro and 18,750,000 shares to Mr Tan Hwa Poh in recognition of additional work done for the Company beyond their normal duties as Directors. As per the Deed of Settlement and Release with Mighty River International Limited (MRI) announced on the 24 December 2018, the company paid MRI the following: • 100,000,000 free attaching GMC listed options • Received A$0.15 million as cash subscription from MRI and issued 10,000,000 ordinary shares at 1.5 cents per share • 20,000,000 free attaching GMC listed options as part of the cash subscription of MRI "