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02/05/18
10:59
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Originally posted by rocket973
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What a complete joke. Why didn't GMC just buy 2 new furnaces instead of this old crap. I note a company in India is expanding their smelter complex and they are spending some US$9 million to install two brand new 9 MVA furnaces.
"“Our board has approved a capital expenditure of ₹55 crore for setting up two units of 9 MVA furnaces to produce ferro silicon and silico manganese,” said G.S. Rathi, whole-time director, SPL."
The amount of money that GMC has wasted on these 2 x 50 year old 7MVA furnaces is unbelievable.
I doubt whether any ferro manganese will be produced in 2018. No wonder the shareprice is at .11c.
Might be a buy at .01c and then offload at .015c with 50% profit.
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You dont know the facts it took this time to ship the smelters because of the length of time to get custom cleara ce but the main thing is the smelters are on there way