GMC 0.00% 0.6¢ gulf manganese corporation limited

I've just spent the last few hours going over absolutely...

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  1. 7,737 Posts.
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    I've just spent the last few hours going over absolutely everything i can find..

    The only thing that makes sense is that GMC management bent over a little to accommodate Pac & welcome him as an investor , everything looked to be going smooth but then Pac did a backflip sometime in Sep last year & wanted more then just a slice.. He singed a binding agreement , Mag spot price is on the up like i thought it would be & i'm sure he would of made his money back x 10 over the life of the investment.

    Without being there it's really hard to comment on why Pac pulled the pin , could be cold feet who knows..

    Moving forward , on every Pac update there was sophisticated investor lurking in the background.. not sure what to make of it but Pac's 20% of GMC would be about 300 mill shares , if issued at 3.5c = $10 mill..

    I'm not even sure if this is enough to get the project going but the trade of dilution means GMC earn all the money.
 
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