Asx: GMC
could rise significantly this week. I Did some digging on GMC yesterday and according to the last 4 announcements this week will be an important one. If you read and research last 4 announcements, all of these 4 points below could happen this week, thus significantly move GMC Shareprice higher. Manganese production is due to be in full production with 2 operational furnaces pumping out $$$$ as early as June. DYOR..
ASX Announcement
3 April 2018
Company Update
Gulf Manganese Corporation Limited
(ASX:GMC) (“Gulf” or
“the Company”) advises that the Long Stop Date for the completion of the PT Gulf Mangan Grup’s Convertible Note
(“PT Gulf Convertible Note”) has been extended to 30 April 2018 to allow for the registration of the Sale and Purchase Agreement with the Fiducia Registration Office in Jakarta.
*That’s 6m in the bank expected anytime this week according to previous Announcement
LINK:
https://hotcopper.com.au/threads/ann-gulf-update.4111321/#.Wtz9-4huZaQ
- Gulf to undertake due diligence on high-grade Timorese manganese mine
Gulf will exclusively conduct due diligence on the concession up to 30 April 2018. Should the due diligence confirm the value of the acquisition to Gulf, it would be the intention of the Company to purchase the mine. The potential acquisition would support the secure supply of high-grade manganese ore for the Kupang Smelting Hub.
As at 31 December 2017, the dismantling and subsequent refurbishment of the furnace equipment in South Africa was largely completed, with only the transformers outstanding. The final step of the refurbishment program was the rewinding of the furnace transformers which was completed during Q1 2018. With the Master List required for importing the smelters now approved, Gulf is now working to finalise the shipping arrangements with the now containerised furnace equipment expected to depart Durban for Kupang during Q1 2018. The units will be shipped directly to the Tenau Port at Kupang which is approximately 5km from the Bolok Site.
Direct Shipped Ore (DSO) Licence Discussions to obtain the necessary permitting to enable the commencement of the sale and shipment of manganese concentrates (>49% Mn) (DSO) from Kupang are still progressing.
**Please do your own research.
"" Timeline looks like April will see a re-rate ""
