GMC 0.00% 0.6¢ gulf manganese corporation limited

Dennie, you don't build a state of the art smelter complex for...

  1. 4,695 Posts.
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    Dennie, you don't build a state of the art smelter complex for peanuts. OMH didn't go down the path of buying 2 x 50 year old second hand junk from cash converters. Nor did they dilute shareholders by issuing billions of shares. OMH originally borrowed the money ie more than $650 million. More than $100 million was repaid just last year and they currently owe around $400 million and will reduce by another $100 million this current year.
    You don't build one of the worlds largest smelter complexes without borrowing money, if you do it like GMC you just end up with a pile of outdated junk.
    That pile of outdated junk will cost GMC 6 billion shares for a 50% share by the time its finished, and then it will be impossible to make money because input costs will be too high to make a profit.

    wowogo, when OMH starts paying a 10c divi next year I really don't care how much the CEO gets paid.
 
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