GMC 0.00% 0.6¢ gulf manganese corporation limited

I think the question is what was the point of that announcement?...

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    I think the question is what was the point of that announcement?

    Has DSO been achieved yet? - NO
    Has second tranche of funding (dependent on DSO) been received yet? - NO

    DSO has been "imminent" for a long long long time now, and I have lost count of how many final steps and applications there have been along the way.

    Now it is still subject to:
    1. Lodgement of the RKAB with the Ministry of Energy and Mineral Resources - how long will this take to procees
    2. Re-assaying of samples - how long
    3. Obtaining a Certificate of Analysis - how long
    4. Certificate of Analysis will be lodged with MEMR - how long to process

    GMC have provided indicative timelines - but how often have they met them, especially given this is in Indonesia. After all the whole reason they need the re-assay in the first place is due to the delays.

    Surely you rather an announcement that says DSO has been finalised and funding received - simple?

    And @Aghiorlym, in an earlier post you stated:

    https://hotcopper.com.au/threads/gm...post=true&direction=previous#.XHi2z4gzavg

    "do the math ! , the only way to get options profitable for the company and the option holder is to ask the Top20 to push the selling price to 1.3-1.5 and bring new buyers ( day traders as well ) to the game"

    Don't you think this announcement is a bit of a coincidence?
 
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