As stated in the quarterly activities statement - "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."
If this has been denied as some are suggesting it would have to be disclosed in an announcement.
Patients is required. Great time to buy/ accumulate at low prices in my opinion.
Once first two furnaces are commissioned which will hopefully be second half of the year this stock will be sitting in a very different position.
DSO approval should rerate the stock price considerably when it comes as the cashflow it will produce derisks the momentum / timeframe of completing operational milestones.
It is having an adequate supply and producing from the first two smelters (hopefully H2 of this year) that is going to put GMC in a strong financial position for the future. Once at full production with the 8 proposed smelters there may be alot of regret for those without the patience. Time will tell. Unfortunately there is no crystal ball.
Until then lets hope its a smooth ride with minimal hiccups.
I for one at this stage am in for the long run.
GLTA
GMC Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held