GMC 0.00% 0.7¢ gulf manganese corporation limited

You realise GMC only own 74.9% of the Project? The other...

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    You realise GMC only own 74.9% of the Project?

    The other Cornerstone Investor owns 25.1%

    The CI also receives 2.5% royalty and the first $5.0M.

    So if sale price is $300US - first 2.5% royalty to CI = net sales price $292.50 less supply $170 = $120US x 103,000 etc..

    Then the CI is entitled to 25% as they own 25% of the Project.

    Then of GMC's 75%, thr first $5.0M will be used to repay the loan.

    On the back of the above, I sense GMC will probably require another working capital Capital Raising down the track!

    Screenshot_20190521-215916.jpg
 
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