12 November 2014
Gulf Minerals – Rights Issue Final Extension
Gulf Minerals Corporation Limited (ASX:GMC) wishes to advise shareholders of an extension to the
closing date of the current Entitlements Rights Issue until close of business 5pm WST, 26th November
2014.
The Chairman, Graham Anderson, and President Director of PT Internasional Mangan Grup, Michael
Kiernan, plan to do a roadshow next week covering Sydney, Melbourne and Adelaide to update
shareholders and interested people on the New Gulf moving forward. As such the directors felt it
appropriate to extend for a final time the closing date.
Gulf Chairman, Graham Anderson, commented ….."the board wanted to ensure shareholders had an
opportunity to meet with company representatives before the issue closed. We plan to hold informal
shareholder functions in Sydney on Monday evening and in Melbourne on Wednesday evening. Invitations
shall be sent this evening".
Gulf Minerals Corporation Limited (ASX:GMC) advises shareholders of the updated timetable for the
Entitlement Rights Issue:
Lodgement of Prospectus with the ASIC
13 October 2014
Lodgement of Prospectus & Appendix 3B with ASX
13 October 2014
Notice sent to Optionholders
13 October 2014
Notice sent to Shareholders
15 October 2014
Ex date
16 October 2014
Rights start trading
16 October 2014
Record Date for determining Entitlements
20 October 2014
Prospectus sent out to Shareholders & Company
announces this has been completed
23 October 2014
Rights stop trading
11 November 2014
Last day to extend Offer Closing Date
21 November 2014
Closing Date*
26 November 2014
ASX notified of under subscriptions
Issue date/Shares
security holdings
entered
into
1 December 2014
Shareholders’
3 December 2014
For further information please contact the Company Secretary, Piers Lewis, on +61 8 6555 2950
ENDS
Corporate Directory
Registered Office
Auditors
78 Mill Point Road
Somes Cooke
South Perth, WA 6151
1304 Hay Street, West Perth WA 6005
Telephone: +61 8 9367 9228
Corporate Advisor
Facsimile: +61 8 9367 9229
GULF MINERALS CORPORATION LIMITED
ASX : GMC
GDA Corporate
www.gulfmineralscorp.com
Geological Advisors
Postal Address
SRK Geological Consulting
PO Box 884
South Perth, Western Australia 6951
Manganese Ore and Alloy Developer
Mining Services Advisors
Golder Associates (Indonesia)
Legal Advisors
Christian Teo Purwono (Indonesia)
Environmental Advisors
Lemonis Tantiprasut Lawyers (Australia)
Marston Consulting (Indonesia)
Steinepries Paganin (Australia)
Pyrometallurgical Engineers
Bankers
SNC-Lavalin
ANZ Banking Group
Tenement Managers
PT ANZ Indonesia
M&M Walter Consulting
Australian Securities Exchange
Industry Associations
ASX Code: GMC
Australian Indonesian Business Council
Share Registry
Singapore Chamber of Commerce
Automic Registry Services
Indonesian Mining Association
7 Ventnor Avenue, West Perth WA 6005
Indonesia Institute
The New Gulf
Moving Forward
GULF MINERALS CORPORATION LIMITED
Developing Premium Indonesian Manganese Alloys
78 Mill Point Road South Perth Western Australia Phone + 618 9367 9228 Facsimile + 618 9367 9229
www.gulfmineralscorp.com
Directors
Smelter Process
Electrodes
Charge Feed
Off-gas
Air
Air
Charge
Graham Anderson
Non-executive
Chairman
Bruce Morrin
Executive
Technical Director
Peter Williams
Non-executive
Exploration Director
Michael Walters
Non-executive
Marketing Director
Slag
Metal
Paul O'Shaughnessy
Non-executive
Metallurgical Director
Schematic Cross-section of Submerged Arc Furnace
Company Secretary Senior Management
Manganese
Michael Kiernan
President Director
PT Internasional
Mangan Grup
Coke
Iron
Limestone
Raw Material Bins
Clean Gas
Piers Lewis
Company Secretary
Taphole
Clean Gas
Off-gas
+ Dust
Helen Halliday
Commercial Manager
Off-gas
+ Dust
Baghouse
AC Furnace
Baghouse
AC Furnace
Slag
Slag
Solidified
FeMn
Dust Collected
Solidified
FeMn
Dust Collected
to Slag Buyer
Company Vision
to Slag Buyer
Crushing &
Screening Plant
Produce a high quality cost-effective alloy
thereby creating shareholder wealth.
Crushing &
Screening Plant
Fines to Recycle
Fines to Recycle
FeMn Alloy
Alloying process flow sheet
FEED STORAGE AREA
FURNACE MODULES 3 & 4
Developing Premium Indonesian Manganese Alloys
SECOND FURNACE MODULE
PLANT FEED
Gulf Minerals Corporation Limited is an Australian registered company (ACN 059 954 317) listed on
the Australian Securities Exchange (ASX: GMC) with its head office in Perth, Western Australia.
The company is developing an ASEAN focused manganese ore and alloy producer. The facilities based
in the West Timor capital Kupang will take advantage of the low cost of ore, labour and power being
the majority of operating costs. Production will be a premium quality 78% manganese alloy resulting
from the unique qualities of the Indonesian high-grade low impurities manganese ore.
It is proposed to build 8 furnaces over a 4 year period for a total capital cost of $52m funded by a
dual listing on the Singapore Stock Exchange in the first half of 2015, modest project debt and
operational cashflow. Each furnace costing $5.6 million has a capacity of 20,000 tonne alloy
production per year, power will be supplied by a third party on a user pay basis.
FEED MEASURING
FIRST
FURNACE
MODULE
COOLING TOWERS
THIRD STAGE OFF GAS HANDLING
SECOND OFF GAS HANDLING
AIR GENERATION
OFF GAS HANDLING
COOLING TOWERS
Site expansion adding on modules
Directors
Smelter Process
Electrodes
Charge Feed
Off-gas
Air
Air
Charge
Graham Anderson
Non-executive
Chairman
Bruce Morrin
Executive
Technical Director
Peter Williams
Non-executive
Exploration Director
Michael Walters
Non-executive
Marketing Director
Slag
Metal
Paul O'Shaughnessy
Non-executive
Metallurgical Director
Schematic Cross-section of Submerged Arc Furnace
Company Secretary Senior Management
Manganese
Michael Kiernan
President Director
PT Internasional
Mangan Grup
Coke
Iron
Limestone
Raw Material Bins
Clean Gas
Piers Lewis
Company Secretary
Taphole
Clean Gas
Off-gas
+ Dust
Helen Halliday
Commercial Manager
Off-gas
+ Dust
Baghouse
AC Furnace
Baghouse
AC Furnace
Slag
Slag
Solidified
FeMn
Dust Collected
Solidified
FeMn
Dust Collected
to Slag Buyer
Company Vision
to Slag Buyer
Crushing &
Screening Plant
Produce a high quality cost-effective alloy
thereby creating shareholder wealth.
Crushing &
Screening Plant
Fines to Recycle
Fines to Recycle
FeMn Alloy
Alloying process flow sheet
FEED STORAGE AREA
FURNACE MODULES 3 & 4
Developing Premium Indonesian Manganese Alloys
SECOND FURNACE MODULE
PLANT FEED
Gulf Minerals Corporation Limited is an Australian registered company (ACN 059 954 317) listed on
the Australian Securities Exchange (ASX: GMC) with its head office in Perth, Western Australia.
The company is developing an ASEAN focused manganese ore and alloy producer. The facilities based
in the West Timor capital Kupang will take advantage of the low cost of ore, labour and power being
the majority of operating costs. Production will be a premium quality 78% manganese alloy resulting
from the unique qualities of the Indonesian high-grade low impurities manganese ore.
It is proposed to build 8 furnaces over a 4 year period for a total capital cost of $52m funded by a
dual listing on the Singapore Stock Exchange in the first half of 2015, modest project debt and
operational cashflow. Each furnace costing $5.6 million has a capacity of 20,000 tonne alloy
production per year, power will be supplied by a third party on a user pay basis.
FEED MEASURING
FIRST
FURNACE
MODULE
COOLING TOWERS
THIRD STAGE OFF GAS HANDLING
SECOND OFF GAS HANDLING
AIR GENERATION
OFF GAS HANDLING
COOLING TOWERS
Site expansion adding on modules
Corporate Directory
Registered Office
Auditors
78 Mill Point Road
Somes Cooke
South Perth, WA 6151
1304 Hay Street, West Perth WA 6005
Telephone: +61 8 9367 9228
Corporate Advisor
Facsimile: +61 8 9367 9229
GULF MINERALS CORPORATION LIMITED
ASX : GMC
GDA Corporate
www.gulfmineralscorp.com
Geological Advisors
Postal Address
SRK Geological Consulting
PO Box 884
South Perth, Western Australia 6951
Manganese Ore and Alloy Developer
Mining Services Advisors
Golder Associates (Indonesia)
Legal Advisors
Christian Teo Purwono (Indonesia)
Environmental Advisors
Lemonis Tantiprasut Lawyers (Australia)
Marston Consulting (Indonesia)
Steinepries Paganin (Australia)
Pyrometallurgical Engineers
Bankers
SNC-Lavalin
ANZ Banking Group
Tenement Managers
PT ANZ Indonesia
M&M Walter Consulting
Australian Securities Exchange
Industry Associations
ASX Code: GMC
Australian Indonesian Business Council
Share Registry
Singapore Chamber of Commerce
Automic Registry Services
Indonesian Mining Association
7 Ventnor Avenue, West Perth WA 6005
Indonesia Institute
The New Gulf
Moving Forward
GULF MINERALS CORPORATION LIMITED
Developing Premium Indonesian Manganese Alloys
78 Mill Point Road South Perth Western Australia Phone + 618 9367 9228 Facsimile + 618 9367 9229
www.gulfmineralscorp.com
GULF MINERALS CORPORATION LIMITED
78 Mill Point Road
South Perth WA 6151
Ph: +61 8 9367 9228
Fx: +61 8 9367 9229
Em: [email protected]
www.gulfmineralscorp.com
ACN: 059 954 317
About Gulf Minerals Corporation Limited
Gulf Minerals Corporation Limited is an Australian registered company (ACN 059 954 317) listed on the
Australian Securities Exchange (ASX: GMC) with its head office in Perth, Western Australia.
The company is developing an ASEAN focused manganese ore and alloy producer. The facilities based
in the West Timor capital Kupang will take advantage of the low cost of ore, labour and power being the
majority of operating costs. Production will be a premium quality 78% ferromanganese alloy resulting
from the unique qualities of the lndonesian high-grade low impurities manganese ore.
It is proposed to build 8 furnaces over a 4 year period for a total capital cost of $52m funded by a dual
listing on the Catalist Board of the Singapore Stock Exchange in the first half of 2015, modest project debt
and operational cashflow. Each furnace costing $5.6 million has a capacity of 20,000 tonne alloy
production per year, power will be supplied by a third party on a user pay basis.
The first two furnaces will be built during 2015, coming online January 2016, with a further two furnaces
each year, 2017, 2018 and 2019.
During construction Gulf shall be exporting 50% plus manganese ore to provide early cash flows and
from 2015 the annual exports would commence at 60,000 tonnes and increase by 30,000 tonnes per year
to 180,000 tonnes in 2018. Ore will be sourced from West and East Timor together with other localities.
Value adding ores is strongly encouraged by the lndonesian Government to enrich the country's mineral
endowment thereby enhancing the economy and creating employment.
All initiatives to value adding have full support from all levels of government and GMC will benefit from the
Government's Financial lncentives Programme which effectively will result in a 5 year tax holiday,
together with other tax exemptions.
The company is investigating potential manganese exploration targets in Turkey to augment the
company’s strategy of becoming a fully integrated global manganese ore and alloy producer.
It is proposed to make an application for Gulf to dual list on the Singapore Catalist Board to broaden the
shareholder base and introduce a range of new international shareholders as the company moves
forward with its plan to build a fully integrated ore and alloying enterprise based in West Timor.
Ore
Processing
Tapping
Developing Premium Indonesian Manganese Alloys
AUSTRALIAN SECURITIES EXCHANGE
Alloy