Gulf Manganese Announce $1.8M Rights Issue to Further Progress Kupang Smelting Hub

Gulf Manganese Corporation Limited (ASX:GMC) announced a 4 for 1 renounceable rights issue at 0.2 cents per share, with 1 free attaching listed option (exercisable at 0.5 cents within 36 months from issue) for every 2 New Shares issued, to raise up to $1.8 million before costs with a minimum raising of $0.5 million.
Upon completion, net proceeds and existing cash reserves will be deployed towards the following key objectives:

• Further advance Gulf’s main project which is development of the manganese alloy facility in Kupang, West Timor,
• Identification of a strategic partner to assist with the planned development of the Kupang Smelting
• General working capital

Connect with Gulf Manganese Corporation Limited (ASX:GMC) to receive an Investor Presentation.