independent valuation of luapula plant, page-156

Just because there is an off take agreement does not mean upfront payments or cash in the door.

IMO people here mean upfront payments associated with an offtake agreement, but as has been commented on before, what incentive is there for any company to give WFE an upfront payment??

It is not like WFE have a resource that a company can have a mortgage over, nor any other collateral, so what would a company receive as security to give WFE an upfront payment?? There is nothing, so how do WFE pay for the $US10m to get the plant up to and operating??

If WFE was ‘worth’ 2.4c/sh when the share price of cobalt was $US86,500/t then it is certainly ‘worth’ a LOT less when the price of cobalt is around $US30,000/t. That part is simple economics 101.