value, page-31

This week the value of CNJ has rocketed because of cobalt being in short supply due to a major producer being closed down for major reconstruction and will not be back in operation before 2018. However CNJ is only a holder of a deposit and not in a position to take advantage of the short term position. I'm not sure of where they will be by 2018. They do add value to TAS. Tas cashed in on that value when they spun off that arm of TAS. The Solomons benefited from that spin off as they hold a large percentage of CNJ and receive management and directors fees and probably legal fees as well. It is questionable what TAS itself will receive at this stage. Having a deposit is one thing, getting value from that deposit can be another. Lynas is a good example with a Crown deposit of rare earths worth billions but there is little chance that it will be mined in the next 20 years. NTU is another in the rare earth field with similar problems.

I hold CNJ but I am looking at unloading if its value rockets beyond the value I place on it. TAS gets some value from its holding in CNJ in my calculatios of the worth of TAS but not a lot at this stage.