TAR 0.00% 1.0¢ taruga minerals limited

Ann: Drilling commences at Kamilombe and Mwilu Projects, page-15

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  1. 5,342 Posts.
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    The big kicker for me with this stock is just how quickly TAR have the potential to move to actually producing Cobalt for sale! We could see production by September 2018 once DD is completed. Compare stocks like COB that won't  produce any Cobalt for market until late 2020 at the earliest. I know where i'd rather invest!

    "The Company, accompanied by Mr Rhett Brans, recently conducted a site visit to evaluate the potential for an early small scale mining operation at Mwilu where artisanal miners are recovering high grade cobalt from surface."

    "Mwilu and Kamilombe are currently being mined at shallow levels by artisanal miners to generate income to fund ongoing development projects by the Project owners, Mint-Master and the Government of Lualaba Province."
    "Additional shallow holes will be drilled to confirm the grade and metallurgy of near surface mineralisation for potential small scale early production."

    Cobalt currently selling for US$90,000/ tonne.

    The high grade surface Artisanal Cobalt is exposed at surface over a strike length of at least 3km with widths estimated at between 5 and 10 metres. Thats a lot of Cobalt likely to be grading in the 2% to 4% range. It's also extremely low cost to extract this high grade Cobalt at surface.

    Recent channel sample results announced on 4 April 2018 included:

     0.7m at 16.2% Co (northern exposure)
     1m at 3.89% Co (southern exposure)
     2m at 4.81% Co (southern exposure)
 
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1 4134848 1.0¢
 

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Price($) Vol. No.
1.1¢ 249009 2
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