cobalt beats uranium sensational deal, page-13

following on from a better understanding of the cobalt market fullbottle I've gone to a 1.5% nickel recovered nickel equivalent on that first 3 million tonnes, which gives us a new cash flow of $500 to $600 million.

I'm still being conservative as I really believe cobalt could spike through $100 given the market dynamics, price inelasticity of both demand and supply and that 40% cobalt comes out of the Congo Branch of the Communist Party of China.

2% nickel equivalent is not impossible!

Can't see Mr Le Page talking these figures on paper, though secretly he may agree!