After taking time to digest this my thoughts are as follows.
- The cobalt grades reported are too low to be viable to produce on their own, by my amateur calculations we would need an average of 0.49%. Does the high grade copper content make the whole play more sustainable?
- This is only one of many sites, CFE will have some hits and misses. The problem is actually how this miss will impact the ability to fund further exploration, capital raising will be harder and we are closing in on broke with a lot of cash owed to the tax department.
- The velocity of these activities further stresses the chance of hitting it big before we run out of cash. With such a high wage bill and operating costs, will we see the next 6 months even if the 2 million is raised.
- Are we still paying the metal broker guy, doesn't seem to have delivered anything at all. No offtake funding agreement.
- FEL is in a world of hurt if they don't come up with some production ready cobalt in the next 3 months.
- I wish they would stop quoting artisan miners results, it means nothing and is the explorer equivalent of homeopathy.
- Brewer leaving at that time becomes suspicious to his motives, was he aware of the poor quality of this and other CFE investments and has decided to cut his losses.
- It is good that Muller is leading the communication and possible purchase of shares.
- We are 2 - 3 weeks from the expected completion of the processing plant engineering review. We need positive news from this part of the programme as it is one of the top selling points.
Overall, bad start, missed targets but still a long way to go.
CFE Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
