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2.4¢ winmar resources limited

https://www.tradingview.com/x/h40pxGCo/I wish i had a cup on all...

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johnybg

83 Posts.

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12/03/19

21:25

Post #: 37738483
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Originally posted by ozblue: ↑

@Mrmena112

Do you realise how ridiculous those numbers you posted are?? To get 12,000 tonnes of Cobalt the 'feed' would need to be around 6% Cobalt!!
The company has contracts for 1% and we have no idea what the recovery will be!!.
Assuming 70% recovery it is easy to work out......

250,000t/a X .01 (1% cobalt) X .7 recovery = 1,750t for the plant, only half of which will belong to WFE so 875t. Then you need to look at payability for the Cobalt Hydroxide, again probably around 65-70% of LME or Metal Bulletin price.

There is no way the company nor plant revenue will be any where near $472m you mention, and that is from the company's own numbers.

IMHO they have a long way to go just to get to the starting line, and there is no guarantee it will even be allowed as a prospectus for readmission by the ASX. They should have a timeline for readmission as the first priority, yet nothing about that today.

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https://www.tradingview.com/x/h40pxGCo/
I wish i had a cup on all my charts.
50% not unrealistic. FWIW,

WFE Price at posting: 2.4¢ Sentiment: Buy Disclosure: Held
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