And the sp goes down on low volume.. The funding requirements...

And the sp goes down on low volume..

The funding requirements are not very big.. for the smallscale mining..

They expect decent metalurgical results cos artisanal miners already are processing their ore to decent level.. (some of them.. that is)..
So tar with bigger financial might should be able go even better artisanal miner efforts..

I expect a starting funding requirement to only be a couple to a few mill or so..
Needeless to say that if local government is part of the jv at 40% take.. that some local or regional debt facility might be in order...

So in general.. no massive share dilution needed..
For a dozer and or excavator and the separation/processing machinary needed to make the saleable cobalt product richer in cobalt than the 0 3 to 0.52% inground range..

Operating costs will be lower than elsewhere..
Decent cashflows expected already in 1st 6 to 12mths.. definitely expect a value of absolute minimum of say 5mill freecash to tar net on annual basis.. but more likely above 10mill or so..
Meaning that incremental drillout of mwilu and kamilombe resources starts within a 3 to 6mths of smallscale mining startup...
I would expect some 200k to 300k tonnes cobalt equivalent resources to be delineated..
Inferred resource coming from widely spaced 200 or 300m wide spaced drills then tighter measured resource from denser spaced drilling..

Over the nxt 12mths this could happen..
At that stage the marketcap should reflect closer to 3% of the inground value as it will be in a state of preproduction/financing for the larger scale projects.. which would indicate 3% of 10bill to 15bill aud inground value or marketcap of about 300 to 450mill aud.. versus todays marketcap of 11mill aud..

Hmmm..
Interesting prospect ))