Mining companies would be keeping a very active eye for cobalt/copper projects especially ones that can be scaled up to become much larger projects. They have business development teams/people looking for projects. Believe speccy mentioned that our management have been aproached and wanted access to the data room (basically a lot of technical data about the project) but said that they weren’t interested in opening it up at this stage and will only do so after the FS and further exploration drilling. It is well within their right to do that - they believe that there will be more value after the feasability study. To be fair - its highly likely that at least the larger mining companies would also want to see a feasability study showing good metallurgical results/recoveries and have the boxes ticked on the environmental/heritage side i.e there are no massive deal breakers to build a mine. Not to say you can’t get a more opportunistic smaller player that lobs a bid based on info to date but less likely especially without the metallurgical info (*and the blessing of OCP).
Also for the exploration side, right now for 20km potential strike AML are saying we believe there is mineralisation based on the exploration of 10k. However the exploration upside becomes a much more convincing story to a potential acquierer when you drill every couple of kms just like it did with the new ‘Amy’ zone and hit good mineralisation.
AML Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
