Firstly I notice you didn't mention the gold over 30g/t AU and the copper over 30%Cu, because it wouldn't suit your interests i assume or completly have no knowlegde of it all to even discuss it.
So heres the thing, the reason the market likes the cobalt is that firstly it is higher grade than other stocks that are currently running & Secondly it's at surface. Now anyone in the mining industry is aware that Cobalt leaches upwards and if this is over 1,000g/t or ppm which ever you like to use (both mean the same thing) then the grades under will more than likely be carrying high grade. Also remember this is early days and the fact that its carrying cobalt from the surface is very attractive and will draw speculators.
Mt Isa mines is an example it had an 18" wide orebody on the top high grade in copper/zinc and lead, but was on the surface. When they drilled they went through 300m of three different orebodies of high grade zinc/lead/copper. So if you know the geology in this area then you know why this stock is now attractive. Also the fact it has black shale may lead towards a strata bound style of mineralization like the old century zinc. Having black shale and parallel to that high grade Cobalt on surface and 30g/t gold and 30% copper next to it is in my opinion the best bet of the ASX and of course it's better to be in early right.
I can only assume you have looked over the presentation with all the other high grade gold and copper being found and the geophysical results on the west end of Mt Freda with a massive anomaly running for a kilometer. I also looked at some old reports and the company that used to own Mt Freda and Gilded Rose was Diversified Mineral Resources until 1987.
That company only owned these two projects and was trading at $1.68. AMG owns both of these projects and is trading at 8c. Gold was then $250 ounce and now its $1680 ounce so just these two projects alone make AMG a $1.00 stock now or more.
They have 200,000 tonnes above ground stockpiled with 34,000 ounces around $64m of gold ready to be processed and seems only waiting for the approvals. This company is a no brainer. They also have geological targets of 1.5m ounces and They are currently drilling a JORC resource on both Gilded Rose and Mt Freda and getting great intersections of high grade gold.
Even if you believe your correct in the grade of the 1m lbs of cobalt at Mt Freda gold project there is still a JORC resource on it of 1 million lbs and even if low grade can be mined and processed and recovered as a by-product of the gold. The cost would only be the Cobalt circuit. All of the mining and the crushing and grinding would be absorbed by the Gold and the Cobalt a credit. 1m lbs Cobalt today is worth $US20m and its for nothing just an added process float section at the back of the plant.
