Chin up mate, have a good run. As you say this is a really intelligent move which companies almost never make. It doesn't benefit them. Zero swill.
Tie up that cash and wait it out. SS and resource upgrade cost big money and it sounds like there's a metallurgy spend required. They'll land the other side of the mothballs to give CLA a heart-starter.
This is one of the most honest, thoughtful and selfless moves I've ever seen a board make and it supports everything you've been saying for 6 months. It's out of your hands, great resource, bad timing. Other Co plays will now need to follow or face ridicule. More to come imo and the sector to be dumped further.
Short term, nobody will like it and many will sell. It's an impatient world. This is one way, basically the only lever management had, to show some leadership and actually improve the Cobalt price. If 3 or 4 follow and now I believe they almost have to, forward supply contracts will slowly start to carry a premium. There will be a really nice entry point for this and others like it at some stage. Maybe sooner than we all realise.
In the meantime, good luck, chill out and make some money to invest rather than sell this at a big loss. Cheers.
CLA Price at posting:
4.7¢ Sentiment: None Disclosure: Not Held
(20min delay)
