First of all it is not just the cobalt price it is also the processing/recoveries that is the issue with this deposit In the announcement they mention they are going with a conventional roaster for their scoping study/Pfs. Now the concentrate recovery was 80% and will be around 65% recovery from a roaster (based on other operating roasters in DRC). Overall cobalt recovery would be 52% best case!!!
I mentioned a year ago that they needed a roaster but most invested at that time believed that they would use an autoclave... hope at least some people did more research as a result.
Anyway my sympathies for people who have lost money on this. Never put too much faith in CEOs and posters on HC. Always DYOR.
CLA Price at posting:
4.7¢ Sentiment: None Disclosure: Not Held
(20min delay)
