Thank you for gracing us with your long awaited presence...you obviously have cleverly mulled over this response so as to arrive at a flawed interpretation of the announcement....let me clear things up for you...
1. The 7 ore processing agreements have been strategically negotiated to supply “short term” 100% run of the mine feed..this is so we go to cobalt production immediately on relisting and with guaranteed processing for the first 12 months and possibly for 24 if extended...the elephant in the room was the bonanza 600,000tpa which is 2.5 times nameplate capacity...this also alluding to much more work than expected completed on the plant over the last 6 months...WFE have also been true to their word in sourcing 1% minimum cobalt grades and also 2.5% copper minimums as part of their margin modelling requirements
2. The “longer term” plan which has always been part of the business strategy outlined in early announcements is to use the near term cash flow to concurrently explore, complete feasibility and mine their own “several exploration licences”
Remember three pronged cobalt production strategy
A. Short term supply contracts from other miners
B. Short term artisanal Kumi approves feed...further announcements me thinks
C. Using the near term cash flow to explore and mine the crap out of their won licenses
The surprise for everyone was the 7 contracts for the +600,000 tonnage....the prospectus will like I said be the economics eye opener....stamina remember...must be hard waiting on the sidelines....next stop the Airguide offtake agreements
WFE Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held