Hmm... a ~50% premium hostile takeover of NZC valuing NZC at $114 million. The Chinese seems VERY keen indeed.
https://hotcopper.com.au/threads/ne...lias-nzuri-copper-for-a-114-0-million.4653321
NZC has Ore Reserve (Kalongwe) of 7.99Mt at
2.94% Cu and
0.34% Co for
234,868t of contained
Cu and
27,102t of contained
Cobalt. Their proposed
1,000,000tpa plant requiring CAPEX of ~$79 million AUD will churn out
1370 tons per annum of Cobalt.
Bodes well for WFE who with say at minimum of ~1.0% Cobalt feed at ~80% recovery at ~600,000tpa will produce around 5000 tons Cobalt per annum MINIMUM.
More than three times the NZC proposed plant with no Debt funding required! 3X!
At ~1.5% Cobalt grade, we will produce close to ~7,500 tpa Cobalt.
5X NZC Processing Capacity! Five times... Even at 250,000tpa, we'll still do more than
2X the production
. Very interesting times for WFE ahead, notwithstanding the fact WFE will be capable of funding future exploration and JORC of own exploration licenses and converting them into mining licenses from own cash flow. In short, using own cash flow to fund growth.
Me thinks our Chairman Jason is definitely in for the long haul and one really looks forward to what eventuates from Jason's trip to Europe. Hopefully the upcoming plant valuation and offtakes (when they eventualise) will fill some of the few remaining pieces of the puzzle as we proceed towards the prospectus and re-listing.
The more we wait, the more it feels like all of us holders here have become
early VC seed investors in an emerging Major Cobalt Producer with shares locked up whilst the company progresses towards an IPO. No doubt a frustrating wait fraught with uncertainty but in my opinion the rewards will more than justify the wait, especially with Cobalt Bull 2.0 around the corner. The Chinese are definitely feeling the heat now! More competition coming and rightfully so!
U.S along with Erik Prince looking to secure Cobalt resources in the DRC. European Carmakers, Japanese and Korean Battery makers also moving quickly to catch up and secure their own supply chain. Oh and lest we forget, India is now joining in the EV race albeit not as aggressively as the Europeans have been lately.
What an exciting time to be alive...and be part of this irreversible paradigm shift in transport; the EV revolution! My only wish, is to see to it that WFE is realised to its full potential
