following on from a better understanding of the cobalt market fullbottle I've gone to a 1.5% nickel recovered nickel equivalent on that first 3 million tonnes, which gives us a new cash flow of $500 to $600 million.
I'm still being conservative as I really believe cobalt could spike through $100 given the market dynamics, price inelasticity of both demand and supply and that 40% cobalt comes out of the Congo Branch of the Communist Party of China.
2% nickel equivalent is not impossible!
Can't see Mr Le Page talking these figures on paper, though secretly he may agree!
FIS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
