On the 21st Feb 2017, CFE announced their Cobalt play - so...

On the 21st Feb 2017, CFE announced their Cobalt play - so nearly 18 months down the track and on the eve of another deadline I thought I would check up on their delivery to commitments.

Summary Acquisition Terms The Company has executed the Agreement with Paragon to establish a new joint venture company (JVCo), with the following objectives:
(a) to commence mining activities at Kipushi within 6 months;
(b) to immediately commence exploration activities on Kasombo;
(c) to complete a Feasibility Study on Kasombo within 18 months;
(d) to commence mining activities at Kasombo within 24 months; and
(e) to identify and secure other copper, tin, zinc, and cobalt projects in the DRC and Zambia to advance towards commercial production.

The Company and Paragon will each be 50% shareholders in JVCo.

a) Still not operational - tracking to be 18 months behind schedule.
b) Achieved fuzzy objective but no production Cobalt found.
c) High Risk - No sign of this one happening by 21st August 2018, drill results have not been good.
d) High Risk - No sign of production quality Cobalt to mine.
e) High Risk - Kitwe is the only additional site and that is held up by red tape, I dont expect it to go through.

On 1/3/2017 @PDAC Convention Toronto, Canada it was published. Page 20
Q3-4 all works required for Kipushi tailings operations
Q4. Commence production at Kipushi

On top of this
  - CFE is not funded for production activities.

  - 14 months since legal proceedings against Timis Mining commenced and no update for  year. (He is now a shareholder in FEL)

There will be some out there that shout downramp, but the reason I post this is to set expectations for those who are expecting CFE to deliver on their proposed timeline of the PFS arriving tomorrow and production by the end of the year.

Fingers crossed that tomorrow is the change of fortune for CFE.