Exactly, CFE has a 70% stake in a readily accessible cobalt resource in the tailings dam that is surrounded by the Mopani mining licence area, of which Gelncore is the major shareholder. Glencore has signed a large contract for the forward supply of cobalt and will need all the resources it can get its hands on.
It would be surprising if Glencore doesn't at least have a sniff at the Zambian project that CFE has acquired.
CFE Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held