Price of Cobalt dropped from $33 to $13 according to BHP open sales. However when they dropped the price they sold more cobalt in a few days than they had for months. Mt Thirsty is solid at $20 a pound cobalt given they may be able to run it as a pure cobalt mine and forget the nickel. That halves the CAPEX . They simply dont bother trying to extact the nickel via the leaching since the acid requirements are quite high. They (we) are lucky they have this option and it another unique feature of the deposit
given the increasing push towards electric cars I still feel this stock will really deliver in a year or so once "normal " trading recommences on world stock markets!
it comes down to how much dilution goes on to raise capital and the structure of the CAPEX financing. My feeling is they will do an offtake with a Chinese or Jap battery maker who can then finance the mine
FIS Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
