AGAINST: 1. A company with supposedly the deal of the year...

AGAINST:
1. A company with supposedly the deal of the year (sounds too good to be true status)
2. A man in charge who many say is suspect
3. An organisation that over the past few years has let its sp slide to new lows
4. The prospect that a cap raising is around the corner.
5. A dubious government deal in a high risk country.

FOR:
1. Cobalt, cobalt, cobalt
2. Near term production (six months) and low capex.
3. Historical grades may be nearly accurate although I am weary of XRF sampling as you just go to the best patch.
4. Annual EBITDA at full production (if they get there) is nine figures
5. Company has a low MC
6. Discussions with major commodity trader to fund working capital requirements (in lieu of cr ?)
7. Due diligence to date shows no areas of concern with completion expected by end of March.

I haver bought but then I have a larger risk appetite than most, and do get hit with losses along the way.


Spozzie