Hey @apkjm, I remember when we were dishing this speculation out in early 2018. Check this out - a few quotes from some articles I remember reading a while back.
Three copper-cobalt permits in Katanga.
The JV partnership comprises three copper-cobalt permits in the heart of the Katanga segment of the Central African Copperbelt in the DRC.
These are the Musonoi PE4962 equivalent to 1.683km2 just 3km west of Kolwezi; the Kamukongo block PE663 some 5.268km2 in area and about 20km southeast of Kolwezi, and the 3.503km2 Kasombo South permit (PE2360) just west of Lubumbashi.
The project now encompasses important and highly prospective hard rock interests, and not the tailings which were the original objective in the conditional agreement outlined back in September 2017.
The hard rock assets are expected to be higher grade (circa 3.5%+ copper and 0.5%+ cobalt) and to provide for much greater development and exploration upside potential than tailings projects.
Andrew Bell, Red Rock’s chairman, comments: "After due diligence, and following substitution, and the provision of alternatives in compensation for assets shown to be unavailable, we consider, following discussion with Gécamines experts and with our consultant geologist, that the assets now forming the Project justify proceeding with the transaction.”
^ This is interesting. I wonder what assets they might be referring to that have transpired to develop in the time frame of these articles...VTM: Please can you give more background about Red Rock’s relationship with Cobalt Blue and how the deal came about.
AB: Cobalt Blue is an Isle of Man vehicle created by the interests of 1620 Capital Pty Ltd of Perth and Exchange Minerals.Jason Brewer, a key principal of 1620, has been known to one of our NEDs for some years and I believe I have come across him. John Boardman we know less well. The key principal of Exchange Minerals, who introduced the transaction, I have known for perhaps seven years and I have a high regard for his experience and reliability.
We started discussions with Cobalt Blue in early September about the deal. Over the course of the month we exchanged over 150 emails and held numerous discussions. We have also extensively discussed the project internally and with the Nomad.
http://www.valuethemarkets.com/index.php/2017/10/13/exclusive-vtms-punchy-interview-andrew-bell-red-rock-resources-ref-drc-project-rrr/
I always thought that Boardman was running around collecting licenses acting under cobalt blue for the JVco with RRR. Having grilled Brewer on this, he told me that RRR was not in his interest as he was after Hard Rock, not tailings. Also, he said that he had nothing to do with Boardman at that point in time, but wouldn't rule out working with him in the future. Looking back through these articles now, since we're in the dreamers sections, I may posit that the grades and mentions of developing assets/hard rock interest by RRR are now more in line with Winmars projections, reports and announcements, whereas they were initially very vague, simply mentioning Cobalt Blue. Anyway, we're been here last year, so I won't go into it too much, but may be good for new investors to read up on all this.
Regards,
Vic.
