Just look at the likes of Celcius Resources Limited (CLA).
Based on their last quarterly I suggest they have $3m cash on hand.
Just released a maiden JORC of cobalt in Namibia of 126,100 tons of cobalt with a cut-off grade of 600 parts per million (0.06%) and they would have to mine and process 112.4 million tons of ore to extract it.
Turn up their cut-off grade to 2000 ppm and the total contained cobalt drops to 6,300 tons.
Know what else? It has an MCAP of $122m, 600m shares on issue.
So yes you might say oh but robbo24 they are a copper/cobalt sulphide explorer like COB.
And in response I would say MEI is a silver/cobalt explorer with potentially much higher grades, a much more accessible and historically active/politically stable mining area with similar cash on hand and an MCAP of $21m.
So by comparative standards, let's say MEI fast trick a maiden JORC resource within the next few months... Let's say it's comparatively high grade to the rest, and let's say it contains silver and possibly other base/precious metals... MEI stands to appreciate, big time.
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Mkt cap ! $222.2M |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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11 | 2924000 | 0.010 |
6 | 4510000 | 0.009 |
7 | 2258300 | 0.008 |
1 | 142857 | 0.007 |
Price($) | Vol. | No. |
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0.012 | 620532 | 3 |
0.013 | 1998837 | 5 |
0.014 | 926384 | 7 |
0.015 | 670000 | 2 |
0.016 | 1179000 | 5 |
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