They have possibly drilled enough at Midrim/LaForce for a JORC...

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16/04/18

13:59

Post #: 32482309
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Originally posted by robbo24 ↑

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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They have possibly drilled enough at Midrim/LaForce for a JORC but that is Cu-N-PGM with some Co..

Drilling is just beginning at Mulligan and hasn't started yet at Iron Mask....I don't expect a JORC from either before end of year...

CLA's JORC is 126.1k contained @0.11 with cutoff grade at 0.06...They have also said from drilling that they have 50% more than the 126.1k and they still have 85km of strike they haven't begun to drill yet....

I own MEI and CLA as well as a few other top cobalt plays and I'm happy with all of my holdings and hope everyone succeeds..

MEI Price at posting: 3.8¢ Sentiment: Buy Disclosure: Held
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They have possibly drilled enough at Midrim/LaForce for a JORC...

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