Glencore basically sold 100% of the interest in the minerals to LiCo along with a requirement that they off-take to Glencore, pay a 3.5% NSR and if they find $100m of cobalt then Glencore can buy back 51%.
LiCo then JV'd out 60% of that to Surge.
So Glencore is active in the area but I suppose they are looking for other people to do the work.
LiCo 5-bagged for a while after the initial announcement but has fallen back a bit lately.
Anyway, there's lots going on in the Cobalt region. Plenty more interest will follow. It's good to see MEI has been snaking out the good ground before every man and his dog is there.
MEI Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
