Hi whytee,
Because TAS said this in their RI Prospectus,
4. to continue to financially support Eden and Conico Ltd (ASX Code: CNJ) (“Conico”) by way of a loan or by subscription to further equity issues if and when this may be required.
You’ll note that Conico have approx $250k cash. Who’s going to fund them?
Did you read the Mt Thursty PFS in mid 2018?
I made this post at that time,
https://hotcopper.com.au/threads/the-secret-to-success.4320482/page-16?post_id=34560252
Since that post, the Cobalt price has halved and the CNJ share price has fallen from 5.3c to 1.9c.
http://www.infomine.com/investment/metal-prices/cobalt/
All the best.
Opinion From Rolling, page-34
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