Obviously we all hope for much more but I was trying to set a...

Obviously we all hope for much more but I was trying to set a conservative figure based on a recent transaction.

Last night news out of Canada.

I’m still in half disbelief, but First Cobalt, a company with a $240m MC and no defined cobalt resource or drill holes that indicate one will be defined has just acquired a company with a 1.3mt 0.59% cobalt resource for $149m. There’s nothing special about this deposit, in fact it’s high in arsenic and requires extra treatment to take into production. 7Kt of cobalt for $149m.

Cobalt price has moved up again, and this is before Gecamines begin their artful negotiations.

I hope nzuri trench the hell out of all our outcropping cobalt targets.