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27.0¢ nzuri copper limited

And that resource wasn't even JORC compliant, and I believe UG....

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binwood

7,151 Posts.

2294

16/03/18

11:22

Post #: 31802533
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Originally posted by mineralised ↑

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.

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And that resource wasn't even JORC compliant, and I believe UG. Either a monumentally ridiculous deal or it should be a rerating event for any half serious Cobalt project.

NZC Price at posting: 33.5¢ Sentiment: Buy Disclosure: Not Held
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