A refresher on MEI and the significant opportunity relative to peers:
MEI is such a massive opportunity for us, and frankly being a bit missed by the greater ASX community
- CLQ - about $970m MC and .13% cobalt grade
AUZ - about $220m MC and .11% cobalt grade
ARL - about $236m MC and .09% cobalt grade
MEI - about $39m MC and HUGE cobalt historical grades of greater than 10%!! (dont forget that 6 ton bulk sample at 15% average grade Co with 279 g/t Ag from earlier this year)
Let's do a closer comp on AUZ:
MC $220m
Has 54,500 tonnes contained cobalt in 89,000,000 tonnes dirt (see AUZ annual report)
based on MEI being a world class resource @ 4% cobalt grade only has to move 1,500,000 tonnes dirt at get same cobalt
economics on MEI are insane
low CAPEX due to high grade vs high capex of all the low grade players
As previously mentioned - Midrim is a world class Cu-Ni asset currently being drilled. Post cap raise, this is very exciting timing for holders since run up and news into 2018 is going to be significant. These levels won't be here to buy for long!
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Open | High | Low | Value | Volume |
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11 | 2924000 | 0.010 |
6 | 4510000 | 0.009 |
7 | 2258300 | 0.008 |
1 | 142857 | 0.007 |
Price($) | Vol. | No. |
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0.013 | 1998837 | 5 |
0.014 | 926384 | 7 |
0.015 | 670000 | 2 |
0.016 | 1179000 | 5 |
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