Since the last announcement there has been little activity on either the share volume traded or on this forum. You can assume from those two glaring signs, that the people are locked into CFE and waiting on the results of the drilling program to place a value on it.
It can still go either way, we could have bought mining rights on a large quantity of a high value metal heading into a peak of its pricing. Or we could have bought a pile of mud in on of the most unstable environments in Africa.
Indicates we have received environmental approval on Kitwe, 17.7M tonnes at UPTO 0.43% Cobalt. Lets do some maths on that ....
17,700,000 * 0.0043 = 76110 tonnes of Cobalt.
= UPTOP $570M USD ($721M AUD) of cobalt in Kitwe.
Lots of potential at this one plot to push the share price up into the mid 0.10c mark.
----- WARNING GUESSING GAME BELOW BASED ON 75K USD PER TONNE -----
Hypothetically lets say averaging at 50% of the max value 17.7M @ 0.0021% = ~$352M AUD.
Now take away mining costs, bribes, shipping etc to get it all out of the ground and into Elons hands... say $150M AUD round figure = $202M AUD.
$202M = ~ 0.23c per share at one of 3 plots
Can someone check my maths and assumptions?
CFE Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held
