I thought I resurrect this thread since we are expecting the cobalt results from the Mukabe-Kasari project.
I hope you don't mind
@NormanW but your summary in below post really nails it as to where we are at with RMX!:
https://hotcopper.com.au/threads/potential.3794382/page-827?post_id=29748182#.WjmZat-WbIU
"..... With Xmas being around the corner and results pending, relax, go play some Golf or watch the cricket or go and do something worth while because nothing will change what is meant to be. I'm invested for those possibilities and hope is not the reason why I invested but on the reasons of the following potentiality that rmx has to offer. A great deal of effort was placed into this project by management and having CSA on board just gives us the extra smile if not the grin. Nothing is a certainty but we are ever so close.
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rmx is within 120 kls from one of the worlds top 3 copper mines.
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rmx has 90% of the project
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The 116 sq km site lies in the Congolese copper belt, about 120 km from Ivanhoe’s Kamoa-Kakula project, which is thought to be among the top three copper resources in the world at more than a billion tonnes.
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Mokabe-Kasari is also about 70 km north of another of the world’s biggest cobalt and copper mines, Tenke Fungurume.
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in geological terms the DRC copper belt is “Hollywood”, says Red Mountain director Jeremy King
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Initial work by Red Mountain’s technical lead, CSA Global, has so far revealed high-quality cobalt grades of 0.3 to 0.4 per cent.
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In recent times about a dozen small (or “artisanal”) miners have worked the Mokabe-Kasari site – but Red Mountain will be the first explorer to mount a major exploration effort with modern equipment
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Initial work by Red Mountain’s technical lead, CSA Global, has so far revealed high-quality cobalt grades of 0.3 to 0.4 per cent.
Cobalt grades above 0.1 per cent are considered economic; grades above 0.2 are average and grades of 0.3 and above are considered very good, especially with scale.
Cobalt operations in Australia typically show grades of 0.1 and 0.2 per cent.
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Demand for Cobalt is expected to increase eight-fold between now and 2025 due to its use in electric car batteries.
“The cobalt price is at historical highs and we only see that strength continuing.”
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This is a relatively greenfield site. We do know there are artisanal [local, independent] workings taking the oxidised ore at surface — but there has not been a modern scientific drilling project applied to the site."
