Re the price correction- Co sulphate price is down 20% since March and cobalt metal price has also fallen. However, sulphate has been hit harder and is trading around parity after previously trading as high as a 15% premium.
COB will produce 4k-5ktpa, imagine being able to sell 1/6th of production for US$300m upfront and still receive further cash flow from the buyer on delivery? Cobalt 27 has just paid $300m to Vale for such a deal.
Why the sell off?, page-11
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