Like you say Oz, what collateral could be given to secure any advance payments... Maybe a processing plant valued at US$70m??
"If WFE was ‘worth’ 2.4c/sh when the share price of cobalt was $US86,500/t then it is certainly ‘worth’ a LOT less when the price of cobalt is around $US30,000/t. That part is simple economics 101."
According to what you have said previously, the company has no JORC resource and therefore the SP is way overvalued as the MC is based on the resource value. So then, if they have no resource and are merely going to be processing acquired ore at a margin for profit, then doesn't it stand to reason that the change in the cobalt price will not affect the 'worth' of the company as it's value is attributable to its resource??
WFE Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
