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Ann: Cobalt Off-Take Discussions Advance and DD Update, page-43

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LetsTryAgain

1,797 Posts.

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11/04/17

15:37

Post #: 24003561
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Originally posted by FreeYourself ↑

Hey as I was about to email them I realised that the company you have found isn't the JV partner. The JV partner is Paragon Mining SARL, a Congolese company.

Paragon Resources looks like a different entity.

I have emailed CFE for additional info about the JV partner and Ill let you know if I get anything back.

My initial concern is why would a Chinese conglomerate build a processing plant and then just walk away from a project like this after a "dispute".

In one of the comments above it says
"With the Kipushi plant designed to produce 4,000 tonnes of cobalt annually, this equates to US$164 million in revenue per year at US$41,000 per tonne, not including copper credits.
Not only does this deal give Cape Lambert access to near-term production assets but to the US$20 million Kipushi processing plant and a mining fleet including trucks and heavy equipment already on site."

So they spent US$20m on constructing a plant that has the capacity to process 4000tpa of cobalt that at a current price of $55,000 USD/t equates to US$220m per year and they had a dispute and just walked away?

There has to be more to this surely.

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I think Paragon is owned by Shandong Xinhai Mining Technology & Equipment .

CFE Price at posting: 3.3¢ Sentiment: None Disclosure: Not Held
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