Ann: 15,000 metre Cobalt Resource Drilling Program Commences, page-71

Aesir Capital Report from may is still worth a read:

http://www.celsiusresources.com.au/wp-content/uploads/2017/05/CLA_Aesir_May.pdf

It also includes met results from peers:



I had hoped for a bit more than 60-70% to be honest.

On the other side the basket price with 166 US$/t (at current metal prices it should be around 180-190 US$/t) is higher than i estimated. I hadn't considered zinc and manganese so far.



Current basket price before recovery 180-190 US$/t (approx 3% Cu equivalent)

Basket price after recovery according Aesir approx 2% Cu equivalent = 120 US$/t.

BAR/Mt. Thirsty had 43 A$/t = 33 US/t operating costs for its Co/Ni project per tonne.

120 US$/t minus 33 US$/t = 87 US$/t...

Well, this would be a damn good profit margin per tonne.

If met results, coming drillings and the scoping study in Q1 2018 confirm such figures:

BOOM !