Being a company with limited cash resources as Winmar Resources, the Board of Directors would not appoint an experienced and specialised person like Mr Durr just to make coffee in the office kitchen for the Board. Mr Durr is a specialist in the delivery of production mining facilities. Mr Durr has been appointed to to advise on the logistics, mining, extraction and refining facilities needed and the future amount of capital injection needed to get maximum profit from the refined cobalt to the main wholesales chinese cobalt dealers. So basically he is advising which cobalt mining project(s)that are currently on the table that are the quickest and cheapest to get off the ground and catch the cobalt boom euphoria so that it delivers the highest share price impact upwards. This increase in share price and capital valuation will then be used to help justify security to the international lenders to the tens of millions needed to get the future mine into production by mid-late 2019
Like I said in one of my previous post in march, it will take a few months before the mining deal will be announced as there a number of projects proposed on the table at the moment and its about signing up the quickest project to get the ore to market and one that has a decent supply of copper/cobalt to justify the capital production expenditure. You just have to be patient and hold on till that day and not have weak hands and sell into the hands of the patient who will reap the rewards as the share price climbs upwards and a value of a potential 10 x if management meet the mine development and capital raising milestones over the next 6-18 mths.
WFE Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
