The current field/geophysics program is very expensive and extensive for this reason, at the end of the day the Cobalt projects in Australia at ~0.05-0.08% may be easier to drill but how much money can you really make with the amount of processing required at those grades? Not a lot, as COB just found out with its feasibility study.
There are plenty of new Lithium projects all over the world, but new companies like AUZ are rare and their grades are super low with economics driven by other minerals mined concurrently. It's not hard to see the Cobalt prices rocketing astronomically, which also makes MTC's decision to place high grade Cobalt at the top of their list an easy choice. The headwind from Cobalt prices alone can bring massive increases in company valuations.
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