Always surprising that shareholders get exited when an exploration company suddenly decides to become an investor on their behalf (especially in shares that can easily be bought directly by shareholders if they wanted to do so). Is their core skill not supposed to be exploring and then possibly mining? Should they not be 100% focused on Nico Young?
Based on the Q Report the investment is not off to a good start:
Amount Invested: C$9,900,000
No of shares Shares acquired: 7,249,000
Calculated Average Price: C$1.37
Share price on 31 July: C$0.91
Loss per share to date: C$0.46
Total Loss: C$ 3,303,410
Total loss : AUD 3,419,029 (-33%)
eCobalt Investment
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