CLA has actually done the right thing here. If anything they should have probably done it sooner. There is no way the project is going to be economic at $30K/tonne and they know it so it goes into mothballs. Can anyone give me a better solution while the project is uneconomic?
Was always a marginal play with the grades and the depth and metallurgy hasn't helped by the sounds of it. So rather than keep burning cash while it is raining, they wait HOPEFULLY for the sun to reappear.
If cobalt price heads back to $70K plus, there's life changing fortunes still to be made here. While it sits at sub $50K there's little hope this gets off the ground. Harsh reality but that's the way marginal deposits work..
Ann: Opuwo Project Update and Board Changes, page-323
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