WINMAR RESOURCES LIMITED (ASX:WFE) - Ann: Battery Conference Presentation - March 2019, page-16 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by ozblue: ↑

@Mrmena112

Do you realise how ridiculous those numbers you posted are?? To get 12,000 tonnes of Cobalt the 'feed' would need to be around 6% Cobalt!!
The company has contracts for 1% and we have no idea what the recovery will be!!.
Assuming 70% recovery it is easy to work out......

250,000t/a X .01 (1% cobalt) X .7 recovery = 1,750t for the plant, only half of which will belong to WFE so 875t. Then you need to look at payability for the Cobalt Hydroxide, again probably around 65-70% of LME or Metal Bulletin price.

There is no way the company nor plant revenue will be any where near $472m you mention, and that is from the company's own numbers.

IMHO they have a long way to go just to get to the starting line, and there is no guarantee it will even be allowed as a prospectus for readmission by the ASX. They should have a timeline for readmission as the first priority, yet nothing about that today.

Expand

@ozblue You are very quick to jump on people for wrong calculations but yours are incorrect as well . This has been discussed with you before but its 30-40% cobalt hydroxide - not cobalt metal. If you apply an LME discount to 30-40% cobalt hydroxides you'd be closer although just wait for the prospectus to get in and have a good sledge. I notice your recovery has crept up to 70% now from the 60% back a couple of months so does this mean your bullish now? lol

What we know is the plant can produce 12,000t annually of high grade copper and cobalt hydroxides - not 100% copper or 100% cobalt. Without any calculation I would guess it would be in line with the 4800t cobalt hydroxide as we have known as a figure for a long time which would leave about 7000t copper hydroxide. What's not to like if they pull that off? They managed to look in the ore agreements even though you still say you need to see it to believe it, and if they manage some offtakes at a premium to LME benchmark will that finally make you less of a doubter as you did mention something to the effect of "who would pay a premium to benchmark???"

Cheers,

Disco.