I get what you are saying about the tenements, strike now while the iron is hot so to speak, but WFE was always going to be using 3rd part ore for at least 2 yrs before they start looking for resources in their own back yard, money is tight so why put cash in tenements when you wont be utilising in the short to medium term?
The key is to get to production first, get some coin together and then look at the tenements long term, cobalt and Li dont look like they are going to turn the corner any time soonish, so its a prudent gamble imo.
That last ann has given me great confidence, it appears they have multiple options on the table, the chinese are tough buggers to negotiate with, all this takes time to filter to get the best outcome for WFE,
Say whatever you like about JB and his lack of communication skills, but he is a go getter and his reputation is on the line here, imo, he wouldnt be making big statements with multiple off take options / funding if there wasnt in the first place.
All imho
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