WHY IS MT THIRSTY ON THE BACK BURNER ?

Barra Resources (ASX: BAR)Held under a 50:50 joint venture with Conico, Barra Resources is exploring the Mt Thirsty project which is an oxidised nickel laterite deposit with high cobalt values. Situated in WA’s southern goldfields, Mt Thirsty has inferred and indicated resources of 31.9 million tonnes grading 0.13% cobalt, 0.55% nickel and 0.86% manganese.According to Barra, the near surface Mt Thirsty deposit has the potential to emerge as one of the world’s top 10 cobalt suppliers.The joint venture released a scoping study in October which revealed a 21-year mine life to produce up to 1,280tpa cobalt.The study also estimated a A$212 million capital cost with a four-year pay back.The project is close to rail, road, power, water and port infrastructure.

The above is an old report ,-Dated : Jan 10 - 2018