Ann: Jervois suspends final construction at ICO, page-156

I think that's an overly negative way to look at it. Surely they could sell ICO for something if they really had to. It's a proper cobalt mine in the backyard of the USA. I think it is the only one there?

Can't comment about the other assets as I do not know enough about them, but I cannot imagine how any of them could be written off as zero value. A refinery could be worth zero? How's that?

Also, I don't understand why the company is so focused on the spot price of cobalt. I thought it was well known that this particular metal does not function in the markets quite like the others like copper, nickel, etc. The best index we've got are the LME ones and those are far from a reflection of what goes on in the industry, they're merely hedging tools for traders. The amount of cobalt that back those indexes is a joke... it can go for months and months with absolutely zero stock movement. Yet products are still being churned out everyday globally, that use cobalt.

With cobalt, it's all about long-term supply contracts and on those, the pricing of the metal is extremely opaque to outsiders. The only thing we can do is observe how some companies can continue to deal in the metal and make a profit, even when the spot price of the metal was at rock bottom.

JRV needs to get the USA (gov or private companies operating there) to come to the table and try to negotiate contracts with them by leveraging on ICO. Not just stare at the spot price and hope for a miracle.