If you translate the release linked above seems like it says the pricing was based on 30 day VWAP which is reasonable term in a negotiation.
We have been above 25c for about 7 days, and 14 days ago we were at 20c. This deal would have been negotiated at 18-19c...
25c with no option, is a great result and we have market validation, we are definitely in the cobalt business now. Huayou will help us make the most of our 40kt of contained cobalt.
AVZ was actually 8.8c when Huayou came onboard at 7c with a free 10c option, I think it went pretty quickly to 15/16c after that.
I am very happy with this.
NZC Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
