The sale last year by Freeport McMorran of a Copper Cobalt undeveloped resource in the DRC to China Moly for USD 550 million was done at 1% of the contained metal value at the time early Dec 2020 copper was 7200 /t and cobalt 32200 /t the in ground value at the time was USD 55 billion.
The deposit was high grade 96 mt at 2.81% Copper plus 1.15% Cobalt for 2.68 mt copper and 1.1 mt of cobalt. About $5.70 per tonne of resource.
Using the inground value of Opuwo at todays date and with increased resource its about USD 22 billion so 1% of that is USD 220 million or $1 per tonne of resource.
Trouble is who is going to pay that when the seller is a listed company worth only USD 26 million and has other assets they can take over the company and acquire all the assets.
The sale last year by Freeport McMorran of a Copper Cobalt...
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