CLA is in a position where it has 2 major projects to chose from as to which goes first ???
As for finding a JV partner perhaps they should be talking to B2 Gold a USD 4 billion MC company with strong share price and USD 600 of cash and several operating mines including one in the Philippines and one in Namibia which is not far from Opuwo.
They have operations in many countries and are listed on the TSX and NYSE.
Here are some figures below that are updated to todays lower metal prices, These are in ground figures and we know a new process route for Opuwo ore has been established recently with better recoveries of cobalt and copper.
The Opuwo Project has the following advantages:
Large scale and consistency. 225.5 million tonnes with 67 mt being amenable to open cut mining.
Favourable simple mineralogy: cobalt and copper sulphide minerals.
Low in deleterious elements: notably arsenic, cadmium and uranium.
Mining friendly, politically stable, and safe location with excellent infrastructure.
Cobalt: exposure to lithium-ion battery boom.
The Opuwo Cobalt Project is located in north-western Namibia, approximately 800 km by road from the capital Windhoek, and approximately 750 km from the port at Walvis Bay . The Project has excellent infrastructure, with the regional capital of Opuwo approximately 30 km to the south, where services such as accommodation, fuel, supplies, and an airport and hospital are available. Good quality bitumen roads connect Opuwo to Windhoek and Walvis Bay.
The Ruacana hydro power station (320 MW), which supplies the majority of Namibia’s power, is located just 65 kw from the project, and a 66 kV transmission line passes
through the eastern boundary of the Project. Large water supply nearby.
NAMIBIA
Foreign Ownership allowed 100 %
Compulsory Government share No
Corporate Tax rates 32%
Royalties on Copper, Cobalt and Zinc 3%
Deduct exploration costs Yes 100% in first Year
Deduct Development costs Yes 100% in first 3 Years
Forwarding carry of losses Yes indefinitely
Deprecation Yes 33.3% straight
Capital gains tax 0%
Opuwo
224 mt @ 0.12% cobalt for 259,000 t of contained cobalt
Plus 0.33% copper for 963,200 t of contained copper
Plus 0.54% zinc for 1,209,000 t of contained zinc
Copper price today USD 7543 /t
Cobalt price today USD 51900 /t
Zinc price today USD 2990 /t
Gold price today USD 1629 /oz
Opuwo
1.2 kg Cobalt/t ore @ USD 51.90 kg = 62.28
3.3 kg Copper/t ore @ USD 7.54 kg = 24.88
5.4 kg Zinc /t ore @ USD 2.99 kg = 16.14
In ground value one tonne of ore USD 103.30
224 mt x USD 103.30= USD 23.139 billion
Recovery rates have been significantly improved recently
MCB
313.8 Mt @ 0.48% copper and 0.15 g/t gold
1.5 mt of contained copper Plus 1.5 Moz contained gold
In ground value USD 13.758 billion or USD 43.95 /t ore
High grade 93.7 mt @ 0.80 % copper and 0.28 g/t gold
749,600 /t contained copper = USD 5.654 billion
843,600 oz / contained gold = USD 1.374 billion
In ground value USD 7.028 billion = USD 75 per/t ore
(20min delay)