GSR 0.00% 1.1¢ greenstone resources limited

I agree, the main selling point of the project (the low capex...

  1. 64 Posts.
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    I agree, the main selling point of the project (the low capex and quality grade) has been wiped out. Considering the cobalt production increase the following year from DRC (Glencore, China Molybdenum) with a labor cost, deposit volume and mineral quality the Australian miners cannot compete, the project stands worse now than it did beginning 2016.

    The only "selling point" being the sovereign risk and unethical conditions of DRC, however this only concerned the Glencore operations and they looked up to it (the reason their cobalt operations were halted for optimisation). China Molybdenum controlled Tenke Fungurume Mine (worlds largest cobalt deposit) is up to Environmental and Social Impact Assessment (ESIA) standards. DRC is financially more viable, even with expenditure in environmental and social improvement of mines and labor.

    Now we know the reason for the scoping study delays. I am a holder since 2015, it was an interesting ride, but I see no steam in this engine anymore. I am out, good luck.
 
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