Just updating a few figures for current prices and I was shocked, by how cheap NZC is for how much cobalt we have in our deposit.
Looking at E-cobalt you would think they must have a smoking operation with high profit margins low capex just churning out the $$$, well no they don't really it's ok, but nothing stellar.
NPV came out higher, but made a few observations about that, I think mineralised did a pretty good job explaining the other day how NZC should have a NPV of atleast double e-cobalt, if they used same numbers.
It becomes most obvious though when looking at actual contained metal values that NZC has the superior deposit.
So why is our cobalt exposure valued at under 10 times less than other lesser deposits, I can stomach some sort of DRC discount in terms of cobalt, but 10 times difference in how the companies are valued ridiculous.
Add in the copper and restrict all the plays to actual reserves and it looks much much worse, for instance AUZ I generously gave them their full 89Mt resource on that graph in reality their mine plan is around 29Mt which sends them soaring you can barely see NZC on the graph at that point.
As cobalt prices keep climbing NZC has to have a massive rerate at some point.
