As we all know the lithium is a no-go so lets look at the cobalt.
From the update on 22 may 2017
The parties have agreed to extend RMX’s exclusivity period over the Project to 30 June 2017 in order to finalise due diligence, most importantly obtaining final sample results, completing tenure paperwork and conducting a thorough site visit with CSA Global Pty Ltd in order to assist and complete the Project assessment.
In addition, revised earn-in terms have been agreed as part of the Amendment Agreement, representing a significant improvement from RMX’s perspective.
Pursuant to the Amendment Agreement:
Better terms for this project compared to red valley
▪ RMX has the right, solely at its election, to earn-in to the Project by way of incurring expenditure as follows:
|
Column 1 |
Column 2 |
Column 3 |
Column 4 |
| 1 |
Phase |
Exploration Expenditure |
CoCu interest |
RMX interest |
| 2 |
1 |
A$250,000 |
50% |
50% |
| 3 |
2 |
A$250,000 |
30% |
70% |
| 4 |
3 |
A$250,000 |
20% |
80% |
From the update 4th july
The Company advises that its technical advisor on the Mokabe-Kasari Cobalt-Copper Project in the Lualaba Province, Democratic Republic of Congo (DRC), CSA Global, has recently conducted a site visit. Ground work due diligence has been completed, including verification and fresh sampling.
Looking at the positives for the cobalt project
- We are using CSA Global for the work in DRC. Have look at their website and projects / experience which should give a bit of confidence.
- Site visit has been concluded and verification of fresh sampling, ground works DD completed.
- CSA has begun work on designing a detailed ground-work programme.
Do your research on the facts available and then make your investment decisions.
(20min delay)