The cobalt has the potential to be a serious resource. Cobalt is currently worth $76,000 a tonne and going up vertically. That means that 0.3% ore contains cobalt worth about $230 a tonne. There appear to be new and much hydro metallurgical processes for treating laterite cobalt ores and a shallow open cut at these prices would be highly profitable if they can prove up a decent quantity. Don't ridicule the cobalt play.
PIO Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
