yeah I did calculations for a grade of 3% cobalt on the pile a while back and calculated the potential to be around AU$9million just for Cobalt alone in that ore pile. but there are a lot of variables and I didn't take into account any production costs etc. so that could be way off and it might be nowhere near that in reality. But I'm very interested to see their plan forward with that ore pile.
I imagine they'll be looking to process it somehow sooner than later to gauge what they have in the ground. So I think they'll be testing it further then if successful maybe truck it to a Canadian processing facility or ship it to china for processing? I don't know..
Pretty exciting few months ahead either way. hopefully management will be pushing to define a resource and go into development as quick as they make out they will.
The current MC of ~$25.7 mill will get blown out of the water if management do what they're meant to do. The Managing Director performance shares seem to be realistic and in line with the interests of shareholders IMO
MTC Price at posting:
23.0¢ Sentiment: None Disclosure: Held
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