I think this was laid out as a long burn to get to Feasibility Study and FID in late 2022. Recent announcement confirmed the push toward getting the demonstration plant built for the end of the year which also appears to be on schedule.
My only gripe at the moment is that it appears a bit undervalued with a MC of $72m when I would have expected something around $90-100m which make the SP in the high 30’s imo. Suspect that CR and accumulation are holding it back but seems the volumes are well down on Feb/Mar when SP was mid to high 30’s. It will only take a few new people with deep pockets to give it a big kick - not sure what the catalyst for that will be because the next big milestones are 12-18 months away. Maybe a Cobalt price jump, a shortage or even a mine closure somewhere.
COB Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
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