Ann: Response to ASX Query, page-32

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13/06/18

13:14

Post #: 33679954
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Originally posted by ohmygod ↑

I am now not so sure about the resource estimate. In answer to Q4 the company states.
"The cutoff grade of 600 ppm produces a grade of resource that is expected to represent an economically mineable Indicated and Inferred Mineral Resource based on current prices for the metals of interest in the mineralisation." The resource estimate came out 12th April. What was the price they used for Cobalt?They just say "current price". Back in April that price was about $92k per tonne. Now it is $$82k per tonne. Did Celsius base their estimate and assumptions on a record high cobalt price? So if it drops 50% ( thinking Bitcoin here) what happens to the resource.
So the argument is possibly that he 600ppm cut-off is based on record high cobalt prices then the cut-off will increase as cobalt prices goes down. Either that or the tonnes drop dramatically and what was Indicated drops out to Inferred.
My other issue is that there is no technology anywhere in the world which treats these deposits. This company has found a new deposit and has deed a hypothetical metallurgical process to treat the ores. They have no idea of the economics of processing these deposits because it is novel technology. My understanding is that the company has not yet produced any product from these deposits. There is no pilot plant, and this will be something that a feasibility will verify. I think it is just way too early to say anything about the economics of the mining and processing.
Ask yourself this question: Is there a Patent on the process route for these deposits? If yes, who has it and where has it been used before? I think you will find that there is no Patent because there is nothing to apply for yet. The Scoping Study will answer some of these questions. Until then I will wait before I buy some stock.

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We need a patent to process copper/cobalt sulphide using conventional flotation techniques that everyone else uses?

Seriously though, it would be prudent to hold off buying stock until you have a better understanding on the deposit and how all these cut off/processing parameters work. Keep researching, we all start somewhere.

This comment may sound condescending but its not supposed to be.

CLA Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held
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Ann: Response to ASX Query, page-32

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Ann: Response to ASX Query, page-32

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