Well highlighted Jimone. To add to your write up: 1) Location:...

Well highlighted Jimone. To add to your write up:
1) Location: DRCongo mines will supply close to 70% of all Cobalt ore in the coming years due to the start/reopening of various projects. BUT key customers would prefer sourcing from other countries due to child labour, corruption etc. Right now their choice is v limited. If OGX in Brazil could supply the end product for EV batteries i.e. Cobalt Sulphate, this would be excellent as the demand is increasing very fast and prices have gone up 4 fold in the last 16 months and are above USD 80 000/ ton.
2) Following Vale's deal for financing = streaming would be great no doubt so as to minimise debt. Another mine in PNG already operating just finalised a deal with an upfront deposit also with Cobalt 27.
So this streaming financing scenario is spreading for Cobalt projects.
3) OGX Results: usually the cut off grade is 500ppm = 0.05% IF the reserve is significant. To me it would need to be at a minimum of 50 000 Ton of contained Cobalt to justify the processing plant (anywhere from $ 500 million up). Here out of 54 rock chip samples, 9 are above the cut off rate so we will know the real situation only upon results from drilling. Also @ SJB, is the ore Laterite or Sulphide? For the record the best mines in DRC like Glencore's Katanga have a 0.5% avge grade (= 5000ppm)
I invested in OGX for its gold. If we find Cobalt and it adds up to the value of the company , great. But laterite Nickel-Cobalt projects have usually faced a lot of problems from delays due to issues in commissioning with cost overruns. If the reserve and grades are proven, it may make sense to JV with a company having A LOT of experience in that field. i would not want Cobalt to become a distraction from gold but I believe the mgmt is savvy enough not to make this mistake. Anyway their incentives are based on the gold production...
My short term expectation is to see OGX breaking even on its gold operation, the HMs performing well so that the company is self sustaining, then ramping up to finally reach the 5000 oz/ month. The truckers strike was another hurdle but it seems to be over now.
PS: Jimone, you mentioned before that Jeremy Gary had experience in Cobalt. Could you tell us a bit more please ?
PS2: Van Gogh used Cobalt in some of his paintings.