They have enough cash to get through 2023, and complete the feasibility study. However it remains to be seen if the cobalt price will recover by 2024. If it doesn't it seems the SP will linger at these levels, however compelling the FS is. Current SP is a reflection of the price of cobalt, pure and simple. Timing is the issue. I think they will make it through 2024 and I believe the widely held view that cobalt will go into structural deficit by 2025.
COB Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
