C'mon Cobalt!

Cobalt price slowly rising, now at $13.72

Based on the Mintrex report, mine development could cost anywhere btw 14-30mio.

If copper averages per Citigroups advice last night ($2.55 for 2017), then free cash accumulated at CY end 2017 after debt is btw $25-$30mio after debt servicing costs (assuming tax is offset by capex and losses to date).

If cobalt is added to the mix, then at 1000t/pa, $13.72 average cobalt price, and assuming $9.50 AISC, then the operation can generate a further $10mio of extra cash pa.

Exciting times ahead if the above assumptions are correct, and shows that cobalt production not only diversifies revenue structure, but is also highly value acretive.

gltah