I'm pretty surprised that Compass is still able to hold "51 tenements. 27 of these are held as exploration licenses, 3 as retention licenses, 2 as mineral authorities, 1 as a mineral claim, 17 as granted mineral leases, and one under a mineral license application"
As well as paying for "care and maintenance. The plant had produced 1500 t of LME grade A copper cathode, and approximately 0.7Mt of ore had been mined, with 300,000 t processed and 400,000 t stockpiled"
And according to the website they have plans "Compass is presently evaluating opportunities to processing the mined ore stockpiles. These are expected to produce some $16M of copper, $4M of cobalt and $1M nickel after accounting for metal recoveries. If successful, then Compass intends to restart mining in the Browns open-pit"
You would think that the cobalt might be of interest to someone. Their resource published in the 2007 Annual was 84 million tonnes at 0.78% Cu, 0.12% Co and 0.11% Ni.
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Not Held
