G'day fella's, been underground all day so I missed the nervous hands selling it down today. Kicking back having a laugh tonight tho reading the CLA thread with all the so called "cobalt experts" we have on here saying the grades too low!?
I suggest you do a few peer comparisons and compare CLA's cobalt grades with the likes of ardea resources and cleanteQ. Luckily I already did it weeks ago hence my initial investment so I'll save you the time scurrying off to figure out what actually is a good cobalt deposit grade. Ardea is .11% Co
CleanteQ is .12% Co
I won't even bother with the likes of cobalt blue etc with .08% Co grade, which for those who still haven't grasped the ppm to % concept Its only 800ppm.
Ardea has a 48.5million tonne Co deposit at .11% with low grade nickel laterite = huge capex and nickel - yuck! Yet it has a $50mil market cap.
CLA has a cobalt & copper! Yippee, anyone want to guess what the Cu eq might be...
Sure the tonnage is the big unknown but we have 20km of known co mineralisation and have only 4 holes with assays back. seems to me a few nervous hands panicked even though they all hit mineralisation and pretty decent widths.
I'd love to see borg come out with a big exploration target, put his balls on the line and shut a few of you down rampers up. But just say hypothetically there's 100 mil tonnes there at .12-.16% Co, that's somewhere around $7-8 billion worth of contained metal in the ground...and we currently have a MC of what $13 mil!? Lol.
I must admit a month ago I did have some concerns based on the 2 historical holes that perhaps we just had cobalt from surface to 15m and that it was enriched (sucked up) and there was nothing underneath it but from what I can see from the Ann the deeper we go down into the fresh rock where the cattierite is (cobalt sulphide) the higher the grades get and we aren't talking deep deep, it's 50-80m depth. So that's technically de-risked the project a hell of a lot to me. Met testing will be the next hurdle but all in good time. Happy to hold and hopefully there's still a few nervous hands tmrw morning so I can get some before these next 16 holes come back and she goes to 6-7c.
Interestingly the same co sulphide mineral mentioned above is the same co mineral they mine in the DRC! and we all know what's going to happen to the Congo these next 12-18 months...Bub bye 65% of the worlds yearly cobalt supply and hello safe and stable Namibia!
Here's what went down yesterday just for a teaser.
https://www.bloomberg.com/news/arti...pplies-in-congo-face-disruption-over-mine-row
