Today AZY has just released an initial Cobalt resource. AZY is mainly a gold explorer in the Minyari Dome area approximately 40km north of Newcrest’s Telfer gold-copper-silver mine in Western Australia’s Paterson Province.
AZY market cap is under 30m and it has a joint venture with RIO. The metal mineralisation for that area is typically sulphide bearing so am assuming that applies to the Co also.
For Cobalt AZY released 380 ppm cobalt for 4,000 tonnes of cobalt. I don't think this is a large resource. The Top-cut range from the consultants Optiro Pty Ltd were Co = 200 to 8,000 ppm. I think the grades are good.
Given the price of Cobalt lately I thought this might be a nice extra for AZY. Hopefully, as I hold, this will kick along the share price *smile*.
Any comments from someone more knowledgeable than me (almost everyoneone)?
