@Wolfee As with all TS announcements, this is not as good as it...

@Wolfee

As with all TS announcements, this is not as good as it sounds.

They have been promising a pending offtake agreement that includes funding now for 6 months. The extent of the progress seems to be, they hired an ex-metals trader (for RBS I think from memory) that set up a business out the back of his outer suburb London house literally weeks before it was announced that CFE hired them.

Since then - only a 'making progress' statement has been made. Which could mean anything from a deal that take advantage of the fantastic Cobalt price, or simply that his new desk chair arrived from the Amazon sale.

The Cobalt price is at 60K at the moment - a deal for even 45 K- 50K for the promised quantities would see CFE in the 20c range. My feeling is that the funding ask of $10M would be a blocker on a speculative deal such as this, it is fine arranging an offtake agreement to buy what you got at a price - but to outlay funding on such a high risk plot, the respectable would not touch.

We will be going to market for funding any day soon - need versus market cap will dilute CFE by 50%. And if nothing is done by November, don't expect CFE to be here in January.