COB cobalt blue holdings limited

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Congo just gave cobalt price big boost., page-4

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rolly777

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02/02/18

14:55

Post #: 30773638
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Originally posted by Duncan04 ↑

Thank you BlueSamurai. No wonder some of the Congo linked stocks fell hard. All these news are in fact great for COB, safely located in Australia.
I cut and pasted with some comments the link above + a few others to summarise the new scenario in DRCongo.
http://www.mining.com/congo-just-gave-cobalt-price-another-big-boost/
and
http://www.mining.com/congo-shocker-fells-ivanhoe-mines-stock/

1)Miners and explorers knew that the Democratic Republic of Congo would be raising taxes and royalties, but were blindsided on Wednesday when lawmakers voted for an immediate lifting of a provision exempting licence holders of compliance with the new code for 10 years.

2) Originaly on Jan 10^th the new mining code would see the tax on base metals like copper and cobalt increase from 2 per cent to 3.5 per cent and if the metal is classified as “strategic,” that rate could increase to as much as 5 per cent.
But yesterday Jan 31^st it seems the new code also permits the DRC to raise the royalty on cobalt to 10% from 2% if the government categorizes the mineral as a "strategic substance."

3)Firms operating inside the country will also be subjected to a new 50% tax on so-called super profits. Super profits are being defined as income realized when commodity prices rise 25% above levels included in a project's bankable-feasibility study. Given the improvement in the price of most metals over the past couple of years having to deal with the new levy is more than just a possibility. Copper is up 67% since January 2016 and zinc +130%. Cobalt had had a gain of 140% at USD 80K/ton. Measured from its record low hit in February 2016, the metal is more than $50,000 more expensive.

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Good article thanks for the info.I tried to tell investors about the sovereign risk in the Congo but just got hounded down.The Government is a bit of a loose cannon their.I decided to invest in a Australian junior as I think we will all do well.It doesnt matter if it is CLQ,AUZ or COB or any other Aussie listed company.The future looks promising for Australian Cobalt miners.

COB Price at posting: 65.5¢ Sentiment: None Disclosure: Not Held
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Last 5.6¢		Change 0.003(5.66%)		Mkt cap ! $24.91M

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Congo just gave cobalt price big boost., page-4

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