Our colbalt potential, page-9

Re neighbor copper-cobalt mine, Tenke Fungurume, Freeport sold their 56% interest for US2.65b before cobalt price flying.

If pending acquisition goes within the plan, $10m market cap is too tidy.
I expect RMX to reach similar valuation as other high grade cobalt juniors, CO1 & EUC, >$50m MC.


COMMODITIES | Mon May 9, 2016 | 10:12pm EDT
Freeport to sell prized Tenke copper mine to China Moly for $2.65 billion

By Anet Josline Pinto and Denny Thomas

Freeport-McMoRan Inc has agreed to sell its majority stake in the Tenke copper project in the Democratic Republic of Congo to China Molybdenum Co Ltd (CMOC) for $2.65 billion in cash, reducing the U.S. miner's debt and handing the Chinese company one of the world's prized copper assets.

Tenke Fungurume, in the southern Congolese copper belt, is one of the world's largest copper deposits. Producing since 2009, it is 56 percent owned by Freeport, with a 24 percent stake held by Lundin Mining and a 20 percent stake by Gecamines, Congo's state mining firm.


http://www.reuters.com/article/us-freeport-mcmoran-tenke-cmoc-idUSKCN0Y015U