A bit of research here, totally subjective and based on my opinion of the announcements/time frame and correlation from what I perceive to be shifts in the WFE paradigm. Maybe someone can find some more info, connect a few dots...
I was researching a few articles, taking a look at some cobalt opportunities in DRC, came across this.
Posting for those who find it interesting to consider the possible plays in the DRC.
VTM: Please can you give more background about Red Rock’s relationship with Cobalt Blue and how the deal came about.
AB: Cobalt Blue is an Isle of Man vehicle created by the interests of 1620 Capital Pty Ltd of Perth and Exchange Minerals. Jason Brewer, a key principal of 1620, has been known to one of our NEDs for some years and I believe I have come across him. John Boardman we know less well. The key principal of Exchange Minerals, who introduced the transaction, I have known for perhaps seven years and I have a high regard for his experience and reliability.
Red Rock Resources were after these plots - Kamirombe 1 and 2, Haute Kalumba and Basse Kalumba tailings properties, outside of Kewezi.
"We are in discussion with other parties who may wish to join us in this project, and will look for opportunities to strengthen the team. A project of this scale will require a dedicated and experienced management, and this we will put in place." - Andrew Bell.
Now, Red Rock was due to complete its DD by the 16 of march, as you can see they've further extended that deadline.
On 3 November 2017 the Company announced that the due diligence period had been extended by 30 days to allow additional time to complete the planned drilling and laboratory analysis in order to determine whether to proceed with the investment and JVCo.
On 5 December 2017 the Company announced that the due diligence period had been extended until 31 January 2018 to allow additional time to determine whether to proceed with the investment and JVCo.
On 31 January 2018 the Company announced that the due diligence period had been further extended until 16 March 2018 - now extended until further notice..
PURE SPECULATION ON MY PART - But if Red Rock lets this lapse, there could be a potential for Winmar, to pick this project up, or if Red Rock decides to go through with this, there's the opportunity for WFE to co-operate in some way, I'm basing this on Brewers affiliation and initial dealings from 1620 capital, for mentioned in the article above and Andrew Bells comments of seeking other parties to strengthen the team.
NB- This is my own research and should not be considered as a 'sure thing' or even a real possibility, just something to mull over and perhaps encourage your research! If anyone can build on this, I'd like to hear!
DYOR and don't let the opinions of forum members sway you either which way, simply educate yourself!
