On market action since Ausust 21 was a strong indication this ann was coming. What nobody foresaw was the CR, and this provides the most insight into what might potentially be released Wednesday when the TH is lifted.
Is it:
A. DRC Cobalt play is go.
Full green light. CR and raise to cover 100% of the project and an extensive drilling campaign. I like A. I really like A. Especially if any of the raise goes to a chinese entity (China Molybdenum all over the DRC like a rash).
B. We found another project.
Would have to be mighty attractive too, given what holders went through with Red Valley they want to rebuild confidence in the registry. We know they have been looking and we also know that they like having at least two arrows in the quiver. Highly likely to be lithium or vanadium IMO.
C. Progressing Cobalt project - cautiously.
Want to raise to secure warchest for flexibilty and options next 6M. Its possible but this doesnt seem likely IMO. 2.5M isnt CR territory and IMO raising now is smoke that something big is brewing for the cobalt project or another play has come up.
D. Cobalt looking no go and possibly in combination with B.
Listed as its theoretically possible. Has to be 5% chance or less. Not going to happen IMO as the progress on DD for DRC has advanced considerably.
As has already been pointed out at 2.1c MC is 9M. The DRC Cobalt project has enormous potential and could be company making. The tenement area is 350km2. The indicative Co and Cu grades are high. There are two huge mines not far away where we know there is Chinese interest in Tenke. If its A then game on, MC 20-30M+ would seem likely as fair value. If A and B, then considerable further upside. The CR suggests C and D are unlikely IMO.
Going to be a very significant announcement.
GLTA
RMX Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
(20min delay)