Share
574 Posts.
lightbulb Created with Sketch. 85
clock Created with Sketch. 27/02/17
17:48
Share
Originally posted by Christophfff
↑
..and now it's around $32m! CHK has a ~$15m MC on historical mining figures, an acquisition that's still months away and a couple of hundred million placement shares to churn through. CFE is at $26.6m but has more shares to issue and I'm not sure how much cash they have for drilling so will look into it. The mining infrastructure it has definitely adds substantial value but I'm still a little surprised at its performance, being in the DRC. All these cobalt runners but of course my tip, ANW, hasn't moved a single pip. MC = $20m, no debt, good tin projects with revenue on the way this quarter, excellent historic cobalt hits and ANW have already drilled it and hit grades well above the averages of all of the larger cap cobalt stocks on the ASX. Am I missing something?"The Mount Cobalt Lode was discovered in the early 1870s and is located eight miles south-southeast of Kilkivan. Production commenced in 1886 and further production was recorded in 1903 although the size of the mine development indicates a much greater tonnage than the four tons at 4% cobalt recorded (Brooks et al, 1972)." "[ANW's Mt Cobalt] was historically the centre of mining for high grade, cobalt‐manganese rich mineral asbolite (asbolite is also mined in the Democratic Republic of Congo, New Caledonia and Zambia). Historical records for the Smith mine (approximately 200m south of Mt Cobalt itself) report mining a lode approximately 7m in true width to a depth of 25m with a grade of 7.5%Co , 2.5% Ni and 18%Mn."
Expand
Looks like ANW are cutting it fine cash-flow wise. Cash at last quarterly $470k, estimated outflows this quarter $350k. Might need to raise before the revenues kick in. Everything else looks superb IMO.
