Regarding the recent SP steep rise:
1) The SP was below $ 70M, vastly undervalued in my eyes.
2) The good news kept coming:
In Jan. results from the add 55 holes drilling confirmed the grades and potential resource enhancement and clearly hinted at an upgrade in mineral resource.
In Feb. announcement that COB would test 10kg of ore from HAV Mutooroo site.
Despite the above news ,until March 6th the SP did not move
March 10th: Excellent Results obatined from Calcine and leaching tests = proving the production process + first end product Cobalt Sulphate being produced. Not appreciated at its worth by the market.
March: meetings with potential partners/ customers in Korea and Japan.
3)For attentive observers, it was clear that March was going to be a turning point: COB had to have an indicated resource by April 1st to retainits its rights. Second, based on my obersvation of CLQ within a month of submitting samples a deal was struck. It was likely it would be the same for COB especially considering the mad scramble right now for Cobalt.
All the above does not mean that no one knew and talked. and or bought.
On my side as soon as I saw the SP leaving the 60ies I informed some friends and it is very likely they bought COB shares. I do not believe they are responsible for the rise but they may have contributed to it.
COB Price at posting:
$1.38 Sentiment: Buy Disclosure: Held
