Sorry.. the 50m was in reference to football.. free kick plus 50...

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jj2

1,735 Posts.

09/10/17

22:23

Post #: 27776655
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Originally posted by procrastinato ↑

Thanks for that jj2. I was basing my speculation on how Creasy has done business in the past. It's true only BAR/CNJ have an economic resource, and Creasy does not, but on the other hand, Creasy can wait forever, while BAR/CNJ cannot. His 16Mt portion could well be the missing ingredient to a successful mine. I'm sure he knows how to use what he has to drive a deal. Free kicks is his business model. Obstinance on BAR/CNJ's part would just cause delays or even failures.

Where did the 50M figure come from? I would think 16-20M would be closer for PlatX's northern tenement, based on CNJ's market evaluation prior to the SS (about $1 per in-ground ton), 70% being 11-14M, plus whatever exploration and admin costs. But I don't really know how to put a value on such things.

Also, Creasy's tenement to the south of the main project also holds roughly a further 8-12Mt, defined by PIO in the past.

And on selective mining, I think the asbolane is more or less uniform, there are no intensely rich or poor spots like in other deposits. IMO, it would be better to process more tonnage (thereby lowering per unit capex), extend the LOM by acquiring both adjacent tenements and get the project up to 60Mt.

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Sorry.. the 50m was in reference to football.. free kick plus 50 meters.. NOT 50 million.

Cnj/Bar will get the job done.. and sure, Creasy will more than likely join the party sometime- but it's definitely not the making or breaking of Mt Thirsty.

There might be some increased cobalt production from the DRC.. but it is in noway stable, secure or in some cases even legally mined. Having been invested in companies with major projects in the DRC over the past 25yrs - i'm only too well aware of how quickly things can go pear shaped - and major consumers will want surety of supply.

On another note..
It's pitiful to read some personal attacks regarding the integrity of some of the people involved in the MT project... shows your character... sniping from the bushes.
We wouldn't even want you as a shareholder in either company.. more than happy to share success and fortune without you..

CNJ Price at posting: 3.3¢ Sentiment: Buy Disclosure: Held
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