Originally posted by ozblue
@Mutley8 ..............."I guess it's to be expected you have a "negative" differing opinion to the company about short term and ore grades. If you think 0.5% is high grade from DRC then you are completely taking the p!ss. You might get away with 0.5% as high grade is Australia, not in DRC. Please spare us the BS"
If it wasn't so sad it would be funny what people don't know about cobalt deposits in the DRC. I refer once again to the USGS publication on the copper and cobalt resources in the Roan sedimentary group in the DRC and Zambia.....
https://pubs.usgs.gov/sir/2010/5090/t/pdf/sir2010-5090T.pdf
Of the 56 known resources that have cobalt, 37 of them have a grade of lower than 0.5%, so yes I am quite prepared to say that 0.5% can be regarded as high grade even in the DRC, based on scientific evidence!!
It would really pay for people invested here to have a good hard look at the above document, as it has facts, not heresay from people wanting the SP to go up!!
From the announcement on 3rd of December, now over 6 weeks old.........
"The Company and its advisors in the DRC and AHIC have over the past months been approached by a number of established mining operators that have expressed their interest and indicated their ability to mine and deliver high grade cobalt and copper ores to the Facility. The Company, together with its advisors and AHIC, is currently reviewing these high-level proposals and anticipates WLMC entering into a number of formal Ore Supply Agreements over the coming weeks."
What did we hear over the coming weeks?? crickets in this regard!! Also note it refers to "established mining operators" which is a lot different to artisanal miners.
The artisanal miners follow thin seams of ore, then wash it to remove excess dirt before taking it to sales points. The ore they sell is basically 'pre-concentrated' by their efforts, and hence why ore from artisanal miners can be 1-3% or even higher.
Signing a contract for an ore supply from established miners is a different kettle of fish!! If it is bulk mined in any way, then it will only be a representative of the existing resource in that location. The above USGS report clearly lays out what the grade of ore would be from the different resources in the DRC. The odds of any ore being above 0.5% are fairly low as only 33% of known resources are above that grade, with only 10% being above 1%!!!
Too funny that you went that far to have my post deleted...........here it is again as my opinion
Your suggestions got binned last time but if you obviously want to go through this old grind again? I guess you couldn't resist as its becoming apparent your every effort to continue down ramping before the prospectus puts it all to bed. I would suggest to any investor to ignore rampers either up or down and read the company announcements and read the upcoming prospectus with a fine tooth comb. Rather than listen to random post from non-holders wanting to mislead and snap up shares on the cheap.
Happy to do it again for any new readers until the prospectus comes out......
IMO WFE has no intention of buying and processing bulk ore and processing dirt that hasn't any cobalt along with the stuff that has. Remember the old cake mix scenario? You've obviously forgotten.
IMO from my conversation with JB the company has been engaging with artisinal miners that are semi-mechanised so they are not hand digging, referred to by the company in the announcements as "established mining operators". These types of artisinal miners are capable of provide around 3000-5000T per month each, that was said at the company AGM, feel free to call JB directly and ask. Satisfy yourselves rather than listen to anonymous posters on a forum with underlying agendas.
By your own admission artisinal miners can achieve 1-3% because they chase cobalt rich veins. Hence your super impressive link to USGS is useless information. You need to understand established mining operators are not your big miners most people are used to seeing like here in Australia. As per my conversation with JB they use mechanical equipment instead of hand digging but the process as you described is much the same. So achieving 1-3% is every day stuff.
IMO currently the Chinese and Indian operators are getting 1-3% supply already so its not new and certainly not some miraculous desire of the company. Check out this post I'm sure
@apkjm can provide some of the reference articles from back then.
https://hotcopper.com.au/threads/cobalt-stocks.4525984/page-61?post_id=36489161
I realise the closer to the date the more anxious it becomes for you guys siting on the outside, but its not going to change anything no matter how much you post. The full form prospectus I'm expecting will be all encompassing similar to an IPO for a new listing company.
Like I said previously there is no announcing ore supply or sales information now as the prospectus is due out soon. But I do sympathise with your time frustration
So you enjoy your crickets and as a current shareholder I'll enjoy looking at the prospectus
It's not everyday a company director puts in half a million dollars from his own pocket into a CR, refer July announcement. There is no better informed person who knows what escalation in value is to come from this little ol' explorer undergoing a full transformation to a cobalt producer! Boooom!!!
