Same across nearly all the cobalt and lithium stocks. Bring on July and the model 3 launch!
Also - for those of you who haven't been following Michael Langford's Tweets on cobalt - Maquarie bank has just upgraded price forecasts and news out of China is becoming very bullish for medium term to long term demand.
BAR directors are details people - dotting all the i's and crossing all the t's before re-launching Thirsty.
Lots going on behind the scenes with BAR - advise you all call them if you need re-assurance.
My guess is early July for scoping study. I also think it will be much more detailed than most are expecting. After all, that is the whole point of the exercise - they have a unique processing approach and need to prove it beyond doubt, to convince a very cautious and conservative market. Hence not re-launching the project until absolutely ready to pitch the plan.
If the scoping study is positive - and I don't think any of us have reason to suspect it won't be - then we'll be looking at a very, very appealing business case - a CAPEX that's a fraction of the cost of all the other cobalt plays. And then there's the opportunity to expand the resource massively, by partnering with the neighbours and exploring the new nearby tenement.
For those of you watching AJM and PLS try and get $100 million or so each for their extremely attractive lithium projects you'll have seen how long it takes. So for COB and CLQ and others wanting $500-700 million...big job.
If our scoping study firms-up Thirsty's $65-70 million CAPEX we're onto a clear winner.
Let's see what happens,
Solarbat
BAR Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
