Yep, lots going on in the background.
The Mt Thirsty JV management team is very, very conservative in their approach to marketing. They have chosen to launch the project back into the world ONLY once they have updated all engineering and geological reports, costings and resource estimates. Frustrating, but also comforting. They're not cowboys. As a result, few people have heard about the project, and for those that have many don't understand its benefits. Yet...
We know that the project is likely to be the cheapest Australian cobalt resource to develop, that it's likely to get a lot bigger (negotiations are going on with the next door tenement and new cobalt has been found 3km away), and that they are in discussions with many potential partners.
In the next few weeks we'll hopefully find out a lot more. I'm expecting the JV to publish scoping study results and costings soon (a large part of a traditional PFS), followed by (my guess) an announcement they will work with new partners on JORC 2012 and then PFS for a much, much larger resource that what is currently published - probably 60,000+ tonnes of cobalt metal.
Couple this with an expected boom in lithium prices July-September, and Tesla Model 3 excitement (plus all the other brands who will launch models to try and grab media attention at the same time) and I think we'll see some exciting times ahead!
Solarbat
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