Without Cobalt from DRC, there is no EV revolution, page-3

Whats happening here is just peak human stupidity.

Copper / Cobalt concentrate producers from the DRC are going to have some incredibly fat margins, just watch and see.

Things are getting very tight in cobalt market and I predict the two SXEW plants being built in Kolwezi 45km away will add an extra kick in revenue to our STAGE 1 project (no extra costs, just better terms = more money) by competing for our concentrate with the plant in Lubumbashi and hugely ramping up what we get paid for contained cobalt (almost nothing now).

This is before looking at STAGE 2 which will comprise of the cobalt only ore, and the tailings stockpile from stage 1.

Which combined will virtually lead to a doubling of revenue as calculated in the feasibility.

This is actually me being conservative because I hate to think how this project will look if Bernstein is right and cobalt goes past $50/lb with ease, don't even try and bring in the copper forecasts for 2019 and beyond.

Nzuri will actually benefit from the cobalt and copper price trajectories unlike most because its a real project and will have product to sell in 2019. Most of the rest will only have their board members and rock samples to talk about in 2019.

Couldn't care less what market thinks.

We will have to dilute 10-15% along the way to keep running but eventually mine finance will be split across debt, offtake and equity, and there's plenty of upside from there.

Shame the recon exploration of this year couldn't carry us but that's exploration for you. You can't rely on soil samples to vector into ore bodies in DRC, the whole of katanga is anomalous. We have the aeromag happening now which will help targeting. Monwezi west drilling looks good so far as well, but it may be patchy.

All good for me, but yeah some bastards are getting it cheaper than me and it burns a bit.