Smaller JORC thats a resource estimate downgrade stated JORC expectation was 33-41Mt this is the first I have seen mentioned of 20Mt, I don’t eat company lines about they are declaring smaller resources by choice that 100% bullshi, something has not gone right with the drill out, so thats a concern for our trade.
Bigger issue is the delay of the met work this I really don’t like, copper-cobalt met work is a complicated issue one that isn’t my expertise I have talked to someone with more knowledge than myself and the answer was a long one, but the message was simple this project cannot afford any metallurgy issues the grades don’t support difficult expensive processing and high penalties.
Borg admitting he has been delaying the release this is a bad sign in my experience you only delay news for one reason it’s cause it ain’t good, I think CLA is a sell, potential met work bomb to drop anytime coupled with a JORC downgrade the risk reward ratio is now too high considering current share price.
I do however desperately want cobalt exposure moving into 2018 I have another company in my sights, but I haven’t finished doing my due diligence on it quite yet, will be tipping it shortly though as I think sulphide cobalt plays are 1000% the place to be in 2018.
Another strong performer since the tip.