Ralph, I just dumped my hour long dissertation. Will try again.
1) financing is good. without financing we would be screwed. Banks only loan 100% in hot markets. They will have to issue some shares, obviously to finance.
Banks that don't finance have a downside risk of lost business if Ted pulls it off. PR may be message to other banks to make an offer.
2) for the boys at Stockhouse. We all wish we sold at $5. I assume we are holding cause we think the odds of it going up are higher than the odds of it going down.
We may be holding because psychologically, we don't feel it is a loss until we sell and realize the loss. Thus the common mistake of selling winners and riding losers.
3) I think the issue has been raised as to how do they arrange for ongoing feedstock for the refinery. It would seem that purchase of highgrade (15%) from US would answer some of those questions.
Cobalt contained in and smelted with copper concentrate is oxidized along with iron during the final conversion to blister copper. It then enters the slag layer, which can be treated separately, usually in an electric furnace, and the cobalt recovered by reduction with carbon to a copper-iron-cobalt alloy. In nickel smelting, most of the cobalt is recovered during electrolytic refining of the nickel by precipitation from solution, usually as a cobaltic hydroxide. But even in nickel smelting, cobalt starts to oxidize before the nickel and can be recovered from the final converter slag. In the ammonia pressure leaching of nickel, cobalt is recovered from solution by reduction with hydrogen under pressure. In refineries using a chloride leach for nickel matte, solvent extraction is used to remove cobalt directly from the pregnant solution. The resulting concentrated solution, after some purification, is suitable for the recovery of cobalt by electrowinning.
Most Russian and Canadian and I think Zambian and Congo ores are sulfides [A3S4] where A can be Co, Ni, Fe, Cu.
Moroccan, and I think Werner ores are skudderite, CoAs3.
The Cobalt Camp ores are some combo of Ag, Co and As. The metal As is difficult to pyromet, so it seems either that Ted got a deal on wasteproduct ore from US that can't be processed safely, easily or cheaply by pyromet and can be processed easily, safely and cheaply by hydromet; or he is picking up byproduct from Cu production in US.
4) Final point. G&M and FP didn't cover this story. No volume on Friday. My point has been and continues to be that with each added success and growth of the company, more people know about it. E.g. 1, if not 3 banks, Agra, whoever is selling feedstock, and everybody who bids on a contract at the refinery rework is going to know a lot about CMR. Some of them will buy the stock. Some of them will tell their friends.
I think the PR was good news and should gradually be followed with upward movement of price. I'm still holding, and my wife still thinks I'm an idiot. |
