Fortune Minerals Limited (TSE - FT) Message Board

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Gold/Mining/Energy : Fortune Minerals Limited (TSE - FT)

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To: Elizabeth Andrews who wrote (524)	12/4/2000 1:37:51 PM
From: Dave R. Webb	Read Replies (1) of 612

The USGS reports that total world production for cobalt is around 28,300 tonnes in 1999. More than half of that comes from Russia, central Africa and Cuba. The US Defense Logistics Stockpile accounted for nearly 10% of the total annual supply of cobalt. This looks pretty good for someone wanting to bring on a large, North American mine supply for cobalt (a nearly US$ 1 trillion market (28,300 x 2,204 x $15)). In contrast, the total world annual mined gold production amounts to only US$38 billion. A pittance in the scheme of things. I'd much rather see Fortune hang their hats on cobalt rather than gold, but then, a dollar worth of gold has always been worth a bit more than a dollar worth of cobalt. Dave

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