Yes, Bill, I'm still here. Have been posting over at Stockhouse (a whole new group of people to tell me I'm an idiot).
Supposedly financing is just around the corner this time. Coming from Switzerland, but not the Swiss who have been buying stock all along (one wonders could this be Glencore, Marc Rich???)
Financing (again rumors) to be convertible preferred, which I take as a huge positive cause if you are the banker and you really think it's going to work you maximize your return with convertible preferred.
This of course would be a huge plus. There would remain minor quibbles e.g. can these guys run a refinery, but, once they are in production they are protected from low cobalt prices just as Exxon is protected from low oil prices.
My optimistic guess is that financing gets announced on Friday or on July 2 (July 1 Canada day, right?) and will probably see quick movement to .68, if it can get through that, I would guess .80 to 1.00 until market decides commissioning is smooth.
Weird business this base metals stuff. You basically have no product for 10+ years and then (if you don't go bankrupt like the other 99.9%) you make a fortune.
Take care, have a good summer.
I have been swamped with my real job, and am not spending as much time surfing the net for news. Of course, if Ted makes money, I won't have to find news on how malaria affects cobalt production in Zambia. |
