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Gold/Mining/Energy : Canmine resources -- Ignore unavailable to you. Want to Upgrade?

To: Marshhawk who wrote (2720)	10/4/2000 1:18:43 PM
From: Ralph Kern	Respond to of 2769

Cobalt at 18$. According to discussions at the AGM, cobalt premium pays for production costs and plant upgrades could increase cobalt production(1-2 years) to 1000 tons/year. Cobalt 'unreported consumption' may be as high as 5000T/yr according to Metal Bulletin, pushing annual consumption up to 40ktons/yr. Also high-end material becoming hard to come by. Nikkelverk produces 333 tons/month of Co with 80 tpm supplied to WMC for sale over its COSS website. Since the Falconbridge strike production has been reduced to 40% of capacity(133 tpm). Cobalt from Murrin Murrin at 75% capacity with 217 tons produced in June. Overall the demand for Co is strong and supply still tight. A 15$/lb cobalt price is projected however this may be a very conservative estimate based on events at Falconbridge, Oz, and Africa. Good prospects for the cobalt market and Canmine. Ralph.