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

To: John Stokes who wrote (1982)	12/9/1997 5:13:00 PM
From: Bill Jackson	Respond to of 3744

John, Newer magnetic materials have cut the use of cobalt. I am noit suyer what other wide uses there are, steel plate for tanks maybe. Stainless steel? It is a critical war metals, and the decline of the Soviets has cut useage and released soviet supplies onto our markets. Bill

To: John Stokes who wrote (1982)	12/9/1997 10:21:00 PM
From: Big Shorty	Read Replies (1) \| Respond to of 3744

John, good point. Yes cobalt is a major sweetner at VB. The cobalt plays a key role in the low cost per pound figure that you have seen kicked around re VB. I haven't checked the cobalt prices lately, but someone just said it was about $17/lb. VB does not have the PGE's as a sweetner. The Raglan has the PGE's in significant quantity but although it has colbalt, Raglan does not have near the quantity of cobalt that VB does. Just a matter of the differences between the two types of deposits. The problem now is that VB has turned from an ore boby of significant economic significance to one of significant strategic and political significance. The latter does not usually weigh in favour of the investor. The cobalt will only be of any use should all parties see fit to allow its extraction from the ground. Right now that does not appear to be anywhere near on the horizon. Jim Cox