RE:RE:US Cobalt Mobilizes Drilling Rigs at the Iron Creek Cobalt Sorry, bad math and poor explanation. To expand:
1,270,000T x 2000lb/T x .0059 (grade) = 14,986,000lbs CO x $27.90/lb = $418,109,400 worth of Cobalt at todays prices.
Our current market cap is 1/12th that.
ECS current market cap is $167M. They are a bit further ahead and have defined 2.5 x our resource. (38,583,000 lbs cobalt). Reading through Ecobalt's PEA report for their project, it has a life of mine total net after tax cash flow of $258M. So, from a buy-out perspective, I'd say they are approaching being fully valued at $167M market cap (might be able to hit around $200M market cap and still be an attractive buyout).
If trust is put in the historical data USCO has from past explorers, we didn't prove up a single lb more (bear in mind it seems they feel like 8-10 the current resource is not out of the question when it's all said and done), and the market started valuing USCO on the same basis as ECS, we should have a much higher market cap.
$167M/2.5 (They've proven up 2.5X our resource with what will likely be very similar economics given the grade and area) = $66.8M, which is nearly double where we sit today. USCO share price should most certainly be over $1.00 as I type. And, like I've said, the sky is the limit once the drilling program can prove up extentions to the currently defined zone. If they could prove up those 10MT, a $500M MC (14.5x today's price) would be in the cards for sure. GLTA