TSXV:FCO.H - Post by User
Comment by
AyuFanon Feb 19, 2019 8:27am
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Post# 29381096
RE:RE:RE:Seeking Alpha
RE:RE:RE:Seeking Alphawhen cobalt was $30 and soaring, i thought ECS would capitalize the trend and get all their financing and off-takes to begin the mine.
Once the mine construction started and financing sealed, the volatility of the commodity isn't a factor for the construction period.
What I didn't expect was management did not do any work to capitalize it .. did not get the financing they need.
Now we are in the hole where they don't have the money to continue their operations, they cannot get a Feasible study that is profitable, and they can't get an off-take that is favorable now with Cobalt at $14.
So ... I would wait till cobalt demand picks up before I buy ecs again. remember.. KAT's cobalt are being refined .. then there will be additional supply in the market.
As for the SA article, there's nothing wrong reversing your thesis a year after when you realized things have changed... Just like owning a stock and selling it after taking a loss... you realized you made a horrible mistake and decide to drop your bullish sentiment.