Battle of the midgetsJervois, eCobalt and FCC are all tiny cash-strapped explorers.
eCobalt's ICP is a more advanced mining project than Iron Creek, with $135m spent on it though with limited current value - like Iron Creek. Sorry everyone, but it is true.
I hope and expect FCC will make a counter-bid for eCobalt, using its own paper. And hopefully, FCC will act immediately, ahead of the Glencore decision - the consequences for FCC of Glencore deciding not to proceed are ugly.
The eCobalt assets are worth having and are in play. If FCC can make its offer more attractive than Jervois', it will win.
This is high stakes poker in a dark room filled with cigar smoke at the moment. Mell & team have played a poor hand well for a long time. If they can win this round, Phew!
I am seriously overweight and underwater FCC. This moment is double or nothing.
Ash