Post by
Justhalffull on Jul 19, 2021 6:06pm
Acquisition
I hope they bought First Cobalt. Not likely, but I can hope. Perfect fit, abandon Sao Paulo.
Shipping all that ore 2000 miles to Cobalt vs 6000 to Sao Paulo would pay for the refinery alone, not to mention the proximity of the market for refined products.
Comment by
greenstar1 on Jul 19, 2021 6:16pm
Interesting concept. I'm just wondering though, if that was the case if First Cobalt would have had to be halted as well today, which they weren't. Good point that shipping costs and logistics to Ontario should be better than to Sao Paulo.
Comment by
TennisStar on Jul 19, 2021 6:18pm
The Ontario refinery is also vastly superior to the South American one. I don't think this acquisition is happening now though many think this is in the cards.
Comment by
dothemathpeople on Jul 21, 2021 8:13am
How's that? Vastly superior? In what way? Neither works. The FCC facility is apparently $50M away from being anything. And that money, in debt form, has not yet been secured. Please, do tell?
Comment by
Jordsword on Jul 21, 2021 1:32pm
I would say that the location makes it vastly superior.
Comment by
Justhalffull on Jul 19, 2021 6:19pm
Just found it curious that First Cobalt shares at 20 cents fully diluted would be worth just over $100 million. Does that number sound familiar?