With the current drilling campaign ending with the onset of the NT wet season, N27 will be releasing results Jan 18. Given the price has been trading some 50% off its highs (still a great result from $0.20 lPO), I am looking again at N27, with a period of important newsflow ahead. N27, fully diluted, is still only ~$26m, and there is plenty to keep interest levels high: -
- Cobalt (Co) price has moved from US$60k to $72k per tonne - nowhere near 2008 high of $115k!
- BMW saying we will need 10x's as much Co by 2025. They are joining the ever-growing chorus realising the reality of the Co shortage. Chinese launch an EV at half the Tesla entry price.
- Stanton drilling should see JORC upgrade early in new year
- Other targets - scout drilling at Stanton SW/NE - Running Creek - Felix - Felix East to be released in coming weeks
- Metallurgy - what if the Co can be separated out through simple gravity/spiral - similar to DRC and mineral sands operations? And Capex was sub $10m - a potential game changer - and yes "hypothetical" at this stage.
- Acquisition of Lithium Project (Arunta) east of Alice Springs - too cheap to pass up - with pegmatites - and gives exploration option through wet season
Full note (VIEW LINK)