Some info here,
I've posted this extract before, but adding additional information.
VTM: Please can you give more background about Red Rock’s relationship with Cobalt Blue and how the deal came about.
AB: Cobalt Blue is an Isle of Man vehicle created by the interests of 1620 Capital Pty Ltd of Perth and Exchange Minerals.
Jason Brewer, a key principal of 1620, has been known to one of our NEDs for some years and I believe I have come across him.
John Boardman we know less well. The key principal of Exchange Minerals, who introduced the transaction, I have known for perhaps seven years and I have a high regard for his experience and reliability.
To read it in context and the original link:
https://hotcopper.com.au/threads/researching-wfe.4098631/page-112?post_id=32074606#.Wt4gi4hua00
Stumbled across this just now:
https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/xp0p81w
29 March 2018
Red Rock Resources Plc, the natural resource investment and development company, announces, further to its announcement of 31 January 2018, an update on progress on the proposed
Joint Venture with
Cobalt Blue Limited ("Cobalt Blue") previously announced on the 27 September 2017.
Highlights:
o
Drilling and sampling work scheduled by Cobalt Blue to be completed by 30 April 2018, with the objective of defining a JORC (2012) resource report and final due diligence report to be received in
May 2018 following laboratory analysis of the auger and bulk samples and receipt of assays.
o RRR has reached agreement with
Cobalt Blue to extend the due diligence period for it to proceed and
acquire a 26.25% interest of the proposed Joint Venture to
31 May 2018 to allow sufficient time for this work to now be completed.
Andrew Bell, Chairman of Red Rock comments: "In late 2017, we began due diligence and field work on these five tailings dams. With the end of the wet season, we are now able to complete,
in partnership with Cobalt Blue Limited, the drilling and sampling programme to validate the grade and tonnage of these tailings.
We are grateful to
Cobalt Blue Limited for the spirit of co-operation in which they have
undertaken additional work on behalf of the Joint Venture, in order that we can be provided with the information necessary to make a decision.
I will be on site with them shortly after Easter to further our discussions
The Company's prospective Joint Venture partners have engaged a drilling contractor to conduct work on the three copper/cobalt tailings dams not tested so far.
Perhaps Jason and John were in Lubumbashi representing Cobalt Blue, while pushing WFE agenda... It looks like it's all go for RRR and COB from here on in, it's hard to say where WFE fits into this, perhaps we are part of the prospective joint venture partners, WFE/Gecamines... Also John Boardman mentions 1620 capital as a presence during the DRC trip, as we know from the above interview with Andre Bell, Cobalt Blue is a vehicle created by the interests of 1620 capital and exchange minerals... Seems to me like an announcement is further away than expected, will keep researching and update accordingly. If anyone can add to this, please do.
As always, this is my research and all IMO.
Vic.
This article shows you exactly why the DRC had no choice but to rectify there mining code ( Tax ) As I've been reporting in other post , the big boys in the DRC have been cheating the system for to long , and treating the Government of the DRC like they are stupid. Well now its time to pay Lol , and new companies like WFE who are happy to do the right thing will take full advantage and reap the rewards.
