Let's say $30 per pound. 4000t cobalt/yr = 8.8mil pounds Cobalt.
Estimate cost of product = $10-12/lb so let's assume upper end of cost, that's $18 / lb margin
That's 158.4m US/yr. Currently for 14yrs, but with further resource upgrades likely bring it to o 20 yrs. With a 10% discount rate that gives an NPV of US $998.55m = AU 1.3billion at current exchange rate.
After the PFS and the institutional investment and offtake that follows, COB's SP will comfortably shoot through $2 in my opinion. But let's assume it is funded at $2.
That's $5.65 per share... (And at nowhere near current Cobalt prices).
There is an EV arms race on right now and companies will be scrambling for Cobalt sources outside of China.
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