Ann: Ardea Presentation - Battery Metals Conference - March 2018, page-71

K folks! - I'm back. Mentally/ physically resuming my general daily trajectory of 5 hrs sleep, decaf long blacks (no Mocchas just yet as I'm currently in fasting period), goji berry madness, macca root etc. etc.

There has certainly been a great deal to catch up on within the ARL thread, and although I/we have large positions in numerous other stocks I believe ARL is the crown jewel of current Cobalt plays. That said Cobalt Blue has done very well lately (very good increase in reserve/ expansion and will have a relatively low CAPEX), and also in the energy/ electric sector re: Vanadium KRC has popped extremely well (likely a little too hot in the very ST). EUC was somewhat a fluffer as predicted, CLQ was always going to struggle to increase dramatically from it's current market cap (now an institutional play), AUZ has certainly had it's drama, CNJ/BAR will need cash shortly and don't believe that rich bloke across the street will play ball in the short term etc. etc.

There was the Elon Musk discussion, which I found very strange but irrespective gave it a read. I found out more about posters mentality rather than ARL itself. That said it was very beneficial, it is important to know what type of company shares your company - at the end of the day we are all at the mercy of each other ... we technically/ fundamentally are on the same pitch. Re: that discussion, my thoughts in respect to Elon Musk have changed vastly over the years; I'll reserve judgement in the short term but in the next 5 years or so we'll see what type of an individual he is ... if he is still around ??

What I would like to focus on specifically in this post is 'no not the increase' week in week out of Cobalt price itself but where we are in right now to our closest comparative company in the sector - that CleanTeq (CLQ.ax) which is roughly 12mths ahead of us (I believe the time-frame is approx. this as they delayed their DFS multiple times and we have improved on our time-frame).

Ardea is by the end of this month going to release its PFS. The facts (please correct me anyone if I'm not close) : roughly 85m share on issue (SOI). ~$15m in the bank. 108k contained T of Cobalt, for the time being I'm going to exclude Nickel/Scandium. Current market cap ~$150m : $1.60ps.

CleanTeq "as at Oct 2016" on release of PFS (all from memory so again please correct me). Shares on issue ~450m. $15m in bank due to recent 33m share issue as at ~40c. 110k contained T of Cobalt (excluding Nickel/Scandium). Market cap ~$180m.

The following 3 months had CLQ re-rate to approximately a little more than double, from memory it even hit $1 briefly before consolidating for a while and then shooting again - this was then capped by the large investment and has as previously suggested now become an institutional play.

If we take Ardea's situation right now, with the PFS, the SOI, the cash and ability to go all the way to BFS with no additional capital ... well let's just hope that Dr Painter does not get too excited too quickly; they will come irrespective ... they'll need to. I'd just happily go along with the day to day business, reap the real rewards when the market gets really tight. This will likely happen around 1st quarter next year. And I'm expecting the Cobalt price to be close to double current prices by then, there simply can not be direct substitution - not yet and from what I've seen production line wise/ current EV facility implementation ... it's really silly to think that ratios will change in the near future. It's a decade away I'd put my leftie on it.

To 'the cat' that started talking about the ARRRF, understand OTC markets before you comment on their impact on the FPOs of the exchanges - you have been ignored FYI. You have provided no real substance and I do not like participants who try and confuse threads/ boards ... 'the cat' was used as you have been meowed ... an old time joke for those who have been around HC long enough.

Also to BlueSamurai, "I know you are there", thanks for all the information you post on the Cobalt thread - great work. p.s. Good to see you are keeping SolarBat entertained.

Lastly, I broadly discussed DRC (China) many years ago, I reserved discussing certain areas in detail and will continue to refrain from such discussions publicly YET have you ever wondered why the DRC came soo into the lime-light even beqore Cobalt was a factor : food for thought ??

Keep up the great thread, watch out for those random-anarchists AND a huge hello to all the recent educated posters - it's been good to see some new posters.

Catcya, technically keep watching that weekly, the daily is a side-show ... "we are" about to pop !!

NL
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