Morning traders March 16, page-210

@SelmaBouvier re: KAI vs AVL cobalt grades..

Your response this morning was a touch misleading. KAI had 1 strike of 0.39% average over that width. Their average over their site was much much lower. See below, but most hits were below 0.1%. AVL wasn't great either but kai wasn't that far above them except for 1 exceptional drill.

The major AVL news is predicated on 2 things, firstly the cobalt appears to occur within the thick massive magnitite bands (which are 10-15m thick sections and consistent) and secondly the cobalt occurs in the non-magetic fraction, which means that they can concentrate the cobalt for extraction while producing a Vanadium product anyway.

So by the time time the cobalt comes to being processed it's going to be double the concentration in the ground, if not more (because massive means >50%).

I don't own either company, but I just felt the statement this morning was a touch misleading.