Hi Niclou,
I think a sell-down at around the option exercise date would only happen if there was a massive SP spike occurring at the same time. Maybe cobalt price goes gangbusters and shoots up to $100k per tonne? Or they hit the motherlode of cobalt? Who knows....
Whatever it is, i don't think it's likely to happen!
Largest cobalt resource with lowest valuation, page-875
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