Ann: Investor Presentation - February 2018, page-35

I am trying to work out what this Scandium material is and Wikipedia suggest that the global demand is 10 tons a year. It has very specilaised usage associated to the fighter aircraft and aluminium. Cobalt has always been a by product of Nickel and with the current price of Cobalt elevated, that will reduce AISC of Ni production. Bearing in mind this is a laterite deposit, I suspect the flow sheets will be a lot more complex when the 'rubber hits the ground' hence the BFS has been delayed. I hope that is the case!

Currently if the valuation survives the attack from the shorts (relative short momentum on the increase) even though it is still a very small % of total share issuance, the current location on the chart is an opportunistic swing entry. This is still very much an idea/potential until they bank the first $ from their revenue. There will be a lot of price moving up and down going forward and I am trying to be realistic.