Ann: Thackaringa Cobalt Project Pre-Feasibility Study, page-25

annual throughout is 5.25mt to produce 3657t contained cobalt, the average C1 cash cost is US$12.76/lb, equals US$ 103mil, if we convert to per ton ore, the costing is US$19.6 per ton ore processed, what does US$19.6 means?? lets see other cobalt peers as below:

1) CLQ DFS US$ 72.1/ton ore processed
2) AUZ US$ 165.33/ton ore processed, refer to SS 16 Oct 2012;
3) ARL PFS US$ 114.6/ton ore processed;
4) BAR/CNJ SS US$ 31.8/ton ore processed;
5) AML SS US$ 53.38/ton ore processed
6) NZC PFS US$ 25.87/ton ore processed

So COB operation cost seems good! Capex also very good compare to laterite cobalt.