Ann: ASX Webinar Presentation, page-8

Thank you for your excellent posts. I agree that COB looks technically sound in most respects and eagerly await the DFS and announcements leading to it. Understanding the critical mineral requirements of COB's prospective markets is also very meaningful, as are the problems with supply from the Congo, etc. I thought the COB presentation handled those issues adequately. The cobalt price will do what the cobalt price will do. ICO mothballing their plant makes a certain kind of political as well as economic sense, especially if they have hopes of moving the U.S. Government into being more supportive as they wait out the cobalt pricing. That said, the world is entering into a very unsettled time politically and economically as the Biden regime seems to be more responsive to their Chinese and W.E.F. sponsors than to rational policies in their own national interest. Witness Ukraine and their profligate spending on social nonsense pushing the US Dollar out of being the world's reserve currency as PRC is maneuvering (seemingly successfully, I must add) to replace the USD with the Chinese currency. Basically put, the USA under Biden is no longer trustworthy and seems intent on handing away its superpower status just as they (and we in Australia to some extent) gave away their industrial base to PRC a few decades ago. I wouldn't like to be in ICO's shoes (although I am invested there, too) so I'm glad that COB is looking to build relationships in Japan, South Korea, and India, etc. That makes sense. Unfortunately, business with China does, too. So my issue is not technical, although I do wonder whether building a refinery somewhere around Perth isn't in the process of becoming the real business of COB rather than BHCP. COB is my largest investment and I've taken a few hits, so I'd like some of you guys' thoughts on the COB long game and whether we are placed to benefit or be chumps. Thanks in advance.