Ann: Company Update, page-209

I totally agree they haven't committed to the cobalt and there is risk here, but there was risk with the lithium play as well and we know the results.

We knew there was lithium in the waters, but did't know the concentration or if we has the volumes required for a commercial operation.

We know from current sampling that the concentrates of cobalt are enough for a commercial operation as long as the cobalt resource is big enough for the project to proceed.

on balance, the lithium was higher risk than the cobalt is, and I am invested accordingly and everyone should make there own assessments before investing.

But this is spec mining.