Ann: Outstanding PFS for the Goongarrie Nickel Cobalt Project, page-142

in the PFS of CleanTeg, they said:
"Cobalt price assumption US$12.00/lb"
" Based on bank/broker long-term consensus market pricing for metal content only. Does not account for or include sulphate product premiums that are typically paid in the market to produce battery-grade nickel and cobalt sulphate"

and "cobalt hexasulphate contains 20.97 % cobalt ". cobalt hexasulphate is common complex of Cobalt sulphate

So CleanTeg has Cobalt sulphate price assumption is 12 * 100/20.97 = US$57/lb

Cobalt sulphate price US$41 /lb of ARL is more realistic than US$57/lb


Dr Matt is academic guy, he tried to be honest as much as possible.