Largest cobalt resource with lowest valuation, page-2566

Yes Sally_Will, the gold prospects are on two sides of the continent, and logistically what you say does make sense. However, once the gold sector of ARL starts to call on funds to explore (IP, magnetic, drilling, analysis, etc), its needs will be conflicting with the needs of the nickel-cobalt sector (which will be focused on funding the DFS and then the construction of the "factory"). ARL had hoped that the gold exploration of prospects in NSW would lead to a PFS, but the recent announcements by ARL indicated that the WA goldfields (Mt Zephr) are more likely to be used to get a PFS. If they do make a gold discovery soon, then their call on funds will increase as they infill drill, etc to get a PFS then a DFS. So in a year or two the funds will be fully streched (unless a big miner wants to join ARL's nickel-cobalt operation). Perhaps the easiest way to get the funds for gold exploration is to:
1) get a promising set of results from Mt Zephr or another one of their many exploration leases,
2) split the gold prospects into a new company (perhaps include a royalty payment from the new company to ARL, e.g., the split of COB from BPL),
3) offer ARL shareholders options (plus shares to sophisticated investors and general public) in the float,
4) if the new gold company has 100 mil shares at say 20 cents, the market cap of the new company would be about $20 million.
All of the above is just my rambling thoughts. Anything that happens, will depend on step 1) - the discovery of a good gold prospect.
There is another factor. They just can't sit on these exploration leases - they have to carry out work programs which actually explore for minerals. I'm not sure about WA but I know that in NSW the Depart has fairly strict compliance about exploration work programs.
Finally, excellent infill drill data today.
Good luck to all longterm investors.