Short Term Trading Week Starting: Tues 12 Jun, page-116

Keep an eye on HCO this week. Stock has been sold down over previous 3 weeks. Should bounce nicely on positive drill results.

Potential high grade Cobalt assay results due to be released any day now from their Tiger Creek tenement next door to AUZ and CLQ in NSW.

Historical drilling has yielded impressive Co grades close to surface.

1. High-grade cobalt has been intersected in 19 of the 31 holes drilled at Tiger’s Creek by previous explorers who targeted platinum, with results such as 7m at 0.32% cobalt, including 1m @ 0.64% Co (hole HRC007) and 8m at 0.27% cobalt, including 1m @ 0.85% Co (hole HRC003)* returned. This drilling also intersected significant nickel, platinum and scandium including 5m @ 504ppm Scandium, within 13m @ 355ppm Sc from 12m (hole HRC009), and 4m @ 460ppm Scandium from 9m, within 17m @ 323ppm Scandium (hole HRC004)*.

Company reported laterite mineralisation present in all of the first 13 holes drilled by mid May.

1. With the first 13 holes of the 50-hole program completed, geological logging has confirmed that drilling has intersected significant zones of laterite, which is the iron-rich regolith material known to host the extensive cobalt mineralisation in the area.
   Importantly, the laterite at Tiger’s Creek has been intersected both within the areas where previous drilling returned laterite-hosted cobalt mineralisation as well as in new areas nearby to the north- west.
   The first two batches of samples are now in the laboratory and assays are expected in the middle of June. In addition, orientation soil sampling has also been completed across a 5.8km2 area in the north- west corner of the Hylea Intrusive Complex (Figure 1). These samples are also at the laboratory and results expected in mid-June.