Ann: Investor Webinar Presentation, page-13

Iwatani Corporation is in a strong position to develop the Kwinana nickel/ cobalt refinery. They own the land within the proposed battery supply hub. They have the financial,technical and global distribution network ability. COB has a strong track record with Federal and State Governments acknowledging major project status to eventually build the Broken Hill mine plus their patented process to operate the plant is a real asset . Iwatani must be pleased to enter into this partnership. they will have carried out extensive due diligence to be at this stage. Obviously they will study the cobalt price range into the future to assess viability. If we are going to complete financing and commencement of construction both both companies will have to be proactive now.There is every chance that this will be feasible but the focus must be on a binding agreement very soon IMO.