Ann: Successful A$5m Placement, page-13

COB can be a marketing machine (and i think they are pretty good at marketing themselves) but if the cobalt price doesn't do anything then the share price won't do anything either. remember COB was trumpeted as the only 'pure play' cobalt producer on the ASX. that type of labelling comes with baggage when the underlying commodity price is dying (and they have ditched this marketing line for a while after the cobalt price was cratering). in any case, COB's hope now lies with our japanese partner and the 'build it and they will come' refinery, and the potential for the waste streams project to deliver something useful. expecting a series of larger and larger capital raises to get the refinery built because i can't see any debt partners taking it on.