Ann: Africa Downunder Presentation September 2017, page-13

The area does seem to be very copper rich but I believe it's still mostly about the cobalt for CLA.

Pretty much all the copper CLA have found so far has had cobalt with it. I'm no geo but it looks to me like some of the copper mineralisation in the area probably won't have associated cobalt and that's fine, if you have a processing plant recovering copper then the more the better.

But looking at previous exploration it looks like cobalt assaying has been patchy at best and it also looks to me like CLA may have a different exploration strategy, focusing on the long thin DOFs that seem to be most prospective for cobalt rather than looking for bigger localised concentrations of copper. I'm eagerly awaiting drills from those new DOFs.

Again I'm no geo so all of that is just the musings and interpretations of another punter.

As cliched as it may be it's also hard to put up much of an argument against your last statement when you look at the market cap as a percentage of even the lowest projections of in ground value.