Ann: AUZ becomes 100% owner of Sconi Project, page-107

To me, it would seem that desperate auto manufacturers (e.g. VW) are now competing for Cobalt supply with well funded hedge funds/ ETFs who are scooping up physical supplies in anticipation of much higher prices.

A supply crunch for a niche metal like Cobalt where a cost explosion will not materially alter the cost of the final product (an EV) and which, in the Short term there is no substitution possibilities and reduction in Cobalt use in favour of Nickel in later generation batteries will not affect the demand/ supply imbalance, could lead to seriously higher prices.

I think BB and his team are playing this very well. There is no hurry to lock in a deal right now if they can smell an ever increasingly desperate situation developing.

The fact that when AUZ start producing ,they will be one of the few developers that will capture what may be an explosive pricing situation in Cobalt supply