Our strategy is for the BHCP to produce an intermediate Mixed (cobalt-nickel) Hydroxide Product (MHP) which can be further refined onsite to high purity battery ready cobalt sulphate. There is potential for the MHP to be refined offsite, and COB is exploring opportunities to participate in the battery value chain through co-location of MHP refining and precursor production.A number of shareholders have asked about our view on the future of cobalt based lithium ion batteries. We believe that the battery market is a large heterogenous market where no one technology dominates. Within the Electric Vehicle (EV) market, there are multiple segments where different lithium ion battery chemistries will prevail. Cobalt is a staple for most of these segments, with the exception of smaller/lower cost/shorter range EVs with battery sizes typically below 25 kWh size.Today, for most long range/mass market EVs cobalt is an essential component in lithium ion batteries, with non-cobalt based technologies unlikely to be commercialised in the foreseeable future. As an incoming, large scale ethical cobalt producer, our view is that the move to a cobalt free EV battery places battery operating stability at risk and is based on slender economic benefits. We believe cobalt free batteries are an aspirational goal only.Our plans reflect a strong belief that cobalt prices will strengthen over the coming few years. QUOTE.
The long term strategic planning to be in a strong position by 2022 is on track , COB will become a large mining/ processing entity at precisely to right time in the industry IMO.
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