Great news over the last 2 days: -Mineral resource up to 61 000...

Great news over the last 2 days:
-Mineral resource up to 61 000 ton and now 72% is indicated : really big tick for investors especially Instos.
- LGI -COB agreement: LGI will provide technical assistance + buy around 5.5 Million shares at $ 1.10 = 15% premium to 30 days average. Big vote of confidence by a major battery maker.

Both news contribute to further derisk the project and increase the value proposition of COB. It also enable the company to meet its obligation to BPL to retain 51% of earn in of Thackaringa ( deadline was April 1st and at least 40MT of indicated resource, both met). COB will increase its rights to 70% once the PFS is out in June. I do not see a problem to meet the requirements to further secure the remaining 30% to reach full 100% by 2019/20. By then BPL will only have an interest in the project via a 2% Royalty on smelter output, a nice little amount but 0% ownership. (@bluesamurai: correct me if I am wrong).

What is interesting is that COB has not even reached the PFS stage but has already got a deal with a world class company.
Further, this company was willing to pay a 15% premium for the shares (at the time the deal was agreed). This shows the quality of the Thackaringa project and of course its management.
Also COB smartly has signed with LG, a korean company, staying clear of any potential fallout of relations between China and the US.
The fact that LG is investing only $ 6M can be seen from 2 angles: The koreans want to test first before committing further. On another hand COB ‘s mgmt does not wish to be tied down too early with a partner, considering the likelyhood that COB SP will rise much more given the steep rise of Cobalt prices as well as more positive news from the company ( PFS results, more upgrade in mineral resource as per mentioned by mgmt). I do not know for sure but my take is a combination of both.

Going forward what could be beneficial to COB’s SP:
1)The PFS of of course :COB’s CEO said it clearly.
2)Another lees known (and not certain at this time) element is the fact that an adjoining tenement could be going COB’s way via BPL .The latter has submitted exploration licence applications for The “Triple Chance project” tenement and 3 large parcels covering 130 sq Km are located immediately north and south of COB’s 63 sq km Thackaringa. In a word Thackaringa's size could triple.( BPL Annct Jan 23rd)
3) Add potential mineral resource upgrade : the CEO mentioned it in an Annct . I believe the March 22nd resource upgrade does not include new areas uncovered during the helicopter survey ( see Nov 22nd Announcement ) labelled T2 to T4 especially the T4 one located 1.5 Km south of Pyrite Hill labeled as potentially “ a 4th large and deep target”. I’ll email the company this weekend (for the firs time) and I hope my email wont end up in their spam folder.

Regarding the recent SP steep rise:
1) The SP was below $ 70M, vastly undervalued in my eyes.
2) The good news kept coming:
In Jan. results from the add 55 holes drilling confirmed the grades and potential resource enhancement and clearly hinted at an upgrade in mineral resource.
In Feb. announcement that COB would test 10kg of ore from HAV Mutooroo site.
Despite the above news ,until March 6th the SP did not move
March 10th: Excellent Results obatined from Calcine and leaching tests = proving the production process + first end product Cobalt Sulphate being produced.
March: meeting with potential partners/ customers in Korea and Japan.
3)For attentive observers, it was clear that March was going to be a turning point: COB had to have an indicated resource by April 1st to retainits its rights. Second, based on my obersvation of CLQ within a month of submitting samples a deal was struck. It was likely it would be the same for COB especially considering the mad scramble right now for Cobalt.
All the above does not mean that no one knew and talked.
On my side as soon as I saw the SP leaving the 60ies I informed some friends and it is very likely they bought COB shares. I do not believe they are responsible for the rise but they may have contributed to it.