Ann: Drilling Commences at Burbanks North, page-9

Absolutely right @troyus, the gold is what has allowed me to feel comfortable investing in BAR. It's the most interesting hedged spec stock I've ever come across

The leaching not working as planned is probably the risk most of us are most aware of, but with the meticulous work of the current scoping study, and the high profile experts involved, and the fact they have now had two external consultants do extensive proof work I feel it's not as much of a risk as it seems. After all, they haven't invented the process - it's just not common because the geology isn't common.

According to the directors the process is well proven and well understood. But what's more difficult to get right is finding the ideal process (reagent, leach time, temp, pressure) that will work well (extract the desired amount of cobalt) as the ore changes through depth. This is what the scoping study has focussed on: finding one set-up to process all the ore, rather than having to modify the process as the ore changes. Thus, there is not a risk of it not working, rather (I think) a risk of it being tricky to get consistent results, which could reduce the amount of cobalt extracted. (any doubts on all of this - give the directors a call. They are happy to explain more).

But hey, the yields/cost case is looking insanely good (fast, cheap processes and a lot of cobalt), so hopefully there lots of room to move if the 80% or so cobalt extraction isn't ultimately achievable.

Very much looking forward to the scoping study results - which I hope will clarify this whole situation.

Cheers,

Solarbat