There's still ample investors around, they may simply be...

There's still ample investors around, they may simply be choosing to invest in a lower risk profile than speculative plays like CZN. However, as evidenced by Hanking's investment in CZN, there's still many investors that are looking for opportunities to enter what is anticipated to become a booming commodity.

I think it's reasonable to conclude that prior to Hanking investing in CZN, they would have reviewed a handful of Cobalt prospects, not only in Australia, but globally. Despite this market not valuing the results of the first drilling phase at Cobalt Ridge, Hanking has deemed it good enough to plunk down $1.68M. Given their background, I think at the very least it lends some credence to the prospect of the tenement at Mt. Gilmore.

As you implied, nothing is for certain in this game, but having an investor like Hanking on board does go some way to ensuring that if the Mt. Gilmore tenement continues to reveal similar or better grades as found by the phase 1 drilling, there's a good chance to advance the project to mining, otherwise, Hanking would not have invested.