Ann: Kwinana Cobalt Refinery Update, page-3

This sounds promising for now since the official binding agreement between COB and Iwatani will probably be released at the same time as the financing is announced. Refinery Stage 2 will be the real ramp up to revenue and if COB/Iwatani can integrate the BHCP to supply the additional feedstock at a competitive cost they should become a solid player on the global ex-china cobalt scene.

It will also be interesting to see how they go with trials of black mass from battery recycling.

Kan Ueda, Managing Director, Iwatani Australia Pty Ltd (Iwatani Corporation’s wholly owned subsidiary) commented “Iwatani Australia is pleased to note the considerable commercial, financial and technical progress made over the last six months to develop Australia’s first cobalt sulphate refinery. We look forward to a long-term relationship with COB, delivering and operating the Kwinana Cobalt Refinery”.