Ann: Positive Scoping Study Completed on Opuwo Cobalt Project, page-305

I think the market has overreacted here.  As has been posted numerous times now, this 'summary' SS clearly states that the financial modelling you'd normally expect to have been included in the results has been excluded, by the ASX, as it continues to crack down on this sort of stuff.

If you think through things logically (though please note the following is only my opinion) the ASX is not likely to have blocked the release of forecast financial models if they showed negative, or even what they would consider to be 'average' numbers.  The only reason I can think of for the ASX doing what they've done is because they want to temper the expectations set by what is only a forecast, and their standard for what is 'plausible' around these sorts of studies/reports has narrowed to 'protect' the market from 'too good to be true' cases (fair enough in my opinion). 

Though the irony is of course, that despite the ASX's efforts potentially being a play in protecting the interests of retail investors, they've kind of achieved the opposite, as said investors can't see the wood for the trees, while the institutional buyers are starting to stack up, because they have successfully navigated their way to the logical conclusion of the jargon contained in yesterday evening's announcement.

I think (again my opinion only) that I am, on this basis, cautiously optimistic about the future.  Other circumstantial items on the 'positive' side of the ledger include the continued vested interest from directors (i.e. no sell-off coming in to the announcement) and absolutely nothing within the announcement from yesterday to suggest that the hard work, and crucially, the numbers that investors are looking for, haven't been procured.

The other thing to consider is that my positive outlook might just come from having de-risked to a free carry at 22.5 cents post JORC, which makes me less financially dependent on future outcomes, but equally (in my view) less susceptible to emotional swings and roundabouts from down or up days, a lot of which is playing out both sides of the sentiment equation following such a hyped announcement,