Ann: Quarterly Activities Report - Period Ending 31 January 2018, page-14

Below was interesting coming from a Cobalt Blue interview. Assume the same relates to Muturoo.



Proactive Investors: You previously mentioned key differences between Thackaringa and other projects, particularly laterite projects, can you elaborate?

Joe Kaderavek: Thackaringa ore is completely different to a laterite deposit.
The ore is essentially 20% pyrite (sulphide) mixed with 80% quartz/feldspar.
The recent breakthrough in using simple and low cost gravity separation technique takes advantage of the difference in weight of pyrite (hosting the cobalt) versus quartz/feldspar.
We only need to process 20% of mined ore (pyrite) in a refinery. So our refinery will be focused on extracting the cobalt from the sulphide.
Put another way, Cobalt Blue will refine a 0.4-0.45% cobalt concentrate, versus 0.1-0.2% ore which is the case for the vast majority of global projects outside of the Congo.
This upgrading is not available to laterites.
Unlike laterites, treating sulphides does not consume large quantities of acid.
Typical consumption for laterites can be 500-1000 kilograms per tonne.