Ann: Significant Extension to Cobalt Mineralisation at Opuwo, page-85

The following brief summary by BB and my own understanding in layman terms of exactly what the ANN is all about (despite several other details contained in it)

Celsius Managing Director, Brendan Borg commented:

“The confirmation of significant down-dip extension to the cobalt and copper mineralisation at Opuwo has clear implications for the scale of the Project. We are on track to report our maiden Mineral Resource in February, and look forward to reporting a large number of significant drilling results in the lead up to this event.”

My own way of breaking it down and interpretation in Italics:

Part 1) "

The confirmation of significant down-dip extension to the cobalt and copper mineralisation at Opuwo has clear implications for the scale of the Project". ​

I interpret this statement to say (reading between the lines and ANN) that:​

A) The grade of cobalt in the assay was of a size/width and grade that meets or exceeds economically viability requirements which forced considering genuine $$ prospects of underground mining.

This has resulted in commissioning and committing $$ spend towards underground mining study by a reputed and well connected German firm and also conducting EM and ATM surveys to get a better understanding of where exactly may be prospects of more higher grade Cobalt zones..including the "Feeder Zone" ).​

B) "has clear implications for the scale of the Project".....I take it to mean that : As a result of this down dip assay result, it looks like the final total recourse size will probably be huge, and that CLS will have a large scale mine operation.

Part 2) " We are on track to report our maiden Mineral Resource in February, and look forward to reporting a large number of significant drilling results in the lead up to this event.”
​

I take it to mean that : (Apart from expected timelines to declare maiden JORC)BB is expecting that the forthcoming assay results will be of size/width/grade which meet economic viability requirements leading to a JORC of such size which make the scoping study make economic $$ sense. ​

As such I consider this ANN to be a very bullish one, and hence there was no significant dip in SP despite the "Sell on News" strategies in play and the fact that it was the last trading day for the year..a day when ASX on the whole is usually down as result of profit booking.​

Happy New Year to ALL ​