Ann: Suspension from Official Quotation, page-17

the more important aspect is that unless COB spend $10.5m by 2020, and pay 7.5m they will not be able to earn in 100%.

The critical think I see is who is the JV manager. If it’s BPL, they can just frustrate the process if BPL don’t want to earn in and it will be fair to do so given the current cost of COB.

BPL have said all along they own legally 100%, they also have 2% NSR, and now its confirmed they still own 30% after the dispute notices. The detail of those will be critical but I doubt we will see those. This is why they are not in a TH noting different to say than they have all along.

Will COB step up?

I would be banking on LG stepping up, they will be able to reduce their average holding price after all they want the Cobalt and suppler.

I feel that BPL are firmly in the drivers seat and COB has languished for months...and will continue to do so for many more. Could we see sub 10c?

I have held both in the past, however got rid of BPL over this thinking they were in the wrong. I admit I did not see this coming. May look for an entry into BPL as a spec buy.