Ann: Tolga Kumova transitions to Executive Chairman, page-66

With the price of Cobalt now back up over US$50,000/t does anyone think management may move to restart exploration on the European Cobalt tenements in Slovakia and Finland? There is reported to be a Cobalt supply crunch coming in 2022 and prices have been moving up on reported supply shortages due to increased EV battery demand.



Dobsina Project is located in central Slovakia.

HighlightsNorthern (Zemberg-Terezian) Vein System:
1,500m strike, 300m depth and 0.7-1.5m wide sulphide mineralisation
Lower extents veins exploited at grades of averaging 4% Co and 16% Ni and results of up to 8% Co & 17% Ni
Upper levels reported grade of 1-7% Cu, 200-900 g/t Ag, 0.6-5.9% Sb, 0.1-0.3% Co and 0.1-0.6% Ni
Southern (Georgi- Martini) Vein System
~1,500m strike length, grades of up to 2% Co and 28% Ni
Historical production of 430,000t of high grade Cobalt-Nickel in early to late 19th Century; ore was hand sorted and shipped to England for smelting.
Excellent infrastructure exists within the vicinity of Dobsina including power, water and proximity to a railhead.

Jouhineva Project is located in Northern Ostrobothnia region of Finland.

High Grade Cobalt-Copper From Surface, 119 Diamond Drill Holes for 14,000m completed
Trial mining was conducted by Outokumpu in 1984 whereby 6,250t of material was excavated
Two processing facilities located 49km and 103km from the ProjectProject is located 70km from Freeport Cobalt’s Kokkola Cobalt Refinery (Glencore/Lundin Mining JV)
Reconnaissance scout drilling to the north east of the trial open pit was conducted similarly on 20m sections.
Only three of the drill sections had two or more holes completed.
Results from scout drilling include:KJ-JO-057: 1.7m at 1.95% Co from 24.65m.

Kolba Project Central Slovakian Cobalt-Copper-Nickel Mine.

Mineralisation identified within historical waste dumps contains cobaltite- chalcopyrite sulphide cobalt & copper mineralisation respectively
High grade results reported from sampling of waste dump material includes:
17K001: 0.66% Co, 3.73% Ni & 2.04% Cu
17K002: 0.51% Co & 5.02% Ni
17K003: 0.68% Co & 6.75% Ni.