Are you inferring that EUC had control of cobalt prices...

Are you inferring that EUC had control of cobalt prices imploding? Cobalt will have its day. The tailwinds in EV are secular. If the cobalt assets (briefly) supported 25 cents when cobalt as at $40lb and 500 million shares were outstanding, one could argue those assets could represent 4-5 cents with the new share count in a bullish cobalt market.

So, what is the appropriate value of a gold mine producing 100,000 ounces (in the future) with a 700,000 tpa capacity surrounded by millions of un-mineable gold ounces (b/c there isn't another plant within an economically viable transportable distance)? That would be a constructive valuation analysis. 5 cents would equate to a $100M market cap with a fully diluted share count with zero value assigned to the cobalt assets.

Was Glenn, with his resume, unable to find another job or did he agree to an option package pegged to 90,000 ounces of production b/c he is privy to details the commons shareholder is not? All speculation until the public receives additional information.