Can very easily make these statements. Grade is king and these...

Can very easily make these statements. Grade is king and these are very low grade, metallurgically complex deposits.

You talk about the scandium value. The global scandium market is around 5-10 tonnes per year. If just one of these mines gets up and running it would cause significant decrease in the price of scandium and erode the “economics” of the mine.

So you really need to discount the marketed hype around scandium until there is a proven market for it.

All I am saying is that these deposits have been known for a very long time. It’s not like someone has just made a Tier 1 discovery. They have sat dormant for a reason. They have been re-badged time and time again during the nickel boom, now scandium and finally now for the cobalt.

I’m not saying no one will ever be able to mine it. I’m saying think about this logically. If a cracking base metal deposit with robust economics was discovered in a developed first world country in the 1980’s, why has it sat there for almost 40 years before someone has done anything with it.

Maybe Cleanteq can pull it off. The economics look great on paper, but I would expect that at almost $1 billion market cap, a huge amount of that blue sky is already priced in. Maybe Cleanteq propriety tech can help give them an advantage that would help on the deposit. Remains to be seen.

As far as alternatives for a cobalt mine. I would be looking at any explorer/miner in the DRC/Zambian copper belt that has a decent Cu/Co deposit. Cobalt grades will likely be 5-10x the amount that you have at Fifield/Syerston/Owendale.

All IMO of course.