Hello Fredgillo,its more of a supply then demand issue. EV sales...

Hello Fredgillo,

its more of a supply then demand issue. EV sales figures have moved higher. The medium and long term outlook for EV is still strong with many car manufacturers listing new models every year. We have countries that have petrol car bans from 2030 for new sales. It's been well stated that cobalt containing batteries will be included in future models. Toyota future battery timetable for example includes cobalt style batteries for some of the models.

the issue with cobalt in particular has been new supply out of Indonesia. This new supply has covered the uptick for demand and outpaced demand. This will remain the case for the whole of 2024. Lithium has suffered the same fate with too much supply going online at the same time.

Pricing for cobalt will improve next year.

For 2024, the driver will be the binding financial agreement for the refinery building.

Hindsight is a Great thing. Selling COB 12+ months ago and buying back now would have been sweet timing. Now as a long termer I have to slug out a year of a depressed market and Stock Price.

in regards to management, I have been generally positive however they have been slow for a while, keep moving the goal posts and submit announcements to the market prematurely without having completing the task in full. Ie Flin Flon testing and the last refinery update which had not much in it.

They have received 15 million grant to fast track the project however no DFS and no Environmental Impact statements for broken Hill. They need to get a move on and complete.

Refinery must start construction this year!