Some good points here and others I am not sure what you mean....

Some good points here and others I am not sure what you mean. Agree with first sentence that company has broadly done well to now, with some timing slippages as expected in the sector, inline with what they promised they would. Tick. And agree that the next steps are harder steps, not insurmountable, but certainly harder inc off takes and overall funding

With respect I am not sure what you mean by a number of these points though:

"If you rush and are too eager you will be weaker and potentially pay too much for finance" - I am not sure they will be paying anything for finance based on their preferred model of 70% ish type funding from off takes (prepayiments) and 30% equity raise

"and get too little revenue from your offtake arrangement" - what do you mean by this? Off takes dont normally specify the cobalt price for the next 5-10 years. They will be a commitment of a partner to buy all, or a portion of, COB's prodn normally at the prevailing spot price

"If you take too long, you are also risking missing the boat price wise and allow others to lock in the market." - sorry no idea what this means. Lock in the market? Barring massive tech changes and cobalt becoming obsolete in EV's there is a material and structural deficit of supply relative to demand forecast for the decade from 2025 onwards. COB would then be likely to be able to sell all prodn to either contracted off takers or other parties at very healthy prices esp with their ESG badge proving a real point of difference to Congo

The real fear of the company as I have tried to mention previously on this forum is that Congo implodes and cobalt supply cant be relied on at all. 'Necessity being the mother of all inventions' will then force the industry to look at alternatives NOT using cobalt. We do NOT want Congo going off the rails here and do not believe anyone celebrating this possibility - it is NOT what COB Mgt wants to happen

Cheers