COB PFS, page-3

Blue Ocean believes a cobalt price of around US$25 per pound is probably defensible, particularly given the spot price is around US$43, and supply appears relatively constrained over the next few years.
“If mine life can be extended to about 20 years, and we believe it probably will, at a cobalt price of US$25/pound our NPV10 for Thackaringa is about A$800 million,” McIntyre said.
“In that light, could this company be trading with a market cap of $300-400 million near-term? We certainly think so, particularly given the scarcity of viable cobalt exposures for global institutional investors.

http://www.*.com.au/companies/news/...nths-and-it-has-a-long-way-to-run-193755.html

Also not able to find other article which has similar views with cap raising around $2.25 post PFS and share price in the range of $3 - $4