cobalt, page-58

Hi Jumpstart,

I agree with you about the Chinese involvement with Cudeco.

In late 2012 and early 2013 OW and Sinosteel effectively invested over $73m into Cudeco. In late 2013 OW applied for FIRB approval to increase its stake from 15% to 19.99%

You'd think they would have carried out due diligence before committing? I don't know whether they used the DFS in draft form or otherwise but I would think that they would have used the best information available on which to base a decision.

Cudeco is so keen to put out good news that when something isn't released like the DFS people get sus. Given all the missed deadlines and excuses maybe that's fair enough.

Cheers

Bommer