Current SP and any other thoughts, page-1800

CLA has slowed down because uneconomical at current cobalt prices. When they didn't release the actual costs in the SS it was fairly obvious the cost would be high because of the lower grades.

Seeing Ned and Duck here, I thought I'd have a look at their Kodal boards, and Daz you've been a bit cheeky over there mate. They were excited about stealing the tenements we applied for, good on them, you should have let them have their little win.

Also noticed Kodal released their updated JORC, and surprise surprise, their grade has dropped even further! They now have a resource of 20Mt @ 1.1% after drilling 35000m... further evidence that deposits like Goulamina aren't just lying around everywhere.

One of the key differences between BGS and the smaller, lower grade explorers is that it has already proven itself to be very economic through several scoping and feasibility studies. My rough calculation of KOD's Npv based on similar parameters is that it is barely feasible, especially using such a short mine life, high strip ratio and low grade. There is a reason explorers like Kod turn away the attention from costings in both capex and opex, and until they can get some hard figures out to shareholders I am not convinced it is even worthy of development.