Nearology, page-35

Copy of COB's Thackaringa PFS:

https://www.asx.com.au/asxpdf/20180704/pdf/43w8smpw7d82s8.pdf

Notes on my quick review of COB Pre-feasibility Study (68 pages):

Cobalt recovery assumed at 85.5%, lower than I was expecting.
CAPEX A$550 million (includes A$66 million contingency).
8% discount rate (pre-tax).
7.5% discount rate (post-tax) based on production target.
LT cobalt price US$32.87/lb.
LT FX rate A$/US$0.70
Plant throughput 5.25 Mtpa.
Post tax NPV A$544 million.
Post tax IRR 22%.
Project payback 4 years (simple).
Page 14 has NPV and other sensitivities.

Next target date for COB is 30 June 2019: BFS

AYR, HAV, CCZ, AUZ etc not directly named in the PFS, indirectly referred to on page 2.

Good write-up on elemental sulphur vs sulphuric acid on page 6.

Cheers

These are only my random thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.

HAV fanboy: still drinking the Kool-Aid