That table you're referring to is a little old and doesn't really account for the huge surge in cobalt price over the past couple of years. In the past, it may have been relatively rare for mines to bother with anything much below 1% but they're much more likely to in the future.
That said, 0.11% is still very low grade and I can't imagine it ever being economical. Maybe if it was a vary large resource, near surface, perfect metallurgy, near roads/train lines, etc. but regardless, it's very low grade and will be a serious challenge to make money off it. Stock prices move on announcements like these because of a combination of ignorance and the scarcity of any good cobalt projects on the ASX.
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