SPP Effect, page-5

cobalt futures up 2.2 percent overnight. This stock is always going to be driven down on a day when S&p down over 2 percent. But volume not high. The key in the cobalt and nickel price rises is that it strengthen’s CLQ’s bargaining power is seeking finance - particularly in the EV battery supply chain. It also likely puts impetus into their desire to secure supply more quickly. Plus, DRC always a risk (see recent news on political instability and rebel massacres) which will favour suppliers in stable low risk jurisdictions. All this will translate into news flow soon and that will be the driver of the share price not single day market gyrations and low volume trading