Standing Strong !!, page-65

Yep! What was the plan for what happens after the release of the SS? "If we have a good SS someone will throw money at us"? We have 2 JV partners in a dance with Mr Creasy. Lots of moving parts, not much direction or clear progress.

Compare this to p. 8 of the Annual Report just released by AUZ. Clear focus. Clear plan. Delivering samples of the end product to several interested buyers. Successful recent small capital raising to fund a Feasibility Study and demonstration batching plant (not plugging them - but the difference in approach at the moment is stark).

Which Cobalt play would you back to get to market first - the one waiting for it to happen, or the one making it happen? Problem for CNJ & BAR is that the market has lost confidence in their management ability to make it happen. Can you imagine them now going to market to raise a couple $mil to fund a Feasibility Study - not going to happen any time soon. Available evidence suggests they are reliant on someone else making it happen for them. Not a good look if you want to try to negotiate an offtake agreement. Not a good way to get the best value out of what seems to be a very good prospective project.

The most telling thing for me is that the boards of BAR & CNJ seem prepared to stand by whilst the SP's tank without any publicity or announcements to stem the bleeding. Suggests a fund raising to keep moving forward is off the table. Maybe they are getting their ducks in a row - but I can't say I have a lot of confidence. I'll be wanting to see evidence of a plan before I go back near either of them.