Ann: First Cobalt Proposed MergeCo Presentation, page-12

@Thesi: I am not negative about CO1 and First Cobalt et al - hey, I just bought some! I like the polymetallic deposits, Co, Ag. These were mined and refined for Ag with Co credits. Now, they will be mined and refined for Co with Ag credits. I am no metallurgist, but envisage refinery refinements (!) will be needed.

Simply collecting together deposits and former mines, a mill and a refinery does not instantly create a world-class Co production system. Great building blocks, for sure. It will be a while before the business generates meaningful revenues. I expect faster than five years, though. There is likely an attractive easily exploited Co deposit in the collection to put through the refinery for early returns.

We can only watch and cheer from afar.

Ash