Ann: Gindalbie Executes Farm-in and Joint Venture Agreement, page-15

hi albalad. I didn't say there was anything new about cobalt. The cobalt at Mt Gunson has been economically unrecoverable with traditional methods and even worse has made the copper economically unrecoverable as well. Torrens have developed new processes that look to have the potential to invert that weakness and make it a strength.

It is an interesting point you make re the Chinese shareholders in GBG. If they were after cobalt to improve their steel, wouldn't they first be looking for a new source of iron ore? Has that occurred?