so this is where we're at - the holders of one stalled project...

so this is where we're at - the holders of one stalled project attacking another...

Further to my last remark, I would say that our collective failing as cobalt bulls was underestimating the monopoly on current supply and the power of the monopsony (singular buying power) of the Chinese producers. We believed that certain limitations and risks of that supply would necessitate actions on the part of European/Japanese/American car manufacturers, therefore making marginal projects desirable.

That hasn't yet happened. The brokers who sided with monopolist market power and the short term oversupply narrative were correct. There's the lesson.

While the car manufacturers plod along making unrealistic jabs at cobalt contracts and giant claims on future EV capacity with no resource base.

Everyone who remained a cobalt bull in 2018 made this same mistake. We can't blame this or that director or company for not finding what isn't there, or for the fall in the cobalt price, or for the failure of the demand shock to arrive, or for the lack of interest from financiers. We can try to blame some for taking advantage of the hype to line their pockets, but that's not the case here at CLA. And we can also lay some fault at the feet of the crowd-goaders and pied pipers who pushed companies into extreme overvaluations (particularly in late 2017, from which everything declined), and the commonplace fallacy of "peer valuation". There's another hard lesson.

my two cents, soon to be 0.5 cents