Interesting comment.
ARL (laterite) did essentially the same thing as CLA have done here at the end of last year to conserve cash. This being due to challenging market conditions aka Nickel and Cobalt prices have fallen. Their share price has held up reasonably well since.
AUZ and CLQ have decided to push ahead in the hope some fantasy land exists where people are going to donate over $1bn to projects not currently economical based on current prices. AUZ just raised cash with high dilution, I would guess that CLQ arent too far off doing the same either. Both share prices there have suffered a lot and are in severe downtrends.
Reality is this project is going nowhere without cobalt prices at least double where they are now.
The only ASX cobalt company to have any success of late is NZC with a takeover... NZC being sulphide.
Ann: Opuwo Project Update and Board Changes, page-441
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