The gist here is that Congress sent a letter to the DoD in Sept...

The gist here is that Congress sent a letter to the DoD in Sept 22 asking it to direct the DLA “to prioritise the acquisition of domestically refined cobalt" but the DLA said "Nup".

And stockpiling plans (Oct 2023-September 2024) didn't include Co.

Management would have been aware of this decision, but of course - kept it hush, hush from shareholders.

Question 1:

A please explain from management why the DLA decided against stockpiling cobalt when Congress had basically ordered them to do so would be good.

Question 2:

Why on Earth did they proceed with the mine construction when they most likely knew that the USG weren't going to stockpile some for defense purposes (in the near-term)?

Were they that bullish on cobalt that they thought the broader market would absorb their material (when prices were plummeting at the time & there was a lot of talk around an oversupply)?

We know that they are desperate for USG help, however, there won't be any domestic stockpiling until October 2024 at the earliest (and ONLY IF the DLA reverses its stance on stockpiling cobalt & from domestic sources).

This company is going nowhere & will 100% need AustralianSuper to save their bacon (once again) in the coming months.

#crockerout

https://www.mining.com/web/us-explored-adding-more-cobalt-to-defence-stockpiles-sources-say/