Ann: Exploration and Development Update, page-39

On the 5th March 2018 the Company reported it had undertaken preliminary metallurgical test work to assessthe potential for beneficiation of material from the targetzone. Subsequent analysisreceived shows an upgrading of 0.3%Co, 0.5%Ni, 3.0%Mn material to 1.6%Co, 1.6%Ni & 19.3%Mn (Table 1) may be possible through gravity separation. Table 1 – Grade and Distribution Results from preliminary beneficiation test work for Mt Cobalt Sample Cobalt Copper Nickel Manganese Grade (%Co) Distribution (%) Grade (ppm) Distribution (%) Grade (%Ni) Distribution Grade (%Mn) Distribution Head 0.31 100 465 100 0.49 100 2.99 100 Heavies/Sinks (+1.1mm) 1.59 25 2,189 23 1.63 16 19.35 31 Floats (+1.1mm) 0.26 52 376 21 0.38 48 2.09 44 Untested (‐.1mm) 0.22 23 378 26 0.54 35 2.27 24 The Company is progressing a program of work to evaluate the beneficiation of cobalt, nickel and manganese to a pre‐concentrate on the basis that should valuable minerals be able to be separated out early in the process it could potentially lower the capital and operating costs for a hydrometallurgical processing plant. Alternatively, the Company intends to also evaluate the potential option of direct shipping a beneficiated material.

This is great news