@ funkyroski: thank you for your post. I am familiar with PNR as...

@ funkyroski: thank you for your post. I am familiar with PNR as i also own shares there.V well managed company. But you see Gold demand is not going to increase exponentially unlike Cobalt. Gold is not used in batteries for Electric Vehicles which are starting to boom. There is already currently a shortage of Cobalt.
I invite you to look at a 18 March Thread "Key info on COB", very helpful for people not familiar with COB.
Regarding your point about grade:
COB's starting point of around 900ppm =0.09 % Cobalt in the ground is already a good concentration. The accepted industry standard cut off level for large deposits( like COB) is 500 ppm. Further COB is a Sulphide and not a laterite deposit. The Cobalt deposit is bound up in a unique Quartz/feldspar rock. The clever guys at COB are using a simple low cost crush spiral gravity separation technique on the quartz to increase this concentration by around 5 times. So it will be refined at 0.4-0.5% Co concentration. The higher concentration reduces the capex and opex and puts it closer to DRC levels. COB will only need to treat 20% of the mined ore. As of today to my knowledge no other mine in Australia comes close. This gravity separation technique cannot be used in Cobalt laterite projects (AUZ, CLQ etc). All the above info is found in COB's announcements.If you wish confirmation see the one of 26 Oct on concentration.