20 year resource, not reserve. There have been plenty of...

20 year resource, not reserve. There have been plenty of companies that have drilled out resources yet their reserves have been much smaller as they start production. They know they can easily drill to increase reserves as required on an ongoing basis, its a mere formality. TAW has commenced production with less than 4 year mine life based on reserves but we know that is a mere technicality, OZL had the same 'issue' at prominent hill.

Agree on not being able to assume current prices stay where they are for the long term, that is my issue with the ARL PFS and why the share price has tanked. I don't expect CLA will require the same high level cobalt price assumption to be economic. If CLA proves they can be economic from a cost perspective, we know their mineralisation is so consistent over a large area that proving up required feedstock over a long term operation won't be an issue.

Mining costs in Zambia are very minimal so the somewhat narrow DOF shouldn't cost too much to get dug up and I am comfortable with the met work thus far. I also think BB has plenty to lose from making quite bullish calls in a public capacity, its not exactly like he has been struggling to find work without being MD here but would tarnish his image if this was a duster.