Cobalt Blue Holdings’ Board confident of funding next stages of world-class cobalt project
Financing will be sourced through strategic partnerships, including the use of debt and equity.
Company
ASX:COB
Cobalt Blue is a minerals processing and mining company with interests in cobalt, nickel, copper, zinc, silver and sulphur. The company's critical minerals strategy focuses on building mid-stream processing capabilities in Australia and diversifying supply chains among like-minded countries.
280 stories · page 11 of 14
Financing will be sourced through strategic partnerships, including the use of debt and equity.
The pre-feasibility study will be followed-up by a bankable feasibility study.
The PFS demonstrates that the project is economic with a BFS to now follow.
The PFS demonstrates the potential of the project and recommends advancement to bankable feasibility studies.
Joint venture partner Cobalt Blue Holdings will this week release a PFS and maiden ore reserve.
The company has been granted a trading halt by the ASX pending release of the PFS announcement.
Mapping and sampling has confirmed the presence of almost identical material to that found at Cobalt Blue’s nearby project.
The overall recovery of cobalt in the ore to leach solution was about 88%.
Trangie has been involved with Cobalt Blue since listing in early 2017.
The company's shares are trading about 8.5% higher intra-day, at 8.9 cents.
One of Australia’s few potential cobalt producers from sulphide-based deposits, where cobalt production is underpinned by copper and gold.
Investments and investor services
The new licences are near Cobalt Blue Holdings’ Thackaringa Cobalt Project.
The company has entered an agreement to purchase Nomad Explorations, the owner of the projects.
A geology team is on site implementing a high-level exploration plan to determine an inaugural drilling program.
LGI, which executes resources investment strategy for the LG Group, will provide capital and technical assistance.
Shares in the company were last priced at $1.32 per share.
Joint venture partner Broken Hill Prospecting has confirmed its satisfaction with the stage I earn-in requirements.
Completion of a resource estimate for the Thackaringa project entitles Cobalt Blue Holdings to retain 51% ownership.
An updated desktop review has identified new primary cobalt targets at surface.
The company has established a Copper Growth Strategy as a blueprint for how it will progressively develop its suite of copper projects.