Cobalt Blue CEO shows confidence in integrated cobalt supply strategy with on-market purchase
The Global Cobalt Sample Program incorporating the Pilot Plant is nearing conclusion and the company will then transition to a larger Demonstration Plant.
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.
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The Global Cobalt Sample Program incorporating the Pilot Plant is nearing conclusion and the company will then transition to a larger Demonstration Plant.
The Global Cobalt Sample Program incorporating the Pilot Plant is nearing conclusion and the company will then transition to a larger Demonstration Plant.
Joe Kaderavek in the past week has acquired a total of 395,370 shares valued at more than A$107,000 and spread between two indirect interests.
The company is now fully funded to complete construction of a demonstration plant to provide battery-grade cobalt sulphate to end-users and potential strategic partners.
The company has this week signed an MOU with Honeywell aimed at helping to further de-risk its flagship Broken Hill Cobalt Project in NSW.
“Data quality is essential to attract investment and commercial partners and the implementation of advanced data gathering, and analysis systems will assist the BHCP in this partnering process,” says CEO.
The recently completed Pilot Plant is preparing MHP sourced from the Broken Hill Cobalt Project for the global lithium-ion battery industry as part of COB’s Global Sample Partner Program.
The events last week have highlighted the strong local community as well as commercial and government support for the Broken Hill Cobalt Project and value-adds.
COB subsidiary Broken Hill Cobalt Project Pty Ltd has received notice of the proposed grant of Exploration Licence Application 6225.
The pilot plant has been successfully installed and commissioned with all concentrate, leach and mixed hydroxide recovery circuits tested.
Cutfield Freeman, a specialist resources corporate advisory business, will assist with the partner search, financial advisory and capital raising functions.
The company is looking to apply its proprietary technology for the recovery of cobalt from waste streams and its Broken Hill Pilot Plant will provide the facilities.
The purchase will ensure the BHCP will comply with requirements of the Water Management Act 2000 for the estimated groundwater interception attributed to the proposed open cut mining operations.
This work is part of a Global Cobalt Sample Program which is attracting strong interest with the program doubling in size over the last six weeks.
The company intends to annually produce 3,500 to 4,000 tonnes of cobalt using a very different metallurgical process than laterite treatment and this is expected to be a healthy investment for stakeholders and the environment.
The concentration circuit will generate approximately 15 tones of pyrite concentrate for downstream processing.
With the imminent grant of ELA6151 which lies within the Broken Hill Domain of the broader Curnamona Province, the company’s tenement holding will increase to around 160 square kilometres.
With increasing demand for battery materials from EV manufacturers and progress made to begin production from the Broken Hill Pilot Plant, COB is likely to experience a robust year.
Dr Ian Pringle explains why Cobalt Blues' anticipated co-production of 300,000 tonnes per year of elemental sulphur could be an invigorating growth catalyst for a spectrum of Australian industries.
With increasing demand for battery materials from EV manufacturers and progress made to begin production from the Broken Hill Pilot Plant, COB is likely to experience a robust year.