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 company is targeting development of its BHCP project to coincide with an anticipated cobalt price rally and when the market demands a new mine to meet projected demand.
Construction of the pilot plant is progressing well with key equipment in place and steelworks to be completed by Christmas.
The ethical supply of cobalt to meet the growing global need for the tech-metal is an increasingly important factor.
The company welcomes the proactive approach initiated by the Federal Government in facilitating investment interest in critical minerals development and processing in Australia.
The aim of a pilot plant being built in Broken Hill Pilot Plant is to prepare cobalt samples to satisfy raw material standards for global battery makers.
Construction will be followed by a commissioning period and the company will hire local plant personnel with first production expected in February 2021.
The company is building a pilot plant to test the leaching of calcined material in two campaigns to produce 5 tonnes of concentrate.
Funds will primarily be used to establish a Broken Hill-based Pilot Plant, with key equipment on-site and construction to start shortly.
The company is building a pilot plant at Broken Hill to produce varying specifications of cobalt products, including mixed hydroxides and sulphates, from Broken Hill Cobalt Project core.
There is “substantial potential for cobalt-pyrite mineralisation to continue along trend from the deposit and the ore body is likely to persist to considerable depths beneath the planned open pits”.
Funds raised will be sufficient to advance towards the achievement of further milestones for the Broken Hill Cobalt Project.
The halt will remain in place until Friday, July 31, or when an announcement is released.
Joe Kaderavek has this week purchased 45,000 shares taking his total holding to more than 4.132 million in three indirect interests.
A Project Update 2020 Study demonstrates “a capital-efficient, low-cost, long-life mine/refinery making a premium battery-ready product in a safe and stable jurisdiction”.
The company is now finalising a 2020 project update and ore reserve statement for the Broken Hill Cobalt Project.
The pandemic will change the world in a number of ways, including driving demand for cleaner and greener transport and industrial solutions.
Test-work has produced strong hydroxide results with around 37% cobalt and 7% nickel content with low impurities. This represents a premium product.
While taking all appropriate measures to prevent the spread of COVID-19, the company is not treading water.
The company intends producing a higher value cobalt sulphate and its research is being part-funded by the Cooperative Research Centre – Project.
The COB Process achieved excellent metal recoveries with float results of 93% cobalt, 93% copper and 80% gold to concentrates.
