Cobalt Blue Holdings obtains exploration licence grant increasing tenure by 50% at Broken Hill
The new tenement will enhance the company’s existing exploration footprint covering about 93 square kilometres.
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 9 of 14
The new tenement will enhance the company’s existing exploration footprint covering about 93 square kilometres.
The company has entered into a test work co-operation agreement with GEMC covering the Millennium project.
The tests have achieved 90% recovery of cobalt to concentrate but at a 50-times larger scale than PFS tests.
Investments and investor services
Rob Biancardi, Joe Kaderavek and Hugh Keller have purchased shares with a total combined value of almost $90,000.
The early stage trial product agreement represents a development milestone towards potential future offtake arrangements for elemental sulphur.
The company has launched a Non-Renounceable Rights Issue and plans to follow this with a placement.
The company is planning drilling, geological and geotechnical work, mine planning, engineering, financial and metallurgical studies.
The company holds ground in the Murray Basin in both New South Wales and Victoria.
The company has this week released a “significant” boost in resources at the cobalt project near Broken Hill.
The cobalt-equivalent resource of 79,500 tonnes includes sulphur and a maiden measured component.
The pipeline will help ensure the supply of up to 1.5 gigalitres of water annually to service the project's processing and refining requirements.
The company has received positive results in large-scale metallurgical test work on ore samples collected from drilling.
Along with metallurgical work, the company is undertaking a resource upgrade at Thackaringa, due at the end of March.
Strong cobalt results have been returned from drilling at the Pyrite Hill deposit, including at depth.
Investments and investor services
Despite a sharp price correction in 2018, shrinking supply sources and growing demand for battery chemicals are predicted to sustain cobalt prices into the 2020s.
Investments and investor services
The company will apply the funds to help finance a 15,000-metre drilling program at the Thackaringa Cobalt Project.
Investments and investor services
The halt will remain in place until the start of trading next Monday or when an announcement is released.
Results reinforce the potential for resource growth and substantial mine life at the world-class project near Broken Hill.
The company announced its advancement to a 93.68% beneficial interest in the Thackaringa Joint Venture.
Investments and investor services
Robert Biancardi’s purchases follow recent on-market acquisitions by CEO Joe Kaderavek and director Hugh Keller.