Cobalt Blue Holdings (ASX:COB) has received a notice of substantial holder from the Hill Family Group Pty Limited, which holds circa 8.1 million shares for a 8.57% stake.
Cobalt Blue hit the ASX boards just last week after a successful IPO after investors bid for the $10 million maximum at the $0.20 issue price.
The company's flagship Thackaringa Cobalt Project is strategically located 23 kilometres south-west of the world class mining centre of Broken Hill within New South Wales.
Cobalt is a necessary metal for the production of the latest generation, high density lithium-ion batteries.