Cobalt Blue Holdings Ltd (ASX:COB) has been granted a trading halt by the ASX with an announcement pending in regard to a proposed material fundraising.
The halt will remain in place until the beginning of regular trade on Tuesday, June 15, or when an announcement is released to the market, whichever occurs earliest.
Shares last traded at 36 cents and have risen from 11.5 cents at the market close on December 18, 2020.
MOU with Honeywell
Cobalt Blue has signed an MOU with renowned global process control and optimisation provider Honeywell International Inc (NASDAQ:HON) aimed at further de-risking its flagship Broken Hill Cobalt Project in New South Wales.
This project, which Cobalt Blue expects will supply high-quality cobalt to meet growing global energy needs, covers an area of 63 square kilometres near the traditional mining centre of Broken Hill.
The MOU will see Honeywell provide centralising engineering design, energy optimisation, training and support with the goal of de-risking and cost-optimising the BHCP.