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Cobalt Blue Holdings attracts funds to increase scale of Pre‐Feasibility Study

The company is focused on the Thackaringa Cobalt Project in New South Wales.
Cobalt Blue Holdings attracts funds to increase scale of Pre‐Feasibility Study
Thackaringa is 23 kilometres southwest of Broken Hill

Cobalt Blue Holdings Ltd (ASX:COB) will gain additional investment in the company via a placement of 11.4 million shares at $0.22 to raise circa $2.5 million.

Following a recent commercial visit in November to Korea and Japan, potential partners highlighted to the company the desire to source cobalt sulphate samples for in-house purity testing.

READ: Cobalt Blue's Joe Kaderavek outlines latest from Korea and Japan visit in Proactive Q&A Sessions™

In order to produce a sufficient sample quantity for evaluation by Japanese, Korean and Chinese entities, Cobalt Blue is raising the funds to:

- Increase the scale of the Pre‐Feasibility study testwork program to produce the volume of cobalt sulphate requested; and
- Potentially enhance Thackaringa’s commercial production via further technical improvements.

The production of these samples is an important step to seeking long term relationships with the battery industry and key equity/debt participants.

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Cobalt Blue Holdings Ltd Timeline

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