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Cobalt Blue's shares ride higher as Thackaringa Cobalt Project studies progress

The PFS is well advanced with the continuation of metallurgical testwork.
bar graph showing shares rising
The project is a farm-in with Broken Hill Prospecting

Cobalt Blue Holdings Ltd’s (ASX:COB) shares were trading 4.3% higher intra-day at $0.845 as it continues to advance a prefeasibility study (PFS) for its Thackaringa Cobalt Project in New South Wales.

The PFS is well advanced with the continuation of metallurgical testwork along with geotechnical, hydrological and environmental assessments.

READ: Cobalt Blue Holdings well advanced with Thackaringa Cobalt Project prefeasibility study

Importantly, results to date continue to justify proceeding further along the pathway towards commercial development of the Thackaringa cobalt project.

The project is under a farm-in and royalty agreement with Broken Hill Prospecting Ltd (ASX:BPL), which retains the base and precious metal exploration rights.

Cobalt Blue can earn 100% by completing a farm-in, which includes committing $10.9 million project expenditure by 30 June 2020 and paying its partner $7.5 million in cash.

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Cobalt Blue Holdings Ltd Timeline

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