Proactiveinvestors Australia Cobalt Blue Holdings Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Cobalt Blue Holdings Ltd RSS feed en Tue, 25 Jun 2019 05:52:42 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Cobalt Blue completes successful concentrate circuit program tests ]]> https://www.proactiveinvestors.com.au/companies/news/222647/cobalt-blue-completes-successful-concentrate-circuit-program-tests-222647.html Cobalt Blue Holdings Ltd (ASX:COB) has completed a large-scale concentrate circuit test program which has achieved 90% recovery of cobalt to concentrate from the Broken Hill Cobalt Project.

Results are in line with those produced in pre-feasibility test work but on a larger scale.

The quantity of material was upscaled by 50-times compared to the pilot trial with commercial-scale spirals used for the tests.

COB is encouraged by the positive results achieved and successful use of the commercial-sized spirals bodes well for commercial implementation of the circuit.

READ: Cobalt Blue Holdings Ltd enters sulphur agreement with Mitsubishi Corporation, shares jump

Shares were up more than 7% today to 14.5 cents.

Since completing the pre-feasibility study (PFS) in mid-2018, COB has been advancing the metallurgical program for the project.

This year the work has seen COB treat 45 tonnes (wet basis) of reverse circulation (RC) drill chips through a pilot-scale concentrate circuit at ALS Metallurgy in Burnie, Tasmania.

Samples of ore from the Pyrite Hill, Big Hill and Railway deposits were collected during the

2017 drilling campaign and stored in the core yard at Broken Hill prior to processing.

Deposit plan showing the location of drill holes which were the source of material for the test work.

Mass Weighted Average Cobalt Grades per 1-metre drill core interval samples.

READ: Cobalt Blue raising funds to support large-scale test work at Thackaringa project

As part of the 2017 scoping study and 2018 PFS, COB developed a simple circuit for upgrading the ore into a pyrite-concentrate prior to refining.

The key driver for the circuit selection, was to take advantage of the large (coarse) grained pyrite, and thereby minimise crushing and milling costs.

After extensive mineralogical characterisation and bench-scale evaluation of different concentrate methods, a combined gravity-flotation circuit was selected.

The ore was crushed/milled to 1mm topsize, and passed across gravity spirals, to produce a gravity concentrate.

Gravity rejects were size-classified and the fine fraction (nominally <125 um) sent to a flotation circuit for scavenging the remaining cobalt-pyrite.

In the current pilot-scale program, the circuit has been shown to be robust, with successful concentration of variable ore grades.

Overall deportment of cobalt, cobalt grade, and mass through the pilot-scale concentrate circuit.

Furthermore, the combination of two techniques - gravity and flotation - provides an effective method for treating ore samples which vary in particle size distribution.

These are two common hurdles for reliable concentrator operations.

Operating rougher spiral (left) and cleaner spiral, with ‘heavy’ pyrite concentrate being separated from ‘light’ feldspar/silica gangue.

Key results:

The overall recovery of cobalt was 90%, in-line with the PFS test work results. Cobalt grades in the gravity and flotation concentrates were remarkably similar, ranging from 4444ppm to 5075ppm. This confirmed that the cobalt content in the host pyrite mineral was consistent across the range of ore grade samples. Variations are likely due to differences in liberation of pyrite grains from the gangue feldspar/silicates. Tailings rejects typically graded 100–180ppm cobalt, which was close to the analysis detection limit of 100ppm cobalt (XRF method was used).  Sub-samples have been sent for characterisation of acid-forming properties (Bureau Veritas Adelaide), and other sub-samples are being evaluated for incorporation into overall mine waste rock and process plant tailings management studies (ATC Williams). Optimisation of the classification step, and the possible inclusion of a regrind unit operation, may lead to improved cobalt recoveries. This will be considered in future test work programs.

Coarse tails accumulating in bulka bag (left), wet concentrate stored under water in plastic drum.

READ: Cobalt Blue hits another milestone towards target of 20-plus year mine life at Thackaringa

The simplicity of the circuit equipment and the robustness to account for low-average-high grade ore and variable particle size distributions, provides a strong foundation for the process plant operations.

The ability to upgrade the ore by concentration, while retaining about 90% of the cobalt and rejecting about 80% of the feed ore to tails, significantly reduces the capital and operating costs for a refinery.

Summary of campaigns and feed batch sizes.

COB is preparing detailed plans for continued pilot testing of the flowsheet. This will include the following steps:

During 2H 2019, the 7–8 tonnes of concentrate produced from the pilot-trial, will be progressed through a pilot-scale furnace operated by ANSAC in Bunbury. Plans are being prepared for a second concentrate trial, utilising the remaining 40–45 tonnes of mineralised material stored at Broken Hill. This will focus on seeking improved recoveries via process optimisations. Engineering design work will now commence to update the PFS costings for the concentrate circuit. Geo-metallurgical studies will now commence, with a focus on linking in-ground ore characteristics to extractive mining techniques (blasting, load and haul), and crushing/milling requirements. ]]>
Mon, 24 Jun 2019 16:48:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222647/cobalt-blue-completes-successful-concentrate-circuit-program-tests-222647.html
<![CDATA[News - Cobalt Blue directors support company by participating in entitlement issue ]]> https://www.proactiveinvestors.com.au/companies/news/222119/cobalt-blue-directors-support-company-by-participating-in-entitlement-issue-222119.html Cobalt Blue Holdings Ltd (ASX:COB) directors continue to show great confidence in the company’s cobalt strategy supported by sulphur through participation in a non-renounceable entitlement issue.

Chairman Rob Biancardi has purchased 158,333 shares with a total value of $19,000 and now holds more than 3.515 million shares in indirect interests.

Chief executive officer Joe Kaderavek has purchased 462,585 shares with a total value of more than $55,500.

He now holds more than 3.387 million shares in indirect interests.

READ: Cobalt Blue Holdings raising up to $2.49 million for Thackaringa Cobalt Project

Director Hugh Keller purchased 125,834 shares with a value of more than $15,000 and now holds almost 881,000 shares in direct and indirect interests.

COB shares today are up more than 7% to 15 cents.

The company is raising up to $2,491,871 via the 1 for 6 non-renounceable entitlement issue to shareholders.

Blue Ocean Equities is acting as lead manager and will fully underwrite the entitlement issue.

READ: Cobalt Blue raising funds to support large-scale test work at Thackaringa project

COB will use the funds to support further development of the Broken Hill Cobalt Project in far west NSW, including drilling, geological and geotechnical work, mine planning, engineering, financial and metallurgical studies.

COB is continuing to enhance economics at the project, formerly called the Thackaringa project, and recently released a significant boost in cobalt resources.

The resource now comprises 111 million tonnes at 889ppm cobalt-equivalent for 79,500 tonnes of contained cobalt at a 400ppm cobalt-equivalent cut-off.

READ: Cobalt Blue Holdings Ltd enters sulphur agreement with Mitsubishi Corporation, shares jump

Elemental sulphur is also a potential extra revenue stream from the project and the company recently entered into an agreement with Mitsubishi Corporation for market evaluation of this product.

The company, which is targeting annual production of up to 4,000 tonnes of cobalt and 300,000 tonnes of elemental sulphur, believes the Mitsubishi agreement will help facilitate its sulphur aims.

]]>
Fri, 14 Jun 2019 15:01:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222119/cobalt-blue-directors-support-company-by-participating-in-entitlement-issue-222119.html
<![CDATA[News - Cobalt Blue Holdings Ltd enters sulphur agreement with Mitsubishi Corporation, shares jump ]]> https://www.proactiveinvestors.com.au/companies/news/221269/cobalt-blue-holdings-ltd-enters-sulphur-agreement-with-mitsubishi-corporation-shares-jump-221269.html Cobalt Blue Holdings Ltd (ASX:COB) has entered into an agreement with Mitsubishi Corporation for market evaluation of elemental sulphur from the Broken Hill Cobalt Project.

COB aims to be a new supplier of elemental sulphur, which will provide an additional revenue stream to the primary cobalt sulphate to be produced at the project, previously called the Thackaringa project.

The company, which is targeting annual production of up to 4,000 tonnes of cobalt and 300,000 tonnes of elemental sulphur, believes the Mitsubishi agreement will help facilitate its sulphur aims.

Investors have responded positively with shares up as much as 78% to an intra-day high of 24 cents.

In this Q&A with Proactive Investors, Cobalt Blue’s CEO Joe Kaderavek comments on the sulphur agreement.

Proactive Investors: What is the significance of the latest announcement?

Joe Kaderavek: Mitsubishi is an active global sulphur market trader. This early stage trial product agreement between COB and Mitsubishi represents a development milestone towards potential future offtake arrangements for elemental sulphur.

COB intends to produce up to 100 tonnes of sulphur from bulk test work trials over the next 18 months.

Proactive Investors: How important is sulphur to the project?

Joe Kaderavek: The Broken Hill Cobalt Project aims to become a globally significant primary cobalt producer. Cobalt sulphate represents approximately 80% of project revenue, with elemental sulphur sales contributing approximately 20% of revenues.

Our aim is to produce 300,000 tonnes of elemental sulphur per year.

The Australian transcontinental railway passes through the tenements and will allow COB to efficiently freight sulphur to domestic buyers, or export through any of the Spencer Gulf ports surrounding Adelaide, South Australia.

COB is working with Enersul (Canada) to turn the powdered sulphur into a high-quality prilled form. This is suitable for long-distance transport and rehandling, without production of excess dust or fine particulates.

Proactive Investors: Why does the Broken Hill project produce sulphur? Why not sulphuric acid?

Joe Kaderavek: The Broken Hill Cobalt Project contains a large resource of cobalt in pyrite. Historically, the approach was to roast the pyrite which would produce sulphuric acid, excess energy, and a residual calcine which can be difficult to leach for cobalt.

In contrast, our innovative approach is to thermally decompose the pyrite, which generates elemental sulphur, and a readily leachable calcine for subsequent cobalt extraction. The process avoids the significant capital and operating costs for production of large quantities of sulphuric acid, and thereby minimises the safety risks associated with handling, storage and transport of acid.

Australia imports over 1 million tonnes of elemental sulphur (equivalent) per annum, mostly from Vancouver, Canada, with over 50% going into the domestic fertiliser industry. This demand is forecast to rise steadily.

Overall, COB is aiming to be a new supplier of elemental sulphur and the only significant producer within Australia. This will enable COB to strategically supply end-user markets throughout South East Asia with minimal logistics costs.

A summary of our process flowsheet is shown below.

 

Proactive Investors: COB recently attended the Cobalt Institute Global Conference – what were the key takeaways?

Joe Kaderavek: Our executive manager Andrew Tong attended the 2019 Cobalt Institute Conference in Hong Kong on May 15 and 16. The conference had a record attendance of more than 300.

In addition to updates on the changing regulatory framework for ethical and sustainable cobalt, much of the conference was devoted to reflecting on the recent cobalt price spikes in 2017-2018 and how this would impact future supply and consumption.

The general view was that future demand over the coming decade remains strong for cobalt, with supply needing to increase two to three times on 2019 production, to meet a six-times increase in battery gigawatt factory output by 2028.

However, in the near to medium term, cobalt prices are expected to appreciate slowly and bottlenecks in the supply chain from mine to refined cobalt sulphate have largely been removed due to massive investment in the sector since 2017.

Proactive Investors: COB is undertaking a fund raising, can you update us?

Joe Kaderavek: We are raising funds for advancing large-scale metallurgical test work programs being undertaken since the completion of the PFS in mid-2018. This includes increasing the scale of the program to a total of 90 tonnes of ore and produce cobalt sulphate and elemental sulphur for marketing assessment.

READ: Cobalt Blue raising funds to support large-scale test work at Thackaringa project

The COB Entitlement Issue closes at 5pm on Monday, June 3, 2019. The support from shareholders has been very strong, with a number requesting further stock via the top-up facility. If any shareholder has not received their offer documents and application forms please don’t hesitate to contact COB on info@cobaltblueholdings.com  or (02) 8287 0660

Proactive Investors: Thankyou Joe.

]]>
Fri, 31 May 2019 12:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221269/cobalt-blue-holdings-ltd-enters-sulphur-agreement-with-mitsubishi-corporation-shares-jump-221269.html
<![CDATA[News - Cobalt Blue raising funds to support large-scale test work at Thackaringa project ]]> https://www.proactiveinvestors.com.au/companies/news/220258/cobalt-blue-raising-funds-to-support-large-scale-test-work-at-thackaringa-project-220258.html Cobalt Blue Holdings Ltd (ASX:COB) aims to raise up to almost $3 million in a Non-Renounceable Rights Issue and subsequent placement with funds to advance the world-class Thackaringa Cobalt Project near Broken Hill.

The company has this week announced a 1 for 6 non-renounceable entitlement issue to shareholders to raise up to $2,491,871.

COB also intends to raise a further $500,000 in a placement.

READ: Cobalt Blue Holdings raising up to $2.49 million for Thackaringa Cobalt Project

In this Q&A with Proactive Investors, Cobalt Blue’s CEO Joe Kaderavek comments on the Non-Renounceable Rights Issue.

Proactive Investors: Why are you raising money?

Joe Kaderavek: Our long-term cobalt market view has not changed as we continue to fund the advancement of the world-class Thackaringa Cobalt Project. Thus, project development work continues, indifferent to the current noise of both the equity and cobalt metal markets.

Specifically, we are raising funds for advancing large-scale metallurgical test work programs being undertaken since the completion of the PFS in mid-2018. This includes increasing the scale of the program to a total of 90 tonnes of ore and produce cobalt sulphate and elemental sulphur for marketing assessments.

Efforts will also be focused on planning future exploration activities. This includes reviewing and interpreting historical data of the Thackaringa Cobalt Project as well as the broader Broken Hill region.

Finally, we continue to progress studies that will underpin the operating permits and approvals. 

Proactive Investors: What are the key terms/dates of the deal?

Joe Kaderavek: It’s a Non-Renounceable 1 for 6 Entitlement Issue at 12 cents per share to raise $2.49 million. Our board felt that such an offer, at these current prices, should be extended to current shareholders so as to avoid diluting them. We have also asked Blue Ocean Equities, the lead manager and underwriter, to raise up to further $500,000 as a placement.

I’m very happy to announce that the rights issue is fully underwritten, in turn reflecting strong market demand.

Key dates are:

Importantly, please remember that the closing date for entitlements is 5pm AEST on June 3, 2019.

Proactive Investors: Can Investors Top Up?

Joe Kaderavek: Several key shareholders have asked about the ability to top up. I am pleased to confirm, that in the event shareholders do not take up their full entitlements, a top up facility is available for shareholders (who have taken up their rights) to apply for new COB shares additional to their entitlement. However, there is no guarantee additional shares applied for will be received.

READ: Cobalt Blue hits another milestone towards target of 20-plus year mine life at Thackaringa Proactive Investors: Coincidently, Cobalt Blue is attending the Cobalt Institute annual conference in Hong Kong – what are your aims?

Joe Kaderavek: Our Executive Manager Dr Andrew Tong is attending the Cobalt Institute global conference on May 15 and 16 in Hong Kong. The conference brings together global market participants in the cobalt production and distribution chain, including producers, traders, customers, and of course, investors. The appetite for long-term cobalt remains strong and COB continues to patiently build our commercial and investment relationships.

Proactive Investors: Thankyou Joe.

]]>
Wed, 15 May 2019 09:04:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220258/cobalt-blue-raising-funds-to-support-large-scale-test-work-at-thackaringa-project-220258.html
<![CDATA[News - Cobalt Blue Holdings raising up to $2.49 million for Thackaringa Cobalt Project ]]> https://www.proactiveinvestors.com.au/companies/news/220096/cobalt-blue-holdings-raising-up-to-249-million-for-thackaringa-cobalt-project-220096.html Cobalt Blue Holdings Ltd (ASX:COB) is raising up to $2,491,871 via a 1 for 6 non-renounceable entitlement issue to shareholders.

Shareholders can subscribe for one share for every six shares held at the record date (7:00pm AEST on May 17 2019) at an issue price of 12 cents per share.

Blue Ocean Equities will act as lead manager and will fully underwrite the entitlement issue.

READ: Cobalt Blue welcomes commissioning of water pipeline to Broken Hill

The maximum number of shares to be issued under the entitlement issue is 20,765,589 (assuming that none of the 27,171,547 options on issue are exercised) and the amount to be raised is $2,491,871.

If all of the 27,171,547 options are exercised, then a further 4,528,591 fully paid ordinary shares may be issued under the entitlement offer.

The issue price of 12 cents per new COB share represents a discount of about 14.3% to the last closing price of COB shares on May 10 2019 of 14 cents.

COB will use the funds to support further development of the Thackaringa Cobalt Project in NSW, including drilling, geological and geotechnical work, mine planning, engineering, financial and metallurgical studies.

READ: Cobalt Blue hits another milestone towards target of 20-plus year mine life at Thackaringa

COB is continuing to enhance economics at the Thackaringa Cobalt Project and recently released a significant boost in resources.

The resource now comprises 111 million tonnes at 889 ppm cobalt-equivalent for 79,500 tonnes of contained cobalt at a 400 ppm cobalt-equivalent cut-off.

]]>
Mon, 13 May 2019 14:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220096/cobalt-blue-holdings-raising-up-to-249-million-for-thackaringa-cobalt-project-220096.html
<![CDATA[News - Cobalt Blue hits another milestone towards target of 20-plus year mine life at Thackaringa ]]> https://www.proactiveinvestors.com.au/companies/news/218018/cobalt-blue-hits-another-milestone-towards-target-of-20-plus-year-mine-life-at-thackaringa-218018.html Cobalt Blue Holdings Ltd (ASX:COB) continues to enhance economics at its Thackaringa Cobalt Project near Broken Hill in Far West NSW and this week has released a “significant” boost in resources.

This estimate along with ongoing metallurgical tests are part of a program of improving the already positive outcomes from a pre-feasibility study (PFS).

READ: Cobalt Blue achieves “significant” boost in Thackaringa Cobalt Project resources

In this Q&A with Proactive Investors, Cobalt Blue’s CEO Joe Kaderavek comments on the resource upgrade.

Proactive Investors: What is the significance of the latest announcement?

Joe Kaderavek: Since listing in early 2017, COB has maintained a focus on growing the resource base to underpin a globally significant long-life cobalt project. In that time, COB has completed approximately 30,000 metres of drilling, and today we have declared a total mineral resource containing about 80,000 tonnes of cobalt at 889ppm cobalt equivalent grade.

This is a strong reward for our efforts and is a major milestone towards realising our target of a 20-plus year project life. The recent infill drilling program has allowed us to declare a maiden measured resource, which will underpin a future proven reserve statement.

Proactive Investors: Why have you amended the cobalt cut-off grade?

Joe Kaderavek: COB has developed and adopted a more appropriate cut-off grade for the deposits based on the results reported in the recently completed pre-feasibility study (PFS). In that study, the metallurgical test work confirmed that both cobalt and sulphur could be monetised from the deposit.

The independently prepared mining reserve from Mining One confirmed that the overall process and project evaluated in the PFS was technically and economically viable. Historically, a cut-off grade of 500ppm cobalt was used for the deposit, but now COB is using a 400ppm cut-off grade which includes value from both cobalt and sulphur. 

Proactive Investors: Having completed the updated resource model, what are the near-term goals for COB?

Joe Kaderavek: Alongside the drilling campaign, COB has been progressing bulk scale metallurgical test work. A recent announcement outlined initial results from a concentrate trial using 45 tonnes of ore samples.

READ: Cobalt Blue indicates positive cobalt recoveries in Thackaringa metallurgical work

This will be followed up with subsequent releases, as the samples are progressed through the entire flowsheet to produce cobalt sulphate and elemental sulphur. A second 45-tonne sample is in storage in Broken Hill for additional pilot testing through 2019.

In parallel, we are continuing to progress environmental and permit approvals, building relationships with the community, reviewing mine waste and process plant tailings management strategies, and engaging with regulators and stakeholders.

Proactive Investors: You recently completed a roadshow in Asia – what were the outcomes?

Joe Kaderavek: COB has established a strong portfolio of relationships with key battery and resource industry participants across Korea, Japan and China, as evidenced by LGI’s investment in COB during 2018.

Widely accepted forecasts for cobalt deficits beyond 2023, continue to drive battery industry participants to seek new sources of cobalt. Therefore, there is strong interest in alternative sources of cobalt from countries with low sovereign risk.

In particular, Australian projects are actively being evaluated, with the COB project offering a uniquely simple primary cobalt operation. We believe that successful bulk scale test work to produce large quantities (100s of kilograms) of cobalt sulphate for battery testing, will be a strong catalyst for securing further commercial interest in our project.

In addition to marketing cobalt units, COB has commenced discussions for elemental sulphur. Sulphur represents about 20% of the revenue from the project, as reported in the PFS.

In Australia, around 1 million tonnes of sulphur is imported from Canada annually. This is mainly used for the on-site production of sulphuric acid for the fertiliser industry or for metallurgical leaching.

COB is aiming to produce 300,000-500,000 tonnes of sulphur for the life of the project. A summary of our project is shown below:

Proactive Investors: Thankyou Joe.

]]>
Fri, 05 Apr 2019 13:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/218018/cobalt-blue-hits-another-milestone-towards-target-of-20-plus-year-mine-life-at-thackaringa-218018.html
<![CDATA[News - Cobalt Blue achieves “significant” boost in Thackaringa Cobalt Project resources ]]> https://www.proactiveinvestors.com.au/companies/news/217926/cobalt-blue-achieves-significant-boost-in-thackaringa-cobalt-project-resources-217926.html Cobalt Blue Holdings Ltd (ASX:COB) has “significantly” boosted resources following a drilling campaign at the Thackaringa Cobalt Project, near Broken Hill in Far West NSW.

The resource now comprises 111 million tonnes at 889ppm cobalt-equivalent for 79,500 tonnes of contained cobalt at a 400ppm cobalt-equivalent cut-off.

Maiden measured resource

This includes a maiden measured resource of 8 million tonnes at 1,150ppm cobalt-equivalent for 17,100 tonnes of contained cobalt.

The update follows 9,500 metres of drilling completed in the fourth quarter of 2018 and first quarter of 2019 targeting the definition of a component of measured mineral resources.

READ: Cobalt Blue results support potential to improve and upgrade Thackaringa cobalt resource

Cobalt Blue’s CEO Joe Kaderavek said: “We are pleased with the improved classification achieved through the recent drilling campaign.”

He said 66% of the mineral resource was now available for potential conversion to proven and probable ore reserves.

Thackaringa’s previous estimate at a 500ppm cobalt cut-off was 72 million tonnes at 852ppm cobalt for 61,500 tonnes.

READ: Cobalt Blue progresses technical work on Thackaringa Cobalt Project

The infill drilling was aimed at enhancing geological confidence and data density and focused on the upper extent of the Pyrite Hill deposit, less than 200 metres from surface.

This deposit extends over 1.2 kilometres along strike and is drill tested to around 300 metres down dip.

Inputs derived from the Thackaringa pre-feasibility study have supported a revision of the resource cut-off grade from 500ppm cobalt to 400ppm cobalt equivalent.

Sulphur included in resource

This has resulted in the inclusion of elemental sulphur as a revenue stream, which has contributed to a “significant” increase in the resource.

The updated resource reflects a sustained exploration effort by COB with 30,000 metres drilled from 2016.

This has realised a 235% increase in resource tonnes and a 189% uplift in contained cobalt since COB issued its prospectus and became an independent company listed on the ASX.

“Strong record of resource growth”

Kaderavek said: “COB continues to maintain a strong record of resource growth with the update demonstrating a firm step toward realisation of COB’s plus-20-year mine life target.”

At Pyrite Hill deposit, the company’s drilling fleet navigated steep terrain to increase data density through the oxidation profile.

Drilling intersected variable zones of sulphide mineralisation intercalated with localised oxidation.

READ: Cobalt Blue indicates positive cobalt recoveries in Thackaringa metallurgical work

This provided sufficient constraint to include ‘transition’, or partially weathered, material for Pyrite Hill.

The campaign also allowed completion of an initial phase of drilling to test down-dip extensions of this deposit with holes intersecting mineralisation around 180 to 280 metres below surface.

]]>
Thu, 04 Apr 2019 15:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217926/cobalt-blue-achieves-significant-boost-in-thackaringa-cobalt-project-resources-217926.html
<![CDATA[News - Cobalt Blue welcomes commissioning of water pipeline to Broken Hill ]]> https://www.proactiveinvestors.com.au/companies/news/215657/cobalt-blue-welcomes-commissioning-of-water-pipeline-to-broken-hill-215657.html Cobalt Blue Holdings Ltd (ASX:COB) has received a further boost for its Thackaringa Cobalt Project with the commissioning of a 270-kilometre water supply pipeline from the Murray River at Wentworth to Broken Hill.

The pipeline will help ensure the supply of up to 1.5 gigalitres per year of water by provider Essential Water to service the cobalt processing and refining requirements of the project.

Long-term water security

Cobalt Blue has extended its congratulations to WaterNSW and their project partners John Holland and MPC Group for the successful construction and commissioning of the pipeline.

This project will provide long-term water security for the community by supplying up to 37.4 megalitres per day to the Essential Water treatment plant at Broken Hill.

READ: Cobalt Blue progresses technical work on Thackaringa Cobalt Project

The company said that it would also significantly de-risk the Thackaringa Cobalt Project, which is about 25 kilometres southwest of Broken Hill.

Cobalt Blue continues to receive positive results from technical work at the project which is aimed at improving the positive outcomes from a pre-feasibility study (PFS).

READ: Cobalt Blue indicates positive cobalt recoveries in Thackaringa metallurgical work

Last week, positive results were received from large scale metallurgical test work with cobalt-pyrite concentrates produced from 45 tonnes of ore samples.

The weighted average recovery of cobalt from the ore to cleaner gravity concentrate was 68%, from a weighted average head ore grade of 1,002ppm while concentrate cobalt grade averaged 4,655ppm and the mass recovery was 14.5%.

Results add confidence that the target mass recovery to concentrate is about 20% and a target cobalt recovery from ore to concentrate of more than 90%.

The results will be used to optimise the process engineering design criteria and the produced concentrate will be used for thermal decomposition trials.

]]>
Mon, 04 Mar 2019 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215657/cobalt-blue-welcomes-commissioning-of-water-pipeline-to-broken-hill-215657.html
<![CDATA[News - Cobalt Blue progresses technical work on Thackaringa Cobalt Project ]]> https://www.proactiveinvestors.com.au/companies/news/215275/cobalt-blue-progresses-technical-work-on-thackaringa-cobalt-project-215275.html Cobalt Blue Holdings Ltd (ASX:COB) continues to receive positive results from work at the Thackaringa Cobalt Project near Broken Hill.

The company aims to improve the already positive outcomes from a pre-feasibility study (PFS) into the project near the South Australian-New South Wales border.

As such, positive results have today been released from large-scale metallurgical test work with cobalt-pyrite concentrates produced from ore samples taken from two previous drilling programs.

READ: Cobalt Blue indicates positive cobalt recoveries in Thackaringa metallurgical work

These results were in line with key outcomes obtained in the PFS and add confidence that the target mass recovery to concentrate is about 20% and a target cobalt recovery from ore to concentrate of more than 90%.

In this Q&A with Proactive Investors, Cobalt Blue’s CEO Joe Kaderavek outlines the company’s progress.

Can you update us on development progress?

Joe Kaderavek: Our technical work programs are progressing in two streams. Firstly, a drilling program aimed at increasing the resource and declaring a maiden measured resource has been completed and geological modelling is underway. We expect a project resource upgrade by end of March.

Secondly, large-scale metallurgical test work is underway. The concentrate circuit is now being tested using 45 tonnes of ore and furnace trials are progressing with 150 kilograms of concentrate. 

One of the technical breakthroughs achieved in the PFS was the recovery of in excess of 90% of the cobalt into a concentrate that only pulled approximately 20% of the mass from the ore. The overall process is shown below.

The ability to produce a concentrate significantly differentiates Thackaringa from laterite projects which generally need to treat ‘whole-of-ore’ through a high-pressure acid leaching plant. Our ability to handle large material volumes using cost-effective processing is key to our global competitiveness.

Can you update us on the dispute notices in progress?

Joe Kaderavek:

COB elected on February 8 to move four JV disputes to Expert Determination as permitted by the JV Agreement. Expert Determination is designed to provide a means of achieving a proper, expeditious and cost-effective hearing of the issues.

Can you provide an update on COB’s commercial/investment relationships?

Joe Kaderavek: In the near term the investment market is ‘risk off’, with significant noise preventing more rational investment. However, in this environment, COB believes that there are strong opportunities to expand its footprint.

COB is using its extensive geological and metallurgical knowledge to identify suitable long-term partners and assets.

Within Australia, opportunities exist for development of new ore bodies, and/or retreatment of historical process plant tailings.

Our sulphur test work is also generating new commercial opportunities. Ongoing trials yielding high purity sulphur are enabling COB to use existing commercial technologies to produce suitable forms of sulphur for market acceptance (see photo with recovered sulphur and typical commercial prills).

This has allowed COB to begin commercial negotiations concerning our future sulphur production.

Can you recap the COB commercial strategy?

Joe Kaderavek: Our strategy is focused on maximising the payable cobalt whilst participating in the strong growth of the lithium-ion battery market.

Cobalt Blue is aiming to be a vertically integrated mine and processing refinery, delivering battery-grade cobalt sulphate at a premium to the cobalt price.

READ: Cobalt Blue results support potential to improve and upgrade Thackaringa cobalt resource

The current cobalt market has sold off – what are you seeing?

Joe Kaderavek: Excess cobalt units are being produced by the Democratic Republic of Congo. These will take 12-18 months to work through, whilst pricing will likely remain in a trading range.

Longer term, we remain resilient in our market demand expectations and the fit of the Thackaringa cobalt project into the global supply chain.

]]>
Tue, 26 Feb 2019 15:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215275/cobalt-blue-progresses-technical-work-on-thackaringa-cobalt-project-215275.html
<![CDATA[News - Cobalt Blue indicates positive cobalt recoveries in Thackaringa metallurgical work ]]> https://www.proactiveinvestors.com.au/companies/news/215269/cobalt-blue-indicates-positive-cobalt-recoveries-in-thackaringa-metallurgical-work-215269.html Cobalt Blue Holdings Ltd (ASX:COB) has demonstrated positive results in large scale metallurgical test work at its Thackaringa Cobalt Project in New South Wales.

Cobalt-pyrite concentrates were produced from 45 tonnes of ore samples that originated from the previous two drilling programs.

The results were in line with key outcomes obtained in the pre-feasibility study and add confidence that the target mass recovery to concentrate is about 20% and a target cobalt recovery from ore to concentrate of more than 90%.

Key metallurgical work program summary

  READ: Cobalt Blue results support potential to improve and upgrade Thackaringa cobalt

The weighted average recovery of cobalt from the entire 44.5 tonnes of ore to cleaner gravity concentrate was 68%, from a weighted average head ore grade of 1,002 ppm.

Concentrate cobalt grade averaged 4,655 ppm and the mass recovery was 14.5%.

The results will be used by Cobalt Blue to optimise its process engineering design criteria and the produced concentrate will be used for thermal decomposition trials.

A follow-up program is expected later this year, with 40-50 tonnes of reverse circulation and diamond drill core samples stored in Broken Hill.

Summary of concentrate circuit mass and cobalt recoveries (flotation recoveries to be confirmed)

  READ: Cobalt Blue bolsters board through appointment of seasoned mining industry executive

Ore was screened at 1,180 microns, with oversize crushed to meet the upper particle size threshold.

Samples were then passed over commercial-sized gravity spirals working in a rougher-cleaner sequence, with the tails then forwarded to flotation cells.

To date, 45 tonnes of ore have been gravity separated and final work is ongoing for recovery of sulphides from the gravity circuit tails.

The gravity rougher concentrate was reprocessed through a gravity cleaner circuit and the rougher tails were classified prior to scavenger flotation, whereas the cleaner tails were forwarded directly to flotation.

Results from the flotation circuit are expected to be finalised next month.

]]>
Mon, 25 Feb 2019 20:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215269/cobalt-blue-indicates-positive-cobalt-recoveries-in-thackaringa-metallurgical-work-215269.html
<![CDATA[News - Cobalt Blue results support potential to improve and upgrade Thackaringa cobalt resource ]]> https://www.proactiveinvestors.com.au/companies/news/213937/cobalt-blue-results-support-potential-to-improve-and-upgrade-thackaringa-cobalt-resource-213937.html Cobalt Blue Holdings Ltd (ASX:COB) has received strong cobalt results from drilling at the Thackaringa joint venture project near Broken Hill which support the potential for improving the resource estimate and classification.

Infill drilling at the Pyrite Hill deposit has returned results of up to 60 metres at 1,691ppm cobalt, 17.2% iron and 17.8% sulphur from 57 metres.

These results provide encouragement for an improved resource classification at Pyrite Hill.

READ: Cobalt Blue’s Thackaringa drilling returns broad, high-grade cobalt results

Deep drilling results of up to 36 metres at 1,018ppm cobalt, 10.9% iron and 9.7% sulphur from 266 metres have confirmed continuity of mineralisation at depth at Pyrite Hill.

Pyrite Hill represents 36% of the existing 72 million tonne mineral resource and about 39% of the contained cobalt inventory of 61,500 tonnes.

This resource is based on three large tonnage cobalt-bearing pyrite deposits – Pyrite Hill, Railway and Big Hill – with Cobalt Blue endeavouring to upgrade resource classification and increase resource tonnage.

Existing resources and target areas at the Thackaringa joint venture project.

Numerous other prospects within the tenement package are at an early stage and under-explored.

READ: Cobalt Blue bolsters board through appointment of seasoned mining industry executive

Thackaringa Cobalt Project is about 25 kilometres west-southwest of Broken Hill and comprises four tenements for a total area of 63 square kilometres.

The project is subject to a joint venture agreement between Cobalt Blue and Broken Hill Prospecting Ltd (ASX:BPL).

An updated resource model is expected by the end of the current quarter.

Thackaringa mineral resource grade tonnage curve.

Infill drilling success

The infill drilling has been aimed at upgrading resources by enhancing geological confidence and data density.

It focused on the upper extent of the Pyrite Hill deposit which extends over 1.2 kilometres along strike and is drill tested as continuing to approximately 300 metres down dip.

Other strong results from the infill program are:

- 70 metres at 1,150ppm cobalt, 11.5% iron and 12.5% sulphur from 30 metres; – 92 metres at 1,253ppm cobalt, 12.1% iron and 12.5% sulphur from 45 metres - 90 metres at 1,086ppm cobalt, 10.3% iron and 10.7% sulphur from 52 metres; and - 62 metres at 1,271ppm cobalt, 13% iron and 12.7% sulphur from 42 metres.

Positive results have reinforced the validity of the existing geological model.

Mineralisation at depth

A potential down-dip extension of Pyrite Hill deposit was identified as a significant opportunity for resource growth during the preliminary feasibility study (PFS).

The recent campaign allowed for an initial phase of drilling to test this target with holes intersecting mineralisation around 180–280 metres below surface and mineralisation remains open at depth.

Apart from the 36-metre intersection, the deep drilling also returned 47 metres at 985ppm cobalt, 12.8% iron and 11.6% sulphur from 283 metres.

Pyrite Hill cross section showing strong continuity of mineralisation grade and thickness down-dip.

These results have confirmed strong continuity of mineralisation grade and thickness.

Sulphur a potential by-product

The resource update is expected to consider a revised cut-off grade potentially incorporating revenue streams from elemental sulphur, an economic by-product of the processing pathway defined in the PFS.

A revised cobalt equivalent cut-off grade has the potential to increase the reportable mineral resource where sulphur revenues are included.

Resource quantities at selected lower cobalt cut-off grades include:

- 400ppm cut-off: Potential for a mineral resource increase to 90 million tonnes with 69,000 tonnes of contained cobalt (+13%); and - 300ppm cut-off: Potential for a resource increase to 109 million tonnes with 76,000 tonnes of contained cobalt (+25%). READ: Cobalt Blue receives commitments to raise $1.687 million in share placement

Cobalt Blue is also assessing the potential inclusion of partially oxidised, near-surface material in the pending estimate where the recent drilling intersected variable zones of sulphide mineralisation throughout the oxidation profile.

Shallow intersections that support this concept include 24 metres at 673ppm cobalt, 9.8% iron and 7.1% sulphur from 6.9 metres; and 15.05 metres at 658ppm cobalt, 11.3% iron and 7.6% sulphur from 18.65 metres.

Enhancing positive PFS

While the drilling campaign is currently on hold, Cobalt Blue continues to advance other work programs.

These include further bulk test work, optimisation of power studies, tailings studies, project mining, environmental and engineering studies.

This work is being down to further enhance the positive PFS delivered for the project last year.

]]>
Tue, 05 Feb 2019 10:54:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213937/cobalt-blue-results-support-potential-to-improve-and-upgrade-thackaringa-cobalt-resource-213937.html
<![CDATA[News - Cobalt Blue bolsters board through appointment of seasoned mining industry executive ]]> https://www.proactiveinvestors.com.au/companies/news/211788/cobalt-blue-bolsters-board-through-appointment-of-seasoned-mining-industry-executive-211788.html Cobalt Blue Holdings Ltd (ASX:COB) has strengthened its board through the appointment of seasoned mining industry executive Rob McDonald as a non-executive director.

The appointment will take effect from January 1, 2019.

McDonald is an experienced board director, having held non-executive director roles, including chairman, with a number of listed mining companies, at different stages of evolution.

Strategy centred on Thackaringa project

Cobalt Blue has a vertically integrated cobalt supply strategy to service the rapidly growing electric vehicle sector and other new technologies utilising the highly sought-after tech-metal.

The strategy is centred on the world-class Thackaringa Cobalt Project near Broken Hill in far west NSW.


“Experience will prove invaluable”

Cobalt Blue’s chairman Rob Biancardi said: “We are delighted to welcome Rob McDonald as an independent, non-executive director.

“We are confident that his experience in the mining industry will prove invaluable in the success of advancing the Thackaringa project.”

McDonald has more than 40 years of broad experience in the international mining sector and is widely recognised for his knowledge of the industry, and in applied corporate finance.

To complement board’s capabilities

He began his career with Rio Tinto plc (LON:RIO) before assuming senior roles in investment banking and private equity.

Biancardi said his background in project development and optimisation, strategy and business development, transaction management and capital markets would serve to complement the existing board’s capabilities.

The chairman said that through a strategic advisory role with COB during 2018, Rob McDonald was already familiar with the opportunities and challenges facing the company.



Cobalt sulphate produced in tests of ore from the Thackaringa project.

READ: Cobalt Blue receives commitments to raise $1.687 million in share placement

Cobalt Blue has received firm commitments from investors to raise $1.687 million in a share placement.

Funds will be used by the pure-play cobalt company to help fund the 5,000-metre drilling program which is underway at Thackaringa.

Under the placement managed by lead broker Blue Ocean Equities Pty Limited, 8.435 million new fully paid ordinary shares will be issued at a price of 20 cents per share.

READ: Cobalt Blue’s Thackaringa drilling returns broad, high-grade cobalt results

Initial results from the drilling have reinforced the potential for resource growth and substantial mine life.

Results from the first seven infill holes for 766 metres have been positive, confirming substantial thicknesses of cobalt mineralisation consistent with the existing geological model.

They include 68 metres at 1218ppm cobalt, 13.4% iron and 13.4% sulphur from 116 metres, and 52 metres at 1042ppm cobalt, 11.1% iron and 11.2% sulphur from 93 metres.

Largest single drill campaign

Initial drilling is focused on the Pyrite Hill deposit, which represents 36% of the existing 72 million tonne mineral resource and about 39% of the contained cobalt inventory of 61,500 tonnes.

On completion of drilling at Pyrite Hill, all rigs will be deployed to the Railway deposit to complete the program.

The planned total of more than 15,000 metres is the largest single drill campaign undertaken at the project.

A versatile drilling fleet comprising two diamond and two RC drill rigs has been deployed to service program objectives.

]]>
Mon, 31 Dec 2018 07:47:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211788/cobalt-blue-bolsters-board-through-appointment-of-seasoned-mining-industry-executive-211788.html
<![CDATA[News - Cobalt Blue receives commitments to raise $1.687 million in share placement ]]> https://www.proactiveinvestors.com.au/companies/news/210731/cobalt-blue-receives-commitments-to-raise-1687-million-in-share-placement-210731.html Cobalt Blue Holdings Ltd (ASX:COB) will use $1.687 million from a share placement to help fund the 15,000-metre drilling program which is underway at the Thackaringa Cobalt Project near Broken Hill.

The pure-play cobalt company has received firm commitments from investors for the share placement.

Shares to be issued at a price of 20 cents

Under the placement managed by lead broker Blue Ocean Equities Pty Limited, 8.435 million new fully paid ordinary shares will be issued at a price of 20 cents per share.

Cobalt Blue’s shares have traded at up to 23.5 cents today, up almost 5%.

New shares are being placed to new and existing shareholders and will be issued under the company’s available 15% capacity under ASX Listing Rule 7.1.

READ: Cobalt Blue’s Thackaringa drilling returns broad, high-grade cobalt results

Earlier this week Cobalt Blue received initial results from the Thackaringa drilling program, which is the largest single drill campaign undertaken at the project.

Results from the first seven infill holes have confirmed substantial thicknesses of cobalt mineralisation consistent with the existing geological model.

They include 68 metres at 1218ppm cobalt, 13.4% iron and 13.4% sulphur from 116 metres, and 52 metres at 1042ppm cobalt, 11.1% iron and 11.2% sulphur from 93 metres.

Cobalt sulphate produced in tests on ore from the Thackaringa project.

READ: Cobalt Blue drilling targets resource upgrade and growth at Thackaringa

These results reinforce the potential for resource growth and substantial mine life.

As at November 30, 5,788 metres had been completed, including 1,353 metres of diamond drilling and 4,435 metres of reverse circulation drilling.

Initial drilling is focused on the Pyrite Hill deposit, which represents 36% of the existing 72 million tonne mineral resource and about 39% of the contained cobalt inventory of 61,500 tonnes.

The project is about 25 kilometres west-southwest of Broken Hill and comprises four tenements for a total area of 63 square kilometres.

READ: Cobalt Blue Holdings serves joint venture dilution notice

The project is subject to a joint venture agreement between Cobalt Blue and Broken Hill Prospecting Ltd (ASX:BPL).

Water availability confirmed

Cobalt Blue this week also confirmed the annual availability from Essential Water of 1.2 gigalitres (GL) of water without any upgrade to the utility’s trunk main at a metered take-off point on the western outskirts of Broken Hill.

An additional 0.3 GL per annum is available if Cobalt Blue provides a capital contribution to increase the trunk main capacity.

Essential Water said that the water supply would be from a more reliable source on the Murray River at Wentworth via a newly constructed pipeline to Broken Hill.

]]>
Fri, 07 Dec 2018 12:51:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210731/cobalt-blue-receives-commitments-to-raise-1687-million-in-share-placement-210731.html
<![CDATA[News - Cobalt Blue in trading halt with material fundraising news pending ]]> https://www.proactiveinvestors.com.au/companies/news/210617/cobalt-blue-in-trading-halt-with-material-fundraising-news-pending-210617.html Cobalt Blue Holdings Ltd (ASX:COB) has been granted a trading halt by the ASX with news concerning the finalisation of a material fundraising pending.

The halt will remain in place until the start of normal trading on Monday, December 10, 2018, or when the announcement is released to the market, whichever occurs earliest.

COB’s shares were 22.5 cents at the close of trading on Wednesday.

READ: Cobalt Blue to present cobalt strategy at Renewable Metals Connect in London

The company intends to play its part in a cleaner energy future with its vertically integrated supply strategy focused on the Thackaringa Cobalt Project near the mining centre of Broken Hill.

READ: Cobalt Blue’s Thackaringa drilling returns broad, high-grade cobalt results

Earlier this week initial results were received from extensive drilling at the joint venture project which reinforce the potential for resource growth and substantial mine life.

These results confirm substantial thicknesses of cobalt mineralisation consistent with the existing geological model.

They include 68 metres at 1218ppm cobalt, 13.4% iron and 13.4% sulphur from 116 metres, and 52 metres at 1042ppm cobalt, 11.1% iron and 11.2% sulphur from 93 metres.

READ: Cobalt Blue Holdings serves joint venture dilution notice

As at November 30, 5,788 metres had been completed, including 1,353 metres of diamond drilling and 4,435 metres of reverse circulation (RC) drilling.

The planned total of more than 15,000 metres is the largest single drill campaign undertaken at the project, which COB holds in JV with Broken Hill Prospecting Ltd (ASX:BPL).

]]>
Thu, 06 Dec 2018 10:33:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210617/cobalt-blue-in-trading-halt-with-material-fundraising-news-pending-210617.html
<![CDATA[News - Cobalt Blue’s Thackaringa drilling returns broad, high-grade cobalt results ]]> https://www.proactiveinvestors.com.au/companies/news/210538/cobalt-blues-thackaringa-drilling-returns-broad-high-grade-cobalt-results-210538.html Cobalt Blue Holdings Ltd’s (ASX:COB) initial results from extensive drilling at the Thackaringa Cobalt Project near Broken Hill reinforce the potential for resource growth and substantial mine life.

Results from the first seven infill holes for 766 metres have been positive, confirming substantial thicknesses of cobalt mineralisation consistent with the existing geological model.

They include 68 metres at 1218ppm cobalt, 13.4% iron and 13.4% sulphur from 116 metres, and 52 metres at 1042ppm cobalt, 11.1% iron and 11.2% sulphur from 93 metres.

READ: Cobalt Blue drilling targets resource upgrade and growth at Thackaringa

As at November 30, 5,788 metres had been completed, including 1,353 metres of diamond drilling and 4,435 metres of reverse circulation (RC) drilling.

The planned total of more than 15,000 metres is the largest single drill campaign undertaken at the project.

Initial drilling is focused on the Pyrite Hill deposit, which represents 36% of the existing 72 million tonne mineral resource and about 39% of the contained cobalt inventory of 61,500 tonnes.

READ: Cobalt Blue chairman buys stock valued at more than $30,000 on-market

Cobalt Blue’s chairman Rob Biancardi said: “We are pleased by recommencement of drilling at Thackaringa.

“Assays received to date have affirmed continuity of high-grade cobalt mineralisation at the Pyrite Hill deposit with further potential for resource growth identified through down-dip extension.”

Other strong results are 56 metres at 824ppm cobalt, 11.1% iron and 9.4% sulphur from 146 metres, and 91 metres at 826ppm cobalt, 12.8% iron and 10.2% sulphur from 67 metres.

Visible mineralisation in drill core from a diamond hole at Pyrite Hill deposit.

READ: Cobalt Blue Holdings serves joint venture dilution notice

The Thackaringa Cobalt Project is about 25 kilometres west-southwest of the mining centre of Broken Hill and comprises four tenements for a total area of 63 square kilometres.

The project is subject to a joint venture agreement between COB and Broken Hill Prospecting Ltd (ASX:BPL).

The existing resource estimate is based on three large tonnage cobalt-bearing pyrite deposits – Pyrite Hill, Railway and Big Hill.

Priority exploration targets identified from heliborne electromagnetic survey.

Two diamond and two RC rigs deployed

A versatile drilling fleet comprising two diamond and two RC drill rigs has been deployed to service program objectives.

The initial component of the drilling campaign is focused on completing infill drilling to provide greater confidence in the resource classification and to better define the oxidation layers which cap fresh sulphide mineralisation.

Diamond drilling assays received reflect intersections from shallow drill holes directly targeting the oxidation zone.

READ: Cobalt Blue will use review to improve technical robustness of world-class cobalt project

The intersections comprise variable zones of sulphide mineralisation intercalated with localised oxidation which is characterised by partial sulphide/cobalt depletion.

This material was not included in the March 2018 mineral resource estimate.

Core samples from the current campaign will be retained for metallurgical test work to determine if cobalt can be recovered from this type of oxidised material.

High-grade pyrite mineralisation intersected during the drilling campaign.

On completion of drilling at Pyrite Hill, all rigs will be deployed to the Railway deposit for completion of the planned program.

Project water supply confirmed

Cobalt Blue has also confirmed the annual availability from Essential Water of 1.2 gigalitres (GL) of water without any upgrade to the utility’s trunk main at a metered take-off point on the western outskirts of Broken Hill.

An additional 0.3 GL per annum is available if COB provides a capital contribution to increase the trunk main capacity.

Essential Water notes that the water supply will soon be from a more reliable source on the Murray River at Wentworth via a newly constructed pipeline.

The process plant water balance developed in the project’s pre-feasibility study identified a water supply requirement of 1.22 GL per annum, which included a 5% allowance for evaporation.

With a 20% contingency, the processing water supply requirement is 1.5 GL per annum.

Meets processing demands

COB believes that securing a reliable source of high-quality water that meets the processing requirements at the Thackaringa Cobalt Project is a significant milestone.

The company’s chief executive officer Joe Kaderavek said: “COB is excited to secure a reliable source of water that meets the processing demands of the project.

“We look forward to working with Essential Water to develop the provision of water to the site.”

]]>
Wed, 05 Dec 2018 14:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210538/cobalt-blues-thackaringa-drilling-returns-broad-high-grade-cobalt-results-210538.html
<![CDATA[News - Cobalt Blue Holdings serves joint venture dilution notice ]]> https://www.proactiveinvestors.com.au/companies/news/210433/cobalt-blue-holdings-serves-joint-venture-dilution-notice-210433.html Cobalt Blue Holdings Ltd (ASX:COB) believes it has advanced to a 93.68% beneficial interest in the Thackaringa Joint Venture (TJV), which holds the Thackaringa Cobalt Project in far west New South Wales.

In a statement today, the pure-play cobalt company announced that a non-payment of Called Sums by JV partner Broken Hill Prospecting Ltd (ASX:BPL) had diluted their equity interest down to 6.32%.

“Committed to providing clarity”

COB chairman Rob Biancardi said: “COB is committed to providing clarity to the market, whilst protecting the interests of the project and our shareholders remains very important to us.

“Today’s announcements should remove doubt from investor’s minds.”

READ: Cobalt Blue chairman buys stock valued at more than $30,000 on-market

On Monday, at the request of the ASX, COB outlined the steps it had undertaken to reach this point.

This release included a full copy of the Joint Venture Agreement (JVA), which COB believes will allow investors much greater clarity on the current situation.

In today’s statement COB said it “is committed to protecting the rights of its shareholders and focused upon near-term exploration activities that are a fundamental part of its joint venture with BPL”.

READ: Cobalt Blue drilling targets resource upgrade and growth at Thackaringa

The company estimates that once the drilling campaign expenditure for November and December 2018 has been incurred, which has been approved by the TJV, BPL’s equity interest will be below 5%.

This is expected to occur by January 2019.

It said that the JVA had a minimum interest level of 5%, below which a joint venturer was deemed to have withdrawn from the JV.

READ: Cobalt Blue CEO steps up and buys stock on-market

According to the statement, “COB has served notice to BPL that it wishes to pursue its rights.”

Cobalt Blue is an exploration and project development company focused on green energy technology and strategic development to upgrade its mineral resource at the Thackaringa project from inferred to indicated status.

READ: Cobalt Blue will use review to improve technical robustness of world-class cobalt project

The company believes there is potential to extend the resources at the Pyrite Hill, Big Hill and Railway deposits as well as other prospects.

Numerous other prospects within the tenement package are at an early stage and under-explored.

]]>
Tue, 04 Dec 2018 12:49:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210433/cobalt-blue-holdings-serves-joint-venture-dilution-notice-210433.html
<![CDATA[News - Cobalt Blue chairman buys stock valued at more than $30,000 on-market ]]> https://www.proactiveinvestors.com.au/companies/news/209879/cobalt-blue-chairman-buys-stock-valued-at-more-than-30000-on-market-209879.html Cobalt Blue Holdings Ltd’s (ASX:COB) chairman Robert Biancardi has shown his faith in the company’s integrated cobalt strategy through on-market share purchases.

The chairman recently purchased 130,000 shares in on-market trades with a total value of almost $30,000.

READ: Cobalt Blue CEO steps up and buys stock on-market

His purchases follow recent on-market acquisitions of shares by CEO Joe Kaderavek and options by independent director Hugh Keller.

Biancardi’s holding of un-escrowed shares now totals 405,000 and he also holds more than 2.952 million escrowed shares along with more than 2.306 million escrowed options, all in indirect interests.

Kaderavek recently purchased more than $20,000 worth of shares through on-market trades, taking his total holding to in excess of 2.7 million shares.

READ: Cobalt Blue’s Hugh Keller buys options on-market

Keller topped up his holding in the pure-play cobalt-focused company by acquiring more than 88,000 options with a 25-cent exercise price expiring May 2, 2020.

His total holding in the company stands at 755,000 shares and 1.683 million options.

READ: Cobalt Blue to present cobalt strategy at Renewable Metals Connect in London

Last week, Kaderavek presented and hosted one-on-one meetings with potential investors and financiers at the Renewable Metals Connect conference in London.

This event brought energy metal companies and institutional investors together to discuss, network and create business relationships.

]]>
Mon, 26 Nov 2018 16:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209879/cobalt-blue-chairman-buys-stock-valued-at-more-than-30000-on-market-209879.html
<![CDATA[News - Cobalt Blue to present cobalt strategy at Renewable Metals Connect in London ]]> https://www.proactiveinvestors.com.au/companies/news/209625/cobalt-blue-to-present-cobalt-strategy-at-renewable-metals-connect-in-london-209625.html Cobalt Blue Holdings Ltd (ASX:COB) will present its integrated cobalt supply strategy at the Renewable Metals Connect conference in London on Thursday, November 22.

The company’s CEO Joe Kaderavek will speak at the conference and will host one-on-one meetings with potential investors and financiers.

Renewable Metals Connect will be held at The Grange City Hotel in London and is organised by Solar Media.

READ: Cobalt Blue will use review to improve technical robustness of world-class cobalt project

The event will bring energy metal companies and institutional investors together to discuss, network and create business relationships.

There was US$76.7 billion invested in renewable energy in the June quarter of 2018 alone and renewables make up around 17% of power consumption globally and this is growing.

Energy transition

Solar, storage, wind and electric vehicles are at the forefront of the transition to low carbon power generation and are reliant on a few metals - lithium, cobalt, nickel, manganese, copper and rare earths.

With a supply chain scattered across the globe and pockets in politically unstable countries, some industry insiders forecast shortages in key metals needed to fulfil legally binding commitments made by 170 countries to reduce emissions.

READ: Cobalt Blue’s Hugh Keller buys options on-market

Cobalt Blue intends to play its part in a cleaner energy future with its vertically integrated supply strategy focused on the Thackaringa Cobalt Project near the mining centre of Broken Hill.

Kaderavek will outline the pure-play cobalt focused company’s strategy during his presentation at Renewable Metals Connect.

While efforts are focused on advancing the project, should it be appropriate, other yet to be identified prospects may expand the overall cobalt asset portfolio.

READ: Cobalt Blue CEO steps up and buys stock on-market

The company is also seeking to invest in energy storage technologies that may complement the production of cobalt in commercialising battery and associated energy storage technologies.

Of particular interest is the life cycle of rechargeable batteries from ‘cradle’ to ‘grave’ and how such technologies can be used to grow the green energy industry in Australia and around the world.

Cobalt Blue holds a 70% interest in a joint venture with Broken Hill Prospecting Limited (ASX:BPL) (30%) to develop the Thackaringa Cobalt Project.

]]>
Wed, 21 Nov 2018 10:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209625/cobalt-blue-to-present-cobalt-strategy-at-renewable-metals-connect-in-london-209625.html
<![CDATA[News - Cobalt Blue’s Hugh Keller buys options on-market ]]> https://www.proactiveinvestors.com.au/companies/news/208775/cobalt-blues-hugh-keller-buys-options-on-market-208775.html Cobalt Blue Holdings Ltd (ASX:COB) has had independent director Hugh Keller purchase 88,205 options in the company with a 25 cent exercise price expiring 2 May 2020.

Keller paid $6,174 for the options representing a purchase price of 7 cents each.

The purchase increases Keller’s total holding in the company to 755,000 shares and 1.683 million options.

READ: Cobalt Blue CEO steps up and buys stock on-market

Keller’s purchase follows Cobalt Blue’s CEO Joe Kaderavek purchase of over $20,000 worth of shares through on-market trades last week.

Last week, Cobalt Blue also revealed that it had commenced the largest single drilling campaign to date at its flagship Thackaringa Cobalt Project near Broken Hill.

More than 15,000 metres are to be drilled over the coming six months as part of a feasibility study with the primary aims of upgrading and growing cobalt resources.

]]>
Thu, 08 Nov 2018 08:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208775/cobalt-blues-hugh-keller-buys-options-on-market-208775.html
<![CDATA[News - Cobalt Blue CEO steps up and buys stock on-market ]]> https://www.proactiveinvestors.com.au/companies/news/208374/cobalt-blue-ceo-steps-up-and-buys-stock-on-market-208374.html Cobalt Blue Holdings Ltd (ASX:COB) has had its CEO Joe Kaderavek purchase over $20,000 worth of shares through on-market trades.

Kaderavek purchased the shares in his super fund taking his total holding to over 2.7 million shares.

Notably, Kaderavek is a chartered financial analyst (CFA), former resources portfolio manager and Deutsche Bank lead analyst.

READ: Cobalt Blue drilling targets resource upgrade and growth at Thackaringa

Yesterday, Cobalt Blue revealed that it had commenced the largest single drilling campaign to date at its flagship Thackaringa Cobalt Project near Broken Hill.

More than 15,000 metres will be drilled over the coming six months as part of a feasibility study with the primary aims of upgrading and growing cobalt resources.

]]>
Fri, 02 Nov 2018 13:21:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208374/cobalt-blue-ceo-steps-up-and-buys-stock-on-market-208374.html
<![CDATA[News - Cobalt Blue drilling targets resource upgrade and growth at Thackaringa ]]> https://www.proactiveinvestors.com.au/companies/news/208282/cobalt-blue-drilling-targets-resource-upgrade-and-growth-at-thackaringa-208282.html Cobalt Blue Holdings Ltd (ASX:COB) has the drill bit spinning in the largest single drilling campaign to date at the Thackaringa Cobalt Project near Broken Hill.

More than 15,000 metres will be drilled over the coming six months as part of a feasibility study with the primary aims of upgrading and growing cobalt resources.

Blue-sky drilling included

This will be done through infill drilling as well as exploration along the margins of existing mineralised bodies and through blue-sky exploration to follow-up previously identified geophysical anomalies.

Geotechnical, hydrogeological and sterilisation drilling will help confirm the location of infrastructure and site layout while drilling will also be used to identify oxide and/or transition layers.

Three Thackaringa deposits have resource estimates – Pyrite Hill with 26 million tonnes at 934ppm cobalt, Railway with 37 million tonnes at 842ppm and Big Hill with 10 million tonnes at 697ppm.

Drilling at Pyrite Hill

The campaign is underway with two diamond and two reverse circulation (RC) drill rigs working on site, having completed 755 metres at Pyrite Hill.

High-grade pyrite mineralisation intersected during the current drilling campaign.

Between the second half of 2016 and the first half of 2018, COB drilled 20,445 metres consisting of 38 diamond holes, 93 RC holes and three RC holes with diamond tails over three campaigns.

COB aims to define a component of measured mineral resources and this will require infill drilling at around 40-metre spacing to improve geological confidence and data density.

READ: Cobalt Blue will use review to improve technical robustness of world-class cobalt project

During the mining study, measured resources will be evaluated for conversion to proven ore reserves. Typically, the target quantity for proven reserves would be sufficient to provide ore for the initial three to five-year period of proposed production.

Targeting resource upgrades

Additional infill drilling will target improved classification of inferred to indicated resources, which would be evaluated for conversion into probable ore reserves during the mining study.

The company also aims to increase inferred resources by targeting down-dip extensions at the Pyrite Hill deposit and shallow strike extensions at the Big Hill and Railway deposits.

Near-surface holes will be drilled to better define the oxide and/or transition oxide-sulphide layers which represent shallow overburden of 10 to 25 metres on top of the fresh sulphide ore.

Pyrite Hill deposit cross section showing strong continuity of mineralisation at depth.

Work on oxidation profile

In the pre-feasibility study (PFS) and scoping study, oxidised and partially oxidised material was excluded from the reported mineral resources and subsequently proposed mining and processing studies.

The drilling campaign will identify if any cobalt is present through the oxidation profile, and if so, related metallurgical studies will then be undertaken.

In September 2017, the 63 square kilometre project area was surveyed using a heliborne electromagnetic survey (VTEM-Max) at a nominal 100-metre line spacing.

Several strong EM responses outside the existing resources at Pyrite Hill, Railway and Big Hill were identified and cross-checked with coincident geophysical and geochemical anomalism.

In the current drilling campaign, COB will undertake some preliminary drilling at these targets and further downhole geophysics as warranted.

COB’s staged campaign is initially focused on Pyrite Hill and infill drilling will target conversion of the indicated component, which represents 85% of the resource, to a measured classification.

READ: Cobalt Blue to investigate cobalt recovery potential at CuDeco’s Rocklands Project

Opportunities for resource growth will target down-dip extensions where the deposit remains open at depth below 50mRL, which is around 250 metres below the surface.

It is anticipated the rigs will be deployed to the Railway deposit in late November with the program sharing similar objectives to that of the Pyrite Hill drilling.

Mineral resource growth for the Thackaringa deposits including Pyrite Hill, Big Hill and Railway Hill.

Water negotiations

In separate negotiations, Essential Water, a water retailer and distributor for the Broken Hill district, has indicated that 1.2 gigalitres per annum of raw water is available for the project.

A further 0.3 gigalitres per annum could also be supplied with a minor capital upgrade to the utility’s trunk main supply network.

The estimated water requirements specified in the COB’s PFS was 1.3 gigalitres per annum.

This does not represent a supply guarantee, but rather a milestone along the path to a formal service and supply agreement which will be negotiated when the project proceeds to commercial implementation status.

]]>
Thu, 01 Nov 2018 14:02:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208282/cobalt-blue-drilling-targets-resource-upgrade-and-growth-at-thackaringa-208282.html
<![CDATA[News - Cobalt Blue will use review to improve technical robustness of world-class cobalt project ]]> https://www.proactiveinvestors.com.au/companies/news/205067/cobalt-blue-will-use-review-to-improve-technical-robustness-of-world-class-cobalt-project-205067.html Cobalt Blue Holdings Ltd (ASX:COB) will use the recommendations of a review by global engineering firm Wood PLC to improve the technical robustness of the Thackaringa Cobalt Project near Broken Hill.

This work will examine pre-planning, preparation and compilation of the cobalt sulphate bankable feasibility study (BFS).

These are important prerequisites for accessing and securing lower cost project financing.

READ: Cobalt Blue to get drill spinning targeting cobalt resource growth and upgrade

Wood PLC, formerly AMEC Foster Wheeler, was engaged by COB to provide a gap analysis review of the recently completed pre-feasibility study (PFS).

The aim was to help shape the BFS scope and ensure critical study areas are being addressed with appropriate resources.

COB’s chief executive officer Joe Kaderavek said, “I am pleased to report that this industry best practice and independent review of the PFS has delivered a gap analysis with recommendations which will be used to improve the technical quality of our BFS studies.”

READ: Cobalt Blue Holdings delivers ‘comprehensive PFS that showcases Thackaringa Cobalt Project’

The review identified technical areas where further work is required prior to commencing the BFS engineering study component and spanned across most of the technical fields embedded in the PFS.

Key areas of the review included:

- Geology. - Mining. - Process development and test work. - Engineering. - Hydrogeology. - Environmental/approvals/permits/closure. - Infrastructure. - Capex and Opex estimates. - Project execution. - Study management/risk/marketing/owners costs. - HR/training/maintenance/HSEQ.

Battery-ready cobalt sulphate produced from the Thackaringa project.

“Thinking outside the box ideas”

Kaderavek said, “The Wood review has been extremely useful for the BFS team, providing expert independent recommendations and assessments, some ‘thinking outside the box’ ideas, and creating clear value for the project.”

Wood confirmed that a careful and detailed approach to test work will provide a better understanding of process and optimisation outcomes.

The consultants supported the idea that test work should be conducted on a bulk scale.

READ: Cobalt Blue optimising the Thackaringa Cobalt Project

Wood also indicated that it is quite common in the minerals industry, particularly where complex operations are concerned, for there to be an extended development and test work phase prior to the BFS.

Areas were identified in which it recommended this additional pre-BFS work and studies be undertaken.

Wood concluded that the pre-BFS work, completion of flowsheet development, additional bulk scale test work, demonstration operations and BFS will take about 24 months.

Focused on Thackaringa timeline

“As COB is committed to using an industry best practice approach to deliver the world-class project, the Wood review will be used to improve the technical robustness of the pre-planning, preparation and compilation of the cobalt sulphate BFS,” Kaderavek said.

“Whilst COB will make full use of the review and recommendations, including its conclusions, it will remain focused on a timeline that allows a final investment decision by mid-2020,” the CEO added.

]]>
Tue, 18 Sep 2018 09:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205067/cobalt-blue-will-use-review-to-improve-technical-robustness-of-world-class-cobalt-project-205067.html
<![CDATA[News - Cobalt Blue to get drill spinning targeting cobalt resource growth and upgrade ]]> https://www.proactiveinvestors.com.au/companies/news/204786/cobalt-blue-to-get-drill-spinning-targeting-cobalt-resource-growth-and-upgrade-204786.html Cobalt Blue Holdings Ltd (ASX:COB) is set to start the largest single drilling campaign at its Thackaringa Cobalt Project in far west NSW targeting resource growth and improved resource classification.

More than 15,000 metres will be drilled over the next six months with an updated mineral resource statement due by the end of the June quarter of 2019.

This work forms part of a bankable feasibility study (BFS) at the project close to the mining centre of Broken Hill.

READ: Cobalt Blue sees growing appetite for key battery metal during Korean visit

The company, which is the only ASX-listed pure cobalt player, is developing an integrated cobalt supply strategy based on the Thackaringa project.

Project optimisation studies are also being carried out for the BFS, which follows completion of a pre-feasibility study (PFS).

READ: Cobalt Blue Holdings delivers ‘comprehensive PFS that showcases Thackaringa Cobalt Project’

The drilling campaign has five broad aims:

- Improved resource classification – defining measured resources; - Growth of resources – exploration along margins of existing mineralised bodies; - Confirmation of the location of infrastructure and site layout – geotechnical and hydrogeological drilling for project infrastructure and process plant civil works; - Overburden definition – identification of oxide and/or transition layer(s); and - Blue-sky exploration – follow-up previously identified geophysical anomalies. READ: Cobalt Blue Holdings’ Board confident of funding next stages of world-class cobalt project

Between the second half of 2016 and the first half of 2018, COB drilled 20,445 metres in 38 diamond drill holes, 93 RC holes and 3 RC holes with diamond tails over three campaigns.

Mineral resource growth for Thackaringa deposits including Pyrite Hill, Big Hill and Railway Hill.

This has resulted in a 118% increase in total mineral resource tonnes and a 124% increase in contained cobalt.

The resource stands at 72 million tonnes at 852ppm cobalt, 10% iron, 9.3% sulphur and 17% pyrite for 51,500 tonnes of contained cobalt at a 500ppm cobalt cut-off.

Improved resource classification

Based on PFS results, COB aims to define a component of measured mineral resources, which will require infill drilling at around 40-metre spacing to improve geological confidence and data density.

This drilling will also target improved classification of inferred to indicated mineral resources.

During the BFS, indicated resources will be evaluated for conversion into probable ore reserves while measured resources will be evaluated for conversion to proven reserves.

Typically, the target quantity for proven reserves would be sufficient to fulfil the initial three to five year period of the proposed project production, as defined in the BFS.

Mineral resource growth

COB also aims to increase inferred resources by targeting down-dip extensions at the Pyrite Hill deposit and shallow strike extensions at the Big Hill and Railway deposits.

Priority exploration targets identified after a heliborne electromagnetic survey (VTEM-Max).

Growth of the overall resource is a key component of achieving COB’s target of a mine life of 20-plus years at Thackaringa.

Future additional drilling campaigns are expected to be undertaken following completion of the current campaign.

Oxidation boundary definition

Near-surface holes will also be drilled to better define the oxide and/or transition oxide-sulphide layers which represent shallow overburden of 10–25 metres on top of the fresh sulphide ore.

Oxidised and partially oxidised material has been excluded from the resources and subsequent proposed mining and processing studies.

Drilling will identify if any cobalt is present through the oxidation profile, and if so, related metallurgical studies will then be undertaken.

Infrastructure and site layout

To support continuing technical studies commissioned for the BFS, COB will complete additional drilling for geotechnical, hydrological and hydrogeological assessment related to infrastructure, mining and process plant planning.

Blue-sky exploration

In September 2017, the 63 square kilometre project area was surveyed using a heliborne electromagnetic (EM) survey (VTEM-Max) at a nominal 100-metre line spacing.

Several strong EM responses outside the existing Pyrite Hill, Railway and Big Hill resources were recorded and have been cross-checked with coincident geophysical and geochemical anomalism.

In the upcoming campaign, COB will undertake some preliminary drilling at these targets.

Previous drilling at Thackaringa.

READ: Cobalt Blue optimising the Thackaringa Cobalt Project

There are four optimisation studies for investigation in the BFS:

• Mine life extension: Substantial potential exists to extend project life targeting inferred inventories from the known resources and from other sources beyond Thackaringa.

The 15,000-metre drilling campaign will culminate in a new resource model.

CEO Joe Kaderavek said a 20-year mine life was a vastly superior investment to the current 13-year study.

• Metal recovery optimisation: COB adopted a conservative 85.5% cobalt recovery rate for the PFS (versus an already achieved 88% recovery).

Larger scale testing will be conducted during the BFS, incorporating recycle streams, for which a 90% recovery rate is being targeted.

"This again substantially improves project economics. We will be releasing these results by the end of Q2 2019," Kaderavek said.

• Optimisation of power consumption/pricing: 22% of the site cash costs were related to electrical power.

Strong opportunities exist for minimising energy consumption as well as distributed energy generation (solar photovoltaic) to substantially reduce these costs.

These results will be released by the end of Q2 2019

• Process plant tailings: A tailings optimisation study will be undertaken with results to be delivered by end of Q4 2018.

Independent PFS review

In parallel with these studies, Wood PLC (formerly AMEC Foster Wheeler), a global engineering firm, has been engaged to provide a gap analysis review of the PFS.

This review, which is expected to be finalised shortly, will help shape the BFS scope and ensure that critical study areas are being addressed with appropriate resources.

Farm-in with Broken Hill Prospecting

COB is undertaking exploration and development programs on the Thackaringa project as part of a farm-in joint venture agreement entered into with Broken Hill Prospecting Ltd (ASX:BPL).

Completion of the PFS has seen COB reach a 70% beneficial interest and will reach 100% on achievement of further milestones.

Until the farm-in obligations have been satisfied, COB’s interest in the tenements is beneficial.

When this is achieved it will become the registered holder of the Thackaringa project tenements. BPL remains the registered holder of the tenements until the farm-in is complete.

]]>
Thu, 13 Sep 2018 13:02:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204786/cobalt-blue-to-get-drill-spinning-targeting-cobalt-resource-growth-and-upgrade-204786.html
<![CDATA[News - Cobalt Blue to investigate cobalt recovery potential at CuDeco’s Rocklands Project ]]> https://www.proactiveinvestors.com.au/companies/news/204587/cobalt-blue-to-investigate-cobalt-recovery-potential-at-cudecos-rocklands-project-204587.html Cobalt Blue Holdings Ltd (ASX:COB) and CuDeco Ltd (ASX:CDU) have entered into a memorandum of understanding (MOU) to investigate the cobalt recovery potential at CuDeco’s Rocklands Project in Queensland.

The Rocklands Project currently produces about 1.4 tonnes/day (100% contained cobalt) cobalt-pyrite flotation circuit tailings.

Cobalt Blue will undertake due diligence studies to evaluate the applicability of its minerals processing technology to the cobalt-pyrite concentrate from the Rocklands Mine.

Further potential cooperation involving marketing/processing contracts

CuDeco is exploring opportunities to monetise the cobalt-pyrite concentrate produced from the flotation concentrator circuit and will provide Cobalt Blue a representative 5–15 kilograms cobalt-pyrite sample.

Cobalt Blue will perform laboratory test work using its proprietary technology, with the results due within 12 weeks of receiving the sample.

After reviewing the test results, Cobalt Blue and CuDeco will discuss potential cooperation involving marketing/processing contracts or joint venture development of cobalt products.

CuDeco chairman Peter Hutchison said that should the Cobalt Blue technology prove suitable for the recovery of cobalt from the Rocklands ore, then this opens up a large potential opportunity CuDeco.

READ: Cobalt Blue optimising the Thackaringa Cobalt Project

Cobalt Blue’s positive metallurgical work to date has identified a processing path that is demonstrating strong recoveries of cobalt from the cobalt-pyrite resources at its Thackaringa Cobalt Project in New South Wales.

]]>
Tue, 11 Sep 2018 14:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204587/cobalt-blue-to-investigate-cobalt-recovery-potential-at-cudecos-rocklands-project-204587.html
<![CDATA[News - Cobalt Blue optimising the Thackaringa Cobalt Project ]]> https://www.proactiveinvestors.com.au/companies/news/203926/cobalt-blue-optimising-the-thackaringa-cobalt-project-203926.html Cobalt Blue Holdings Ltd (ASX:COB) is progressing optimisation studies as part of its plan to commercialise the Thackaringa Cobalt Project which hosts an initial ore reserve of 46.3 million tonnes at 819 ppm cobalt.

These studies form part of a BFS which is following up a recent Pre-Feasibility Study (PFS) which justifies proceeding towards commercial development of the project near Broken Hill.

READ: Cobalt Blue sees growing appetite for key battery metal during Korean visit

The company, which is the only ASX-listed pure cobalt player, is developing an integrated cobalt supply strategy based on the Thackaringa project.

Cobalt Blue’s CEO Joe Kaderavek comments to Proactive Investors on the company’s progress with the project.

Can you update us on Thackaringa’s progress?

Joe Kaderavek: COB recently delivered a robust PFS for the Thackaringa Cobalt Project. The PFS displayed a world-class integrated mine-refinery delivering a battery-ready cobalt sulphate.

The project has outstanding low capital intensity with cash costs supporting operation through lows of the cobalt cycle. Further, as part of the PFS, COB delivered a minimum 20% cobalt sulphate product which will form the basis for future commercial agreements.

Describe the optimisation studies that are underway.

Joe Kaderavek: There are four optimisation studies for investigation in the BFS:

• Mine life extension: Substantial potential exists to extend project life targeting inferred inventories from the known resources and from other sources beyond Thackaringa.

A significant drilling campaign will begin shortly with results to be progressively delivered culminating in a new resource model by end of Q1 2019. A 20-year mine life is a vastly superior investment to the current 13-year study.

• Metal recovery optimisation: We adopted a conservative 85.5% cobalt recovery rate for the PFS (versus an already achieved 88% recovery). Larger scale testing will be conducted during the BFS, incorporating recycle streams, for which we are targeting a 90% recovery rate.

This again, substantially improves project economics. We will be releasing these results by the end of Q2 2019.

• Optimisation of power consumption/pricing: 22% of the site cash costs were related to electrical power. Strong opportunities exist for minimising energy consumption as well as distributed energy generation (solar photovoltaic) to substantially reduce these costs.

We will release results by the end of Q2 2019

• Process plant tailings: A tailings optimisation study will be undertaken with results to be delivered by end of Q4 2018.

That’s four major catalysts for COB in the next 12 months, starting in Q4 2018.

Can you recap the COB commercial strategy?

Joe Kaderavek: Our strategy is focused on maximising the payable cobalt whilst participating in the strong growth of the lithium-ion battery market.

Unlike the traditional cobalt mining model, Cobalt Blue is an integrated refinery model delivering battery-grade cobalt sulphate at a premium to the cobalt price.

Can you provide an update on COB’s commercial/investment relationships?

Joe Kaderavek: In the near term the investment market is ‘risk off’, with significant noise preventing more rational investment.

Investment feedback from global funds repeatedly stressed that COB is emerging as a top-tier investment opportunity for those seeking primary cobalt exposure.

READ: Cobalt Blue Holdings’ Board confident of funding next stages of world-class cobalt project

COB remains very focused on understanding the battery market and our fit into the future production chain. Commercially, scarcity of supply beyond 2020 remains a strong market driver.

Battery industry participants and cobalt trading houses understand (indeed predicted) the current low spot cobalt price of around US$30/lb and point to emerging deficits over the horizon. It is these deficits that drive commercial behaviour relevant to COB, rather than the spot market.

The current cobalt market has sold off – what are you seeing?

Joe Kaderavek: Excess cobalt units are being produced by the Democratic Republic of Congo. These will take 12-18 months to work through, whilst pricing will likely remain in a trading range.

The equities ‘risk off’ mode is a separate matter. The market will revert to a more neutral stance, and will understand that pricing remains supportive of the Thackaringa Cobalt Project coming into production.

]]>
Fri, 31 Aug 2018 08:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203926/cobalt-blue-optimising-the-thackaringa-cobalt-project-203926.html
<![CDATA[News - Cobalt Blue sees growing appetite for key battery metal during Korean visit ]]> https://www.proactiveinvestors.com.au/companies/news/201600/cobalt-blue-sees-growing-appetite-for-key-battery-metal-during-korean-visit-201600.html Cobalt Blue Holdings Ltd (ASX:COB) received confirmation that battery-driven demand continues to substantially outpace cobalt supply during a visit to its first mover partner LGI and sister company LG Chem in South Korea.

The company, which is the only ASX-listed pure cobalt player, ascertained that there is a strong appetite for stable, long-term supply with this topic dominating the Korean discussions.

During the visit, it became clear that battery industry participants want to understand how cobalt supply will evolve and that the company’s Thackaringa project is an important factor in their planning processes.

READ: Cobalt Blue Holdings’ foundation partner LGI will provide support to enter global cobalt production chain

COB chief executive officer Joe Kaderavek and feasibility studies manager Dr Andrew Tong met with LGI and LG Chem representatives during the visit earlier this month.

Kaderavek said: “Investors should be aware that LG Chem is a significant global lithium-ion battery manufacturer, and its recent announcement that it is doubling its capacity to manufacture Li-ion batteries is a signpost both for the market and for COB.

“We learned the timing of this new facility generally aligns with our overall timeline.”

Insight into cobalt markets

He said trips like this were extremely useful as they assisted in developing strong relationships with large traders/end users and provided COB with commercial insights concerning long-term plans in this sector.

“On a more global note,” he said, “the cobalt spot market continues to evolve as recent supply growth from the Democratic Republic of Congo suppresses pricing, however, long-term metal price forecasts remain unchanged and very positive.

“The Li-ion battery revolution is still in its infancy and COB believes that long-term cobalt pricing will continue to be driven by tight market balances.”

READ: Cobalt Blue Holdings delivers ‘comprehensive PFS that showcases Thackaringa Cobalt Project’

Cobalt Blue, in conjunction with Broken Hill Prospecting Ltd (ASX:BPL), has the Thackaringa Cobalt Project near the mining centre of Broken Hill for which a preliminary feasibility study (PFS) was released in early July.

In an update to shareholders, Kaderavek said the company was now progressing to a bankable feasibility study for its integrated cobalt strategy.

He said: “The PFS represents a strong technical baseline for the project, with the primary objective being to confirm project viability.

“In accordance with the JORC 2012 Code, the PFS provides a technically and economically feasible method for extracting and treating the ore, and hence COB was able to declare a maiden ore reserve statement.”

READ: Cobalt Blue Holdings’ Board confident of funding next stages of world-class cobalt project

The company is progressing several option studies identified by the PFS in order to target revenue increases and possible cost reductions.

In regards to increasing life of mine beyond 12.8 years as stated in the PFS,  COB is targeting a 20-plus year project and will undertake a sizeable drilling campaign planned to begin in September.

This would lead to an updated mineral resource estimate by the end of the March quarter of 2019.

Improving recoveries

Another revenue increase is possible with improved cobalt and sulphur recoveries and the company will undertake a significant bulk test work program with results expected around mid-2019.

This program will also enable COB to undertake more detailed marketing studies and build confidence with potential commercial partners.

COB is also working on possible cost reductions in areas including power and process plant tailings.

Kaderavek added: “We have significant upside catalysts for investors over the next 12 months, in parallel with our ongoing BFS.”

]]>
Thu, 26 Jul 2018 13:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201600/cobalt-blue-sees-growing-appetite-for-key-battery-metal-during-korean-visit-201600.html
<![CDATA[News - Cobalt Blue Holdings’ Board confident of funding next stages of world-class cobalt project ]]> https://www.proactiveinvestors.com.au/companies/news/200163/cobalt-blue-holdings-board-confident-of-funding-next-stages-of-world-class-cobalt-project-200163.html Cobalt Blue Holdings Ltd’s (ASX:COB) Board is confident it will be able to obtain funding to complete the next stages of the Thackaringa Cobalt Project without difficulty, including a bankable feasibility study (BFS).

COB’s Board considers that it has reasonable grounds for project financing and availability of funding as set out in the pre-feasibility study (PFS) released yesterday.

READ: Cobalt Blue Holdings delivers ‘comprehensive PFS that showcases Thackaringa Cobalt Project’

The quantum of funding required to produce a bankable feasibility study is the subject of a budgeting process which has not been finalised.

Projected costs from the BFS stage until the operations stage are outlined in the capital costs described in the PFS announcement.

The company has considered a range of options for funding prior to and during the expenditure of capital costs.

It is anticipated that finance will be sourced through strategic partnerships, including the use of debt and equity.

READ: Cobalt Blue Holdings’ PFS justifies proceeding towards commercial development of Thackaringa

The reasonable financing and funding grounds include COB’s commercial strategy, its processing technology, attractive project returns, economically resilient operating costs and an extension of mine life.

The commercial strategy for Thackaringa is to examine an integrated mine/refinery concept.

Traditionally, cobalt mines have sold cobalt as a by-product of copper or nickel and received a fraction of the value of the contained cobalt.

Focus on battery-ready cobalt product

COB’s strategic focus is on the battery industry and producing a battery-ready cobalt product, cobalt sulphate, at sufficient purity to enter the production chain directly.

This allows COB to sell directly into the battery industry and specifically to cathode precursor manufacturers representing the front end of the industry.

The long-term commercial strategy is to extract the maximum cobalt margin.

Board and management have a strong track record of attracting partner interest and attracting new capital, particularly due to the processing technology.

Investment from LG International

This includes a US$6 million investment from LG International, the resources investment arm of LG Corporation, acting in cooperation with LG Chem, one of the world’s largest lithium-ion battery makers.

LG Chem possesses strong technical leadership in the development of next-generation batteries, in particular for fixed storage and Electric Vehicles (EVs).

It is also one of the world’s leading EV battery makers.

Under the First Mover partnership LG will provide capital and technical assistance to COB.

Project returns

There are also attractive project returns.

Project capital costs are estimated at $550 million, including $66 million in contingencies, and about $24 million in pre strip.

The (production target) project return is $544 million delivering an IRR of 22%, well in excess of commercial cost of capital assumptions.

The project (production target) has a payback period of less than four years.

Examining capital intensity (US$/tonne cobalt production) at about US$115,000 per tonne, the project is a standout amongst its global peer group.

Resilient operating costs

Operating costs are also economically resilient.

The PFS delivered an operating cost (C1 US$/pound - net of sulphur) of about US$12.80/pound of cobalt and this is before upcoming cost optimisation studies (tailings and power).

The company believes that US$10-12/pound is a world-class benchmark and provides economic resilience.

The (real) cobalt price has dropped below US$12/pound only once in the last 40 years.

There is also potential to extend the project life by treating ore from inferred inventories from the known resources and from other sources beyond Thackaringa.

These represent opportunities for COB that would have significantly positive returns on capital. 

]]>
Thu, 05 Jul 2018 15:56:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200163/cobalt-blue-holdings-board-confident-of-funding-next-stages-of-world-class-cobalt-project-200163.html
<![CDATA[News - Cobalt Blue Holdings delivers ‘comprehensive PFS that showcases Thackaringa Cobalt Project’ ]]> https://www.proactiveinvestors.com.au/companies/news/200088/cobalt-blue-holdings-delivers-comprehensive-pfs-that-showcases-thackaringa-cobalt-project-200088.html Cobalt Blue Holdings Ltd (ASX:COB) has delivered a positive pre-feasibility study (PFS) that demonstrates that the Thackaringa Cobalt Project is economic.

The PFS justifies proceeding towards commercial development of the project near Broken Hill and a bankable feasibility study will now be undertaken.

It has also established a maiden probable ore reserve of 43.6 million tonnes at 819 ppm cobalt.

READ: Cobalt Blue Holdings’ PFS justifies proceeding towards commercial development of Thackaringa

Cobalt Blue’s CEO Joe Kaderavek comments to Proactive Investors on the maiden ore reserve and PFS outcomes.

Proactive Investors: What is the significance of the announcement today?

Joe Kaderavek: COB is proud to deliver a comprehensive PFS that showcases the Thackaringa Cobalt Project.

Investors can finally see, albeit currently assuming a short mine life, the quality and value of the Thackaringa project and our proprietary process.

The project will now move into a bankable feasibility study.

Proactive Investors: What are the key focus areas over the next 12 months?

Joe Kaderavek: The PFS is a technical document, and we have intentionally used achievable targets and independent third-party experts to help set inputs and targets. For example:

1.     Recoveries - the study assumed a conservative baseline of 85.5% cobalt and 64.4% sulphur recovery. This compares to COB corporate targets of 90% and 75% respectively.

2.     Tailings Storage Facility (TSF) - the study assumed a significantly negative TSF NPV -$160 million. We believe there is considerable scope to reduce this burden.

3.     Power - represents almost a quarter of our site costs, this is a key cost reduction focus for us in the next phase.

4.     Mine life extension - our production target case was sub 13 years. The additional value generated by extending mine life to at least 20 years is enormous.

There are strong catalysts for the company over the next 12 months.

In the near term, a tailings optimisation study will be commissioned, whilst in the background, large-scale test work for our unique process will begin.

A comprehensive site drilling program is planned from Q3, in part aimed to prove up the long-term cobalt resource on site.

Power studies will run in parallel, and the use of distributed energy storage (lithium-ion batteries) to ‘shave’ peak power loads is being examined.

In addition to our Thackaringa focused technical studies, we will continue to assess the fit of our proprietary technology in processing cobalt in pyrite ores.

For example, recent technical cooperation with one of our neighbours, Havilah Resources, has delivered encouraging technical results. The technology delivers significant step out potential for the project.

Proactive Investors: What’s the significance of the PFS corporately?

Joe Kaderavek: Put simply, larger investment institutions see the delivery of a PFS study as a minimum technical hurdle before a company is ‘investable’.

They can see the upside, but simply cannot take the risk, constrained by their investment mandates.

We already have some smaller institutions on the book, but this event changes our appeal and puts us in front of global blue-chip funds. It’s a very exciting time for the company.

Proactive Investors: How competitive is Thackaringa globally?

Joe Kaderavek: Let me answer that in two ways.

1.     Operating costs – The PFS delivered an operating cost (C1 US$/pound - net of sulphur) of approximately US$12.80/pound of cobalt. This is before the upcoming cost optimisation studies (tailings and power).

We have consistently believed that US$10-12/pound is a world-class benchmark and provides economic resilience (the ability to operate under depressed market conditions). The (real) cobalt price has dropped below US$12/pound only once in the last 40 years (see chart below).

2.     Capital costs – The PFS delivered a capital cost of $A550 million (including $A66 million in contingencies) and approximately A$24 million in pre-strip. That’s approximately US$115,000 per tonne of installed cobalt capacity.

Compare this to an average of US$350,000 for greenfields project candidates identified (source: CRU) over the next decade. In simple terms, that’s 1/3 of the capital intensity of our global peer group with zero copper or nickel risk.

Proactive Investors: Please recap your overall commercial strategy

Joe Kaderavek: The Thackaringa Cobalt Project strategy is to examine an integrated mine/refinery concept.

Traditionally, cobalt mines have sold cobalt as a by-product of either copper or nickel and received a fraction of the value of the contained cobalt. Cobalt Blue’s strategic focus is on the battery industry and producing a battery-ready cobalt product (cobalt sulphate) at sufficient purity to enter the production chain directly.

This allows Cobalt Blue to sell directly into the battery industry and specifically to cathode precursor manufacturers representing the front end of the industry. The long-term commercial strategy is to extract the maximum cobalt margin.

Proactive Investors: Thank you Joe. ]]>
Wed, 04 Jul 2018 14:26:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200088/cobalt-blue-holdings-delivers-comprehensive-pfs-that-showcases-thackaringa-cobalt-project-200088.html
<![CDATA[News - Cobalt Blue Holdings’ PFS justifies proceeding towards commercial development of Thackaringa ]]> https://www.proactiveinvestors.com.au/companies/news/200081/cobalt-blue-holdings-pfs-justifies-proceeding-towards-commercial-development-of-thackaringa-200081.html Cobalt Blue Holdings Ltd (ASX:COB) has received positive results from a pre-feasibility study (PFS) into the Thackaringa Cobalt Project near Broken Hill that justify proceeding towards commercial development.

The PFS demonstrates that the ore reserve case for the Thackaringa joint venture is NPV positive and that the project is economic.

Bankable feasibility studies (BFS) will now be undertaken for the project, for which a maiden probable ore reserve of 46.3 million tonnes at 819 ppm cobalt has been established.

READ: Cobalt Blue a major ASX success story in past 12 months … and it has a long way to run

Cobalt Blue’s chairman Rob Biancardi said: “We are pleased to announce the PFS results for the world-class Thackaringa Cobalt Project.

“The PFS demonstrates the potential for COB to become a leading global supplier of cobalt sulphate to the lithium-ion battery industry.

“The project will now move into a bankable feasibility study while further resource work will target a 20-year mine life, as the production target case is limited to under 13 years.”

Stage II goals

Completion of the PFS and expenditure of a minimum of $2.5 million on exploration are the stage II goals Cobalt Blue was acquired to achieve under the Thackaringa joint venture agreement.

As such, JV partner Broken Hill Prospecting Ltd (ASX:BPL) has been advised and will assess the work through an independent expert appointed by the JV management committee.

Satisfactory completion of stage II will entitle Cobalt Blue to earn a 70% beneficial interest in the Thackaringa project, up 19% from the current interest.

Further exploration and development milestones will enable it to increase its interest to 100% and until this is achieved the interest remains beneficial.

BPL remains the registered holder of the Thackaringa project tenements until the farm-in is complete.

READ: Cobalt Blue Holdings’ foundation partner LGI will provide support to enter global cobalt production chain

The PFS has detailed a technically feasible and economic project for production of cobalt sulphate heptahydrate and elemental sulphur from the Thackaringa deposits.

The project assumed an annual ore throughput rate of 5.25 million tonnes.

Using the mining ore reserve, a project life of 9.3 years was delineated with 10 years of operations including a ramp-up period.

A production target was modelled using sensitivity analysis and this extended mine life to 12.8 years.

This target of 58.7 million tonnes at 802 ppm cobalt included the probable ore reserve and a partial component of the inferred resource of 72 million tonnes at 852 ppm cobalt, 9.3% sulphur and 10% iron.

More exploration will be needed to upgrade sufficient inferred resources to meet this target.

Cobalt Blue’s cobalt sulphate production chain.

PFS parameters

Apart from the resource, other parameters that Mining One used in the PFS are:

- Open pit earth moving mining operation conducted by contractors. - Processing plant and associated infrastructure built under engineering, procurement and construction (EPC) contracts with owner-operator management. - Power and water supply for site, to be connected to existing Broken Hill networks. Broken Hill is connected to the national power grid and is supplied with raw water from various sources, including a pipeline fed from the Murray River. - Management of the project implementation by the Cobalt Blue management team. BFS opportunities

There are four key opportunities for investigation in the BFS:

- Optimisation of process plant tailings handling and storage; - Optimisation of metal recoveries; - Optimisation of average power pricing; and - Opportunities to extend mine life.

The development timeline for the Thackaringa project.

Next steps

In the PFS, a preliminary forward work plan was developed to undertake a BFS. The key milestones were proposed as follows:

- Drilling to define a JORC 2012 compliant measured resource; - Preparation of a JORC 2012 compliant probable/proven ore reserve statement; - Confirm processing flowsheet using representative ore samples; - Complete an engineering design study to develop cost estimates to a +/-15% accuracy and confidence level; - Complete environmental and relevant permit studies, in order to lodge an EIS application; - Undertake product marketing assessments, in order to negotiate offtake agreements; and - Prepare a robust financial model for evaluation of the project, and at a level suitable for raising the necessary capital to implement the project. ]]>
Wed, 04 Jul 2018 11:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200081/cobalt-blue-holdings-pfs-justifies-proceeding-towards-commercial-development-of-thackaringa-200081.html
<![CDATA[News - Cobalt Blue Holdings to release ore reserve estimate and PFS for Thackaringa Cobalt Project ]]> https://www.proactiveinvestors.com.au/companies/news/199906/cobalt-blue-holdings-to-release-ore-reserve-estimate-and-pfs-for-thackaringa-cobalt-project-199906.html Cobalt Blue Holdings Ltd (ASX:COB) will this week release its first ore reserve estimate and finalised pre-feasibility study (PFS) for the Thackaringa Cobalt Project at Broken Hill.

The maiden estimate will be an important part of the PFS which has been completed.

While awaiting the release of the announcement Cobalt Blue and Thackaringa joint venture partner Broken Hill Prospecting Ltd (ASX:BPL), have been granted a trading halt by the ASX.

The halt will remain in place until the start of normal trading on Wednesday, 4 July, 2018, or when the announcement is released to the market.

READ: Cobalt Blue a major ASX success story in past 12 months … and it has a long way to run

Cobalt Blue is the only ASX-listed primary cobalt player and its shares last traded at 96 cents.

A successful PFS will see Cobalt Blue’s beneficial interest in the JV project increase to 70% from 51% as part of stage II earn-in requirements.

Earlier this year Broken Hill Prospecting confirmed that its partner had retained its 51% interest after completing stage I earn-in requirements, including a resource upgrade.

The project’s resource stands at 72 million tonnes at 852 ppm cobalt, 9.3% sulphur and 10% iron for 61,000 tonnes of contained cobalt at a 500 ppm cut-off.

READ: Cobalt Blue Holdings’ foundation partner LGI will provide support to enter global cobalt production chain

Broken Hill Prospecting remains registered holder of the tenements until the farm-in is complete.

New company secretary

Cobalt Blue has appointed Robert Waring as company secretary, replacing Ian Morgan who has resigned from his position.

Waring has more than 40 years of experience in financial and corporate roles, including over 25 years in company secretarial roles for ASX-listed companies, and 20 years as a director of ASX-listed companies.

Oakhill Hamilton director

He is a director of Oakhill Hamilton Pty Ltd, which provides company secretarial and corporate advisory services to a range of listed and unlisted companies.

Cobalt Blue chairman Robert Biancardi thanked Morgan for his contribution to the company.

“He has been an integral member of the COB team since COB’s successful initial public offering, commencement of the Thackaringa Joint Venture and ASX listing on 2 February, 2017.”

Waring is a non-executive director and company secretary of unlisted resource company Tartana Resources Limited and is company secretary of Kalbar Resources Ltd.

He is also company secretary for ASX-listed Aeris Environmental Ltd (ASX:AEI), Vectus Biosystems Ltd (ASX:VBS) and Xref Ltd (ASX:XF1).

]]>
Mon, 02 Jul 2018 11:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199906/cobalt-blue-holdings-to-release-ore-reserve-estimate-and-pfs-for-thackaringa-cobalt-project-199906.html
<![CDATA[News - Cobalt Blue Holdings thanks Trangie Johnston for board participation ]]> https://www.proactiveinvestors.com.au/companies/news/199173/cobalt-blue-holdings-thanks-trangie-johnston-for-board-participation-199173.html Cobalt Blue Holdings Ltd (ASX:COB) has a change in the board, with Trangie Johnston resigning as a non-executive director to focus on his managing director position at Broken Hill Prospecting Ltd (ASX:BPL).

Broken Hill Prospecting is Cobalt Blue's joint venture partner at the Thackaringa Cobalt Project near Broken Hill.

Robert Biancardi, chairman for Cobalt Blue, commented:

"Whilst we are disappointed to lose Trangie’s valuable input as a COB director, as BPL’s managing director he remains closely interested in the success of the Thackaringa Project.

"Trangie’s 22 years’ experiences in exploration, project development and mining are valued by the COB board."

READ: Cobalt Blue's partner LGI will provide support to enter global cobalt production chain ]]>
Wed, 20 Jun 2018 09:03:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199173/cobalt-blue-holdings-thanks-trangie-johnston-for-board-participation-199173.html
<![CDATA[News - Cobalt Blue Holdings’ foundation partner LGI will provide support to enter global cobalt production chain ]]> https://www.proactiveinvestors.com.au/companies/news/196190/cobalt-blue-holdings-foundation-partner-lgi-will-provide-support-to-enter-global-cobalt-production-chain-196190.html Cobalt Blue Holdings Ltd (ASX:COB) recently announced a First Mover Strategic Partnership with LGI which provides a direct pathway for battery-ready cobalt from the Thackaringa Cobalt Project near Broken Hill.

LGI is the resources investment arm of global giant LG Corp (KRX:003550) and will act in cooperation with LG Chem, one of the largest lithium-ion battery makers in the world.

Chief executive officer Joe Kaderavek comments exclusively to Proactive Investors on the significance of the partnership.

Proactive Investors: What is the significance of this announcement?

Joe Kaderavek: Confidence in the project is building through progressive feasibility studies.

Our recent commercial visits to Asia confirmed strong interest in the Thackaringa Cobalt Project.

From these expressions of interest, the COB Board was able to choose the best foundation partner for our project and that partner is LGI.

Proactive Investors: What is the first mover partnership?

Joe Kaderavek: The first mover partnership is essentially a relationship milestone.

COB is looking for a long-term partner to provide capital and technical assistance going forward.

Investors are aware that COB has ambitious strategic goals that include producing battery quality cobalt sulphate for the next generation of lithium-ion cells. This has profound margin and cash flow implications for our business.

COB will enter the global production chain and compete with entrenched long-dated relationships.

A world-class partner, such as LGI and its sister company LG Chem, is exactly what COB needs to successfully enter this market.

Proactive Investors: Tell us about your partner

Joe Kaderavek: Investors readily identify with LG as a premium global brand. LG International, however, executes resources investment strategy for the LG Group.

Historically, LG International has specialised in global mining investment and operations and has now extended its focus to include 'Green Minerals', the raw materials of lithium-ion battery construction such as cobalt, nickel and lithium.

LG International operates in close cooperation with LG Chem to secure materials for the LG Group overall.

Proactive Investors: Why do you need a technical partner?

Joe Kaderavek: Globally, only a few emerging cobalt developers have ever produced a 20% cobalt sulphate crystal and this demonstration of expertise is opening doors.

For COB, the focus is on battery-grade cobalt in the 2020s and our choice of partner is very important.

Our vision includes two important outcomes:

1. Extract the strongest margins from our cobalt over the life of the Thackaringa Cobalt Project; and

2. Minimise the risk of technological obsolescence. One thing is certain, today’s standard will change, and possibly quite radically, into the future as large-scale energy storage changes our lives.

Proactive Investors: What key milestone news flow should investors look for in 2018?

Joe Kaderavek: We will be releasing our pre-feasibility study (PFS) by mid-year 2018. We are very excited to be delivering the project PFS, as it will showcase the size, longevity and value of the world-class Thackaringa Cobalt Project.

Key project milestones - PFS mid-2018 and bankable feasibility study (BFS) mid-2019.

]]>
Wed, 02 May 2018 07:43:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196190/cobalt-blue-holdings-foundation-partner-lgi-will-provide-support-to-enter-global-cobalt-production-chain-196190.html
<![CDATA[News - Cobalt Blue welcomes strategic partner LG International to share register ]]> https://www.proactiveinvestors.com.au/companies/news/195801/cobalt-blue-welcomes-strategic-partner-lg-international-to-share-register-195801.html Cobalt Blue Holdings Ltd (ASX:COB) has welcomed LG International (LGI) as a major shareholder to its register with a 6.19% holding.

The shareholding is a result of the recently outlined strategic partnership with LGI, the resources investment arm of LG Corporation.

READ: Cobalt Blue a major ASX success story in past 12 months … and it has a long way to run

The company issued 7.09 million shares to LGI priced at $1.10 raising $7.8 million.

The partnership with LGI aimed at sourcing long-term supplies of battery-ready cobalt from the Thackaringa Cobalt Project in New South Wales.

One of the largest lithium-ion battery makers in the world

LGI is the resources investment arm of global giant LG Corp (KRX:003550) and will act in cooperation with LG Chem, one of the largest lithium-ion battery makers in the world.

LG Chem possesses strong technical leadership in the development of next-generation batteries, especially for fixed storage and electric vehicles (EVs).

Under the first mover partnership, LG will provide capital and technical assistance for Cobalt Blue to make a high-purity battery-grade cobalt sulphate from Thackaringa.

Focused on pre-feasibility study completion this quarter

Thackaringa’s resource now stands at 72 million tonnes at 852 ppm cobalt, 9.3% sulphur and 10% iron for 61,000 tonnes of contained cobalt at a 500 ppm cut-off.

Cobalt Blue is working towards releasing results from its pre-feasibility study (PFS) by the end of the June quarter.

]]>
Thu, 26 Apr 2018 09:49:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195801/cobalt-blue-welcomes-strategic-partner-lg-international-to-share-register-195801.html
<![CDATA[News - Cobalt Blue Holdings retains 51% beneficial ownership of Thackaringa Cobalt Project ]]> https://www.proactiveinvestors.com.au/companies/news/195437/cobalt-blue-holdings-retains-51-beneficial-ownership-of-thackaringa-cobalt-project-195437.html Cobalt Blue Holdings Ltd (ASX:COB) has retained its 51% beneficial ownership in the Thackaringa Cobalt Project Joint Venture after completing stage I earn-in requirements.

JV partner Broken Hill Prospecting Ltd (ASX:BPL) has advised of its satisfactory assessment of the stage I requirements.

These included completion of a major resource upgrade at the project, which was achieved a month ago.

READ: Cobalt Blue partners with LG to source cobalt for the lithium-ion battery market, shares up

Cobalt Blue’s chairman Rob Biancardi said: “COB is delighted to have achieved our stage I milestone.

“We look forward to working with our JV partner, Broken Hill Prospecting, in progressing the world-class Thackaringa Cobalt Project.”

The project has a JORC-compliant resource of 72 million tonnes at 852 ppm cobalt, 9.3% sulphur and 10% iron for 61,500 tonnes of contained cobalt.

COB and BPL have entered into a farm-in joint venture agreement in respect of the Thackaringa Cobalt Project to finance and undertake exploration.

Until Cobalt Blue’s farm-in obligations have been satisfied, its interest in the tenements at Thackaringa is beneficial.

READ: Cobalt Blue a major ASX success story in past 12 months … and it has a long way to run

Under the terms of the agreement, Cobalt Blue’s beneficial interest will be increased in tranches on satisfaction of certain exploration and development milestones.

When Cobalt Blue has completed its farm-in obligations, it will become the registered holder of the Thackaringa project tenements.

Broken Hill Prospecting remains the registered holder of the tenements until the farm-in is complete.

The next milestone which will take COB’s beneficial interest to 70% is the completion of a pre-feasibility study by June 30, 2018.

Steady progress is being made in this regard and results to date have been positive.

]]>
Fri, 20 Apr 2018 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195437/cobalt-blue-holdings-retains-51-beneficial-ownership-of-thackaringa-cobalt-project-195437.html
<![CDATA[News - Cobalt Blue confirms partnership with LG International with share issue ]]> https://www.proactiveinvestors.com.au/companies/news/195000/cobalt-blue-confirms-partnership-with-lg-international-with-share-issue-195000.html Cobalt Blue Holdings Ltd (ASX:COB) has confirmed its partnership with LG International (LGI) after issuing just over 7 million shares.

Last month, Cobalt Blue entered a partnership with LGI aimed at sourcing long-term supplies of battery-ready cobalt from the Thackaringa Cobalt Project in New South Wales.

READ: Cobalt Blue partners with LG to source cobalt for the lithium-ion battery market, shares up

Importantly, the issue of the shares to LGI was part of a placement that raised $7.8 million in new funding.

One of the largest lithium-ion battery makers in the world

LGI is the resources investment arm of global giant LG Corp (KRX:003550) and will act in cooperation with LG Chem, one of the largest lithium-ion battery makers in the world.

LG Chem possesses strong technical leadership in the development of next-generation batteries, especially for fixed storage and electric vehicles (EVs).

Under the first mover partnership, LG will provide capital and technical assistance for Cobalt Blue to make a high-purity battery-grade cobalt sulphate from Thackaringa.

READ: Cobalt Blue a major ASX success story in past 12 months … and it has a long way to run

Thackaringa’s resource now stands at 72 million tonnes at 852 ppm cobalt, 9.3% sulphur and 10% iron for 61,000 tonnes of contained cobalt at a 500 ppm cut-off.

Cobalt Blue is working towards releasing results from its pre-feasibility study (PFS) by the end of the June quarter.

]]>
Mon, 16 Apr 2018 12:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195000/cobalt-blue-confirms-partnership-with-lg-international-with-share-issue-195000.html
<![CDATA[News - Cobalt Blue a major ASX success story in past 12 months … and it has a long way to run ]]> https://www.proactiveinvestors.com.au/companies/news/193755/cobalt-blue-a-major-asx-success-story-in-past-12-months-and-it-has-a-long-way-to-run-193755.html Cobalt Blue Holdings Ltd (ASX:COB) has been a major ASX success story since listing early in 2017, riding high on the cobalt success story, which is based on the looming demand for lithium-ion batteries in the electric vehicle (EV) and energy storage markets.

After debuting at 18 cents in early February 2017, shares rose to 33 cents in the first three weeks and then stagnated, trading in the range of 14 to 19 cents until late October.

READ: Cobalt Blue delivers resource upgrade at Thackaringa Project, paving the way for 70% stage II earn in

Since then it has been onwards and upwards as Cobalt Blue, the only ASX-listed primary cobalt player, has reached new highs on a regular basis, supported by steady news flow from its Thackaringa Cobalt Project near the silver, lead and zinc mining stronghold of Broken Hill.

On March 26, Cobalt Blue cracked the $1.50 mark, up almost 45% on a week earlier when it announced a resource upgrade.

READ: Cobalt Blue partners with LG to source cobalt for the lithium-ion battery market, shares up

This was followed later in the week by news of a cobalt sourcing deal and US$6 million placement to LG International, one of the world’s largest lithium-ion battery makers in the world.

The Cobalt Blue story is not likely to end here, with the company to announce results of a pre-feasibility study (PFS) by the end of the June quarter and the cobalt demand story not showing signs of easing.

Thackaringa Cobalt Project is close to infrastructure, just 20 kilometres from Broken Hill.

Opportunities are “where we are going”

Chairman Rob Biancardi adds strength to the upward trend. “The opportunities for us are not where we are now, but where we are going,” he said.

“Things are moving quickly in the EV space with a lot of European countries dropping their dates for phasing out internal combustion engine vehicles and there are more smartphones around than ever before.

“Cobalt Blue is on the first step of a very long ascent and we are well placed to go the journey.

“We need to know where the tech-spec of the batteries is in the future, not in 2018 but where it will be in 2022 or 2023.”

Valuation appears compelling: Blue Ocean Equities

Blue Ocean Equities also noted the Cobalt Blue success story in a report issued after the LG partnership news.

“COB’s potential valuation appears compelling,” senior resources analyst Steuart McIntyre said.

“While the share price has performed strongly over the past 3-4 months, given the growing cobalt supply concerns with end users, in our view the company’s valuation remains compelling.

“Ignoring the impact of the LG placement, the company has about 133 million shares on issue and at $1.25 the market cap is still only about $150 million.

“With about $4.6 million in cash, plus $6.7 million due from option strikes, COB’s EV is about A$130 million.”

Cobalt Blue was spun out of Broken Hill Prospecting Ltd (ASX:BPL), which remains leveraged to the cobalt story by holding a 49% beneficial interest in Thackaringa as well as holding legal title to the leases.

72% of resource in indicated category

The cobalt project’s resource now stands at 72 million tonnes at 852 ppm cobalt, 9.3% sulphur and 10% iron for 61,000 tonnes of contained cobalt at a 500 ppm cut-off.

About 72% of the resource is now classified as indicated, which CEO Joe Kaderavek said is a big tick along with the scale of the resource.

“That is only the first double punch because as we come into the PFS investors will see how we will process the ore, and how effectively we can do that.

“The engineering then says what is the economic ore, what is the cut-off.

“The lower cost we have as a result of the processing, the bigger the resource grows and all of this will significantly de-risk the project.

READ: Cobalt Blue achieves high cobalt recoveries in tests of ore from Thackaringa project

“With the PFS coming by mid-year it is quite a quick step between stage I and stage II. We are finalising this work now, which is a matter of pulling together the above and below ground test work to create the engineering backdrop.

“Our results have been encouraging and we have demonstrated that we can take 88% of the cobalt that is in the ground and turn it into a payable product.”

Another factor that stands Cobalt Blue apart from other cobalt producers is the fact that it is not a by-product player.

“Chasing one metal”

“By chasing one metal we can optimise the whole process to extract that metal rather than concentrating on other metals,” Kaderavek said.

Then there is also step-out potential and the CEO said that although the cobalt in pyrite resource was unique to Australia, it was more than likely evident in other locations around Broken Hill but had never been sought previously.

“The cooperation MOU recently signed with Havilah Resources is indicative of management believing that this process can apply immediately beyond the borders of Thackaringa.

“This is just a 30-kilometre step-out for us but it is clear that based on the geology of the region, we can step out hundreds of kilometres,” he said.

“Another point of difference,” Kaderavek said, “is how we deal with the ore.

“From our point of view it’s simple as we have one metal to optimise and the sulphur is just a credit on the side.

Cobalt sulphate crystal made

“Importantly what we can do is to combine the cobalt and sulphur to make a cobalt sulphate crystal, which is basically a salt used in the cathode of the positive electrode of a battery.

“The efficiency of the process allows us to get high recoveries and low cost. That’s where the asset comes back to us and says you can now combine the two key ingredients of the ore and make a battery-ready product.”

The traditional relationship between a cobalt mine and the battery industry is via a middle party, such as a metal refinery and then a chemical refinery, which produces the battery-ready cobalt from the ore.

Most cobalt sulphate produced today is made into a metal at a refinery and then dissolved back into a salt with sulphuric acid.

100% payable cobalt product

“This is the metallurgical equivalent of 10 steps forward and eight steps back,” the CEO said, “and the miner then only receives about 30 cents in the dollar for the raw product.

“As a relatively new Australian upstart, we want to get into that market and make a 100% payable cobalt product.”

Blue Ocean believes a cobalt price of around US$25 per pound is probably defensible, particularly given the spot price is around US$43, and supply appears relatively constrained over the next few years.

“If mine life can be extended to about 20 years, and we believe it probably will, at a cobalt price of US$25/pound our NPV10 for Thackaringa is about A$800 million,” McIntyre said.

“In that light, could this company be trading with a market cap of $300-400 million near-term?  We certainly think so, particularly given the scarcity of viable cobalt exposures for global institutional investors.

“Added to this is the validation of COB’s strategy that we believe the LG investment represents.”

Kaderavek added: “Thackaringa production is focused on the period when the EV market will be really firing up and the relentless drive for improved battery energy storage will come right into play.”

]]>
Mon, 26 Mar 2018 16:29:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193755/cobalt-blue-a-major-asx-success-story-in-past-12-months-and-it-has-a-long-way-to-run-193755.html
<![CDATA[News - Cobalt Blue Holdings and Broken Hill Prospecting continue to ride high on cobalt story ]]> https://www.proactiveinvestors.com.au/companies/news/193752/cobalt-blue-holdings-and-broken-hill-prospecting-continue-to-ride-high-on-cobalt-story-193752.html Cobalt Blue Holdings Ltd (ASX:COB) and its Thackaringa Cobalt Project joint venture partner Broken Hill Prospecting Ltd (ASX:BPL) continue to climb on the back of the tech metals and new-age battery demand story.

Since releasing an upgraded cobalt resource estimate for the project near Broken Hill a week ago, the companies have reached repeated new highs.

READ: Cobalt Blue partners with LG to source cobalt for the lithium-ion battery market, shares up

Today Cobalt Blue has reached a new 12-month high of $1.50, up almost 9% from Friday's close.

Since last Monday's resource announcement shares have climbed almost 45%, supported by Friday's news of a new cobalt supply partnership arrangement with LG Corp (KRX:003550).

READ: Broken Hill Prospecting shares run higher on Thackaringa cobalt resource upgrade, up 39%

Broken Hill Prospecting is leveraged to the cobalt story through holding a 49% beneficial interest in the project as well as holding legal title to the leases.

In early trade, it was up 50% from Friday's close to 21 cents, also a new 12-month high.

BPL is up more than 160% since a pre-resource upgrade trading halt on March 15.

READ: Cobalt Blue delivers resource upgrade at Thackaringa project, paving the way for 70% stage II earn in

The Thackaringa Cobalt Project now comprises 72 million tonnes at 852 ppm cobalt, 9.3% sulphur and 10% iron for 61,000 tonnes contained cobalt at a 500 ppm cut-off.

About 72% of the resource is now classified as indicated.

The news flow from the Thackaringa project will continue with a pre-feasibility study expected to be delivered by June 30, 2018.

]]>
Mon, 26 Mar 2018 14:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193752/cobalt-blue-holdings-and-broken-hill-prospecting-continue-to-ride-high-on-cobalt-story-193752.html
<![CDATA[News - Cobalt Blue partners with LG to source cobalt for the lithium-ion battery market, shares up ]]> https://www.proactiveinvestors.com.au/companies/news/193660/cobalt-blue-partners-with-lg-to-source-cobalt-for-the-lithium-ion-battery-market-shares-up-193660.html Cobalt Blue Holdings Ltd (ASX:COB) has entered a partnership with LG International (LGI) aimed at sourcing long-term supplies of battery-ready cobalt from the Thackaringa Cobalt Project.

LGI is the resources investment arm of global giant LG Corp (KRX:003550) and will act in cooperation with LG Chem, one of the largest lithium-ion battery makers in the world.

LG Chem possesses strong technical leadership in the development of next-generation batteries, especially for fixed storage and electric vehicles (EVs).

Capital and technical assistance

Under the first mover partnership, LG will provide capital and technical assistance for Cobalt Blue to make a high-purity battery-grade cobalt sulphate from the cobalt project near Broken Hill.

Chief executive officer Joe Kaderavek said: “COB is excited to find a high-quality partner in LG and assist them in sourcing long-term supply of battery-ready cobalt.

“The technical competence of LG business is world-class and this partnership will add significantly to our project.”

Shares continue upward trend

Shares have continued an upward trend supported by strong news flow and have climbed almost 14% to be $1.39.5 intra-day, a new 12-month high.

READ: Cobalt Blue delivers resource upgrade at Thackaringa Project, paving the way for 70% stage II earn-in

Cobalt Blue has also executed a binding term sheet with LGI aiming to raise US$6 million with the transaction to be completed by Monday, April 16, 2018.

The company will issue shares at A$1.10 per share for the number of shares equivalent to the conversion rate on the day when the funds are received in its nominated bank account.

This represents a 15% premium to the 30-day VWAP of 95.4 cents and a maximum of 14 million shares may be issued.

READ: Cobalt Blue achieves high cobalt recoveries in tests of ore from Thackaringa project

Cobalt Blue’s strategy is focused on maximising payable cobalt from Thackaringa while participating in the strong growth of the lithium-ion battery market.

Unlike the traditional cobalt mining model, Cobalt Blue is an integrated refinery model delivering battery-grade cobalt sulphate at a premium to the cobalt price.

The company is seeking to produce premium cobalt sulphate that is suitable for tomorrow’s battery requirements and believes LG Chem represents a strong partner.

“Thackaringa project is unique”

Chairman Rob Biancardi said: “This is an important event for Cobalt Blue and its shareholders.

“It demonstrates that the Thackaringa project is unique and is one the most advanced cobalt projects of its type in the world.”

Cobalt Blue believes the project will be in production at a time when the current suite of cobalt-centred projects, predominantly out of Africa, will be at full production and an emerging deficit will be forming.

72% of resource in indicated category

The company this week released a resource upgrade for Thackaringa, which now comprises 72 million tonnes at 852 ppm cobalt, 9.3% sulphur and 10% iron for 61,000 tonnes contained cobalt at a 500 ppm cut-off.

The resource upgrade has also provided increased confidence with about 72% of the resource now classified as indicated.

READ: Broken Hill Prospecting and Cobalt Blue form cobalt alliance with LG International

A draft geological report has been submitted to joint venture partner, Broken Hill Prospecting (ASX:BPL), serving notice that it believes it has fulfilled stage I JV requirements.

]]>
Fri, 23 Mar 2018 10:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193660/cobalt-blue-partners-with-lg-to-source-cobalt-for-the-lithium-ion-battery-market-shares-up-193660.html
<![CDATA[News - Cobalt Blue delivers resource upgrade at Thackaringa Project, paving the way for 70% stage II earn in ]]> https://www.proactiveinvestors.com.au/companies/news/193343/cobalt-blue-delivers-resource-upgrade-at-thackaringa-project-paving-the-way-for-70-stage-ii-earn-in-193343.html Cobalt Blue Holdings Ltd (ASX:COB) has released a significant resource upgrade at the Thackaringa Project near Broken Hill, New South Wales.

The resource estimate now comprises 72 million tonnes at 852 parts per million (ppm) cobalt, 9.3% sulphur and 10% iron for 61,000 tonnes contained cobalt at a 500 ppm cobalt cut-off.

Compared with the June 2017 resource estimate the upgrade reflects a 31% increase in total tonnes and a 23% increase in contained cobalt.

Improvement in geological confidence

The resource upgrade has also provided increased confidence with about 72% of the resource now classified as indicated.  

Cobalt Blue has submitted the draft geological report to its joint-venture (JV) partner, Broken Hill Prospecting (ASX:BPL), serving notice that the company believes it has fulfilled its Stage I JV requirements.

The news has been well received with Cobalt Blue's share price hitting a  12-month high of $1.24 on Monday morning, building on recent strong gains.

READ: Cobalt Blue reaches new 12-month high on back of compelling cobalt story

Looking forward, Cobalt Blue remains on schedule to deliver a pre-feasibility study (PFS) by 30 June 2018 and satisfy obligations under stage II of the agreement to secure a 70% beneficial interest.

Base case 10-year mine life

Crunching the numbers, Cobalt Blue expects that the company should be able to mine 5 million tonnes of resource annually for about 10 years.

Joe Kaderavek, chief executive officer, said: "Investors should look at the project as having a 10-year mine life in the indicated status.”

Development strategy may substantially extend mine life

Management is of the view that it could backfill with a looser resource to create a 20-year mine before going into production.

Kaderavek said: “The front of the cupboard should be full of high-quality, high-confidence ore and at the back there is another 10-plus years.

“The confidence of an indicated resource is a big tick, the scale is a big tick and that is only the first double punch because as we come into the PFS investors will see how we will process the ore, and how effectively we can do that.”

Completion of stage I commitment

Management highlighted that the resource work allows it to effectively step through stage I of the agreement with Broken Hill Prospecting.

The PFS is expected to be delivered by the middle of the year, implying a fairly quick step between stage I and stage II.

The company is collecting the above and below-ground test work to create the engineering backdrop.

88% of cobalt can be turned into a viable product

All the back-end, PFS work relies on the front-end geological work that has been done.

Kaderavek said: “Our results to date have been encouraging and we have demonstrated that we can take 88% of the cobalt that is in the ground and turn it into a viable product.

“By chasing one metal we are able to optimise the whole process to extract that one metal – we are not a by-product player.”

]]>
Mon, 19 Mar 2018 11:46:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193343/cobalt-blue-delivers-resource-upgrade-at-thackaringa-project-paving-the-way-for-70-stage-ii-earn-in-193343.html
<![CDATA[News - Cobalt Blue reaches new 12-month high on back of compelling cobalt story ]]> https://www.proactiveinvestors.com.au/companies/news/193116/cobalt-blue-reaches-new-12-month-high-on-back-of-compelling-cobalt-story-193116.html Cobalt Blue Holdings Ltd (ASX:COB) continues to ride high on the cobalt demand story and ongoing technical studies at its Thackaringa project near Broken Hill in far west New South Wales.

Shares reached a new 12-month high of 96 cents today, up almost 15% from Tuesday’s close and on volume of more than 1.4 million.

Since late October Cobalt Blue has risen five-fold and impending news flow should support the increased price.

Cobalt a key battery metal

Cobalt is a key ingredient in new-age batteries used for electric vehicles and energy storage, and prices have surged.

The LME cobalt price is more than US$80,000 a tonne, or about 150% higher than a year ago.

Cobalt Blue is the only primary cobalt play listed on the ASX, with the goal of becoming a top five global cobalt supplier annually producing 20,000 tonnes of cobalt sulphate with a greater than 20-year mine life.

READ: Cobalt Blue achieves high cobalt recoveries in tests of ore from Thackaringa project

Cobalt Blue’s ongoing tests have achieved high recoveries of cobalt from ore to leach solution from the project.

The tests are being carried out as part of a prefeasibility study (PFS) and have demonstrated total recovery of 88% cobalt from ore to leach solution.

They have also resulted in the production of the first cobalt sulphate crystals at 20% cobalt.

Test results will be used to conduct engineering studies and cost estimates.

The Thackaringa project is near the mining centre of Broken Hill.

Cobalt Blue expects to release an upgraded resource estimate for Thackaringa shortly and to complete the PFS by mid-year.

A bankable feasibility study will follow and this is scheduled for delivery in mid-2019.

READ: Broken Hill Prospecting readies aggressive growth and value-adding strategy in 2018

Joint venture partner in the Thackaringa project, Broken Hill Prospecting Ltd (ASX:BPL), is also leveraged to the cobalt story and Cobalt Blue’s progress.

The joint venture structure has Broken Hill holding 100% legal interest and 49% beneficial interest with Cobalt Blue holding the remaining 51% beneficial interest.

Cobalt Blue was spun out of Broken Hill to fully focus on the cobalt potential of Thackaringa.

Today Broken Hill is trading at up to 7.6 cents, an increase of 7% from Tuesday’s close and the Thackaringa venture provides exposure to major upside.

This exposure includes a 2% net smelter return royalty on cobalt production, which has potential to be a major earner for the company over many years.

READ: Cobalt Blue Holdings nets $100,000 from options as cobalt strategy advances

Subject to earn in milestones, Cobalt Blue can increase its beneficial holding and ultimately earn the legal title to the project.

]]>
Wed, 14 Mar 2018 13:17:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193116/cobalt-blue-reaches-new-12-month-high-on-back-of-compelling-cobalt-story-193116.html
<![CDATA[News - Cobalt Blue achieves high cobalt recoveries in tests of ore from Thackaringa project ]]> https://www.proactiveinvestors.com.au/companies/news/192566/cobalt-blue-achieves-high-cobalt-recoveries-in-tests-of-ore-from-thackaringa-project-192566.html Cobalt Blue Holdings Ltd (ASX:COB) tests have achieved high recoveries of cobalt from ore to leach solution from the Thackaringa project near Broken Hill in the far west of New South Wales.

Tests being carried out as part of a pre-feasibility study (PFS) have demonstrated total recovery of 88% cobalt from ore to leach solution.

Results will be used to conduct engineering studies and cost estimates for the PFS.

Andrew Tong, PFS manager, said: “The high recoveries augur well for the economic evaluation of the project, which will be completed in the PFS.”

Joe Kaderavek, chief executive officer, comments exclusively to Proactive Investors on recent test work results and the implications of producing first samples of battery focused cobalt.

Proactive Investors: What is the significance of the latest test work results?

Joe Kaderavek: Cobalt Blue is finalising test work as part of a pre-feasibility study (PFS), which includes concentrate, calcine, leach and product recovery into a battery ready cobalt sulphate product.

We are completing processing of composited ore (820 kilograms) and the results have supported robust recoveries, providing confidence in the overall PFS program, including:

1.    92% of cobalt recovery from ore into concentrate, deporting circa 20% mass to refinery.

2.    Greater than 95% conversion of the pyrite into pyrrhotite reliably achieved.

3.    97.5% elemental sulphur purity achieved.

4.    96% typical leach extraction of cobalt (concentrate to liquor) with optimum conditions now established.

The Cobalt Blue process is proving very efficient in processing Thackaringa’s unique cobalt in pyrite ore.

For example, combining 1 and 2 supports a target of 88% cobalt recovery from ore into a finalised cobalt sulphate product and we anticipate further improvement on this baseline.

Proactive Investors: Why are you focusing on high purity/quality cobalt sulphate crystals?

Joe Kaderavek: We are proud to have produced our first (20% cobalt) cobalt sulphate crystals, a strong testament to our technical focus.

Cobalt sulphate enables larger, more energy dense batteries such as required in renewable storage and electric vehicles.

Our focus is to target this segment as it grows by more than 300% in the coming decade.

Proactive Investors: Your current commercial travels span Japan, Korea and China. What are your objectives?

Joe Kaderavek: Globally, only a handful of emerging cobalt developers have ever produced a 20% cobalt sulphate crystal and this demonstration of expertise is opening doors with Tier 1 battery makers.

For Cobalt Blue, the focus is on battery grade cobalt in the 2020s and our choice of partner is very important.

Our vision is to achieve two important outcomes:

1.    Extract the strongest margins from our cobalt, and

2.    Minimise the risk of technological obsolescence. One thing is certain, today’s standard will change, and possibly quite radically, into the future as large-scale energy storage changes our lives.

Proactive Investors: Can you elaborate on the Mine to Battery Supply Strategy?

Thackaringa ore is somewhat different as cobalt and sulphur occur naturally with the ore which is clean of deleterious elements.

A traditional cobalt mine sells a concentrate product into an established refinery chain and receives circa 30% of the cobalt price in payment.

Our ‘mine to battery’ strategy, however, focuses on delivering a high purity CoSO4 crystal directly into battery production, achieving a premium to the cobalt price.

This has profound margin and cashflow implications for our business.

Investors should think of Thackaringa as a world-class integrated cobalt mine/refinery.

Proactive Investors: Finally, what key milestone news flow should investors look out for during 2018?

Joe Kaderavek: We will be releasing our upgraded resource estimate for Thackaringa shortly and investors can then expect a PFS to be completed by mid-year.

We are very excited to be delivering the project PFS, as it will showcase the size, longevity and value of the world-class Thackaringa cobalt project.

Key Project Milestones - PFS mid-2018 and bankable feasibility study (BFS) mid-2019.

Proactive Investors: Thankyou Joe.

]]>
Mon, 05 Mar 2018 11:27:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192566/cobalt-blue-achieves-high-cobalt-recoveries-in-tests-of-ore-from-thackaringa-project-192566.html
<![CDATA[News - Cobalt Blue Holdings nets $100,000 from options as cobalt strategy advances ]]> https://www.proactiveinvestors.com.au/companies/news/191423/cobalt-blue-holdings-nets-100000-from-options-as-cobalt-strategy-advances-191423.html Cobalt Blue Holdings Ltd (ASX:COB) has netted more than $100,000 from the exercise of options, further supporting its cobalt strategy.

The company has issued more than 400,000 new shares after the quoted options (ASX:COBO) were exercised at $0.25 each.

This represents a healthy discount to the current price of the options, which is $0.365.

Cobalt Blue’s shares are trading at $0.60 and since 20 November 2017 have risen from $0.23, reaching a record high of $0.89 in late December.

READ: Cobalt Blue Holdings receives final assays allowing it to progress to feasibility stage

The company is due to deliver a pre-feasibility study for its Thackaringa Cobalt Project near Broken Hill in far west New South Wales by mid-2018.

The project area is under-explored, with the vast majority of historical exploration directed at or around outcropping pyritic cobalt deposits at Pyrite Hill, Big Hill and Railway deposits.

These deposits comprise 54.9 million tonnes at 910 ppm cobalt, 9.56% sulphur and 10.9% iron for 49,986 tonnes of cobalt.

Potential to extend resource

Potential to extend the mineral resource at these deposits and other Thackaringa prospects is high.

Cobalt Blue is undertaking exploration and development programs on the cobalt project as part of a farm-in joint venture agreement with Broken Hill Prospecting Limited (ASX:BPL).

It has a 51% beneficial interest and subject to the achievement of milestones, will be entitled to acquire 100%.

Broken Hill Prospecting remains the registered holder of the project tenements until the farm-in is complete.

READ: Cobalt Blue to test cobalt processing technology on nearby project

Cobalt Blue has also recently signed an MOU to use its proprietary technology to determine whether cobalt from sulphide ore at Havilah Resources’ (ASX:HAV) Mutooroo copper-cobalt deposit can be recovered economically.

Mutooroo is west of the Thackaringa deposit, where metallurgical work has identified a potential processing path demonstrating strong cobalt recoveries for pyrite hosted cobalt.

The parties believe Mutooroo may have similar metallurgical requirements to commercialise cobalt.

]]>
Fri, 09 Feb 2018 14:07:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191423/cobalt-blue-holdings-nets-100000-from-options-as-cobalt-strategy-advances-191423.html
<![CDATA[News - Cobalt Blue to test cobalt processing technology on nearby project ]]> https://www.proactiveinvestors.com.au/companies/news/190946/cobalt-blue-to-test-cobalt-processing-technology-on-nearby-project-190946.html Cobalt Blue Holdings Ltd (ASX:COB) has taken a further step towards unlocking cobalt deposits in the Broken Hill district by signing an MOU to carry out tests on a nearby project.

The company will use its proprietary technology to determine whether cobalt from sulphide ore at Havilah Resources’ (ASX:HAV) Mutooroo copper-cobalt deposit can be recovered economically.

Mutooroo is west of the company’s Thackaringa deposit where metallurgical work has identified a potential processing path demonstrating strong cobalt recoveries for pyrite hosted cobalt.

Mutooroo may have similar requirements

The parties believe Mutooroo may have similar metallurgical requirements to commercialise cobalt.

Cobalt Blue will carry out due diligence on the Mutooroo deposit and provide results by 30 April 2018.

READ: Cobalt Blue’s shares hit all time high on mineralisation continuity at Thackaringa

Havilah will provide a representative 10 kilogram sulphide ore sample and Cobalt Blue will perform laboratory test work using its technology.

This will include crushing, grinding, flotation, calcining and leaching with the aim of providing a simple proof of the process for Mutooroo ore.

The aim is to demonstrate the ability of the process to perform concentration/flotation, pyrolysis, including production of elemental sulphur, and cobalt extraction into solution.

Cobalt Blue’s test work will not optimise recoveries, which will be the subject of further studies.

Basis for future cooperation

The MOU provides the basis for possible future cooperation between the parties by mutual agreement on a wide range of activities, including marketing of cobalt sulphate concentrate.

It is non-binding, but reflects the willingness of both parties to cooperate.

READ: Cobalt Blue Holdings receives final assays allowing it to progress to feasibility stage

The Thackaringa project is 23 kilometres west of Broken Hill and 400 kilometres by rail from the port at Port Pirie.

It consists of four granted tenements with a total area of 63 square kilometres.

A prefeasibility study on the cobalt project is due for delivery by mid-2018.

The project area is under-explored, with the vast majority of historical exploration directed at or around the outcropping pyritic cobalt deposits at Pyrite Hill, Big Hill and the Railway deposit.

These deposits comprise 54.9 million tonnes at 910 ppm cobalt, 9.56% sulphur and 10.9% iron for 49,986 tonnes of cobalt.

Potential to expand resource

Potential to extend the mineral resource at these deposits and the other prospects is high.

Cobalt Blue is undertaking exploration and development programs on the cobalt project as part of a farm-in joint venture agreement with Broken Hill Prospecting Limited (ASX:BPL).

It has a 51% beneficial interest and subject to the achievement of milestones, will be entitled to acquire 100%.

Broken Hill Prospecting remains the registered holder of the project tenements until the farm-in is complete.

]]>
Thu, 01 Feb 2018 10:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190946/cobalt-blue-to-test-cobalt-processing-technology-on-nearby-project-190946.html
<![CDATA[News - Cobalt Blue Holdings receives final assays allowing it to progress to feasibility stage ]]> https://www.proactiveinvestors.com.au/companies/news/190499/cobalt-blue-holdings-receives-final-assays-allowing-it-to-progress-to-feasibility-stage-190499.html Cobalt Blue Holdings Ltd’s (ASX:COB) final assays from its resource definition drilling program at the Thackaringa Cobalt Project have paved the way for a resource upgrade.

The project which is located in New South Wales has been the subject of a 74 hole drilling program spanning nearly 12,500 metres.

The results completed in the six months to December 2017 demonstrated strong continuity along both strike and down dip at the Railway, Pyrite Hill and Big Hill deposits.

Results to feed into resource upgrade

Assay results are being incorporated into geological models in preparation for a resource upgrade which is expected to be released in February.

The program is designed to upgrade to Indicated Resource and expand the overall resource base.

The data should also provide comprehensive geotechnical information and samples for additional metallurgical testing.

Rob Biancardi, chairman, said: “This significant work program, conducted over the second half of 2017 represents a major accomplishment for the Thackaringa Cobalt Project.

“Our understanding of Thackaringa’s resource has materially improved over the past year and this work forms a baseline for our upcoming Resource Upgrade, expected by end February.”

WATCH: Cobalt Blue's Joe Kaderavek discusses recent developments in Proactive Q&A Sessions Progressing to preliminary feasibility study by mid-2018

The company then intends to progress to a preliminary feasibility study by June 30, 2018.

Management is of the view that results to date continue to justify proceeding further along the pathway towards commercial development of the Thackaringa Cobalt Project.

From a longer term perspective the company is looking to have a bankable feasibility study and project approvals completed by June 30, 2019.

Should the metrics support progressing with the project, a decision to mine and financing would occur at that stage.

]]>
Wed, 24 Jan 2018 10:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190499/cobalt-blue-holdings-receives-final-assays-allowing-it-to-progress-to-feasibility-stage-190499.html
<![CDATA[News - Cobalt Blue's shares ride higher as Thackaringa Cobalt Project studies progress ]]> https://www.proactiveinvestors.com.au/companies/news/189214/cobalt-blue-s-shares-ride-higher-as-thackaringa-cobalt-project-studies-progress-189214.html 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.

]]>
Fri, 22 Dec 2017 13:12:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189214/cobalt-blue-s-shares-ride-higher-as-thackaringa-cobalt-project-studies-progress-189214.html
<![CDATA[News - Cobalt Blue Holdings well advanced with Thackaringa Cobalt Project prefeasibility study ]]> https://www.proactiveinvestors.com.au/companies/news/188621/cobalt-blue-holdings-well-advanced-with-thackaringa-cobalt-project-prefeasibility-study-188621.html Cobalt Blue Holdings Ltd (ASX:COB) is well advanced with a prefeasibility study (PFS) for the Thackaringa Cobalt Project in the far west of New South Wales.

Metallurgical test work continues while geotechnical, hydrological and environmental assessments are ongoing.

The company said results have been positive and the PFS is on track for completion by 30 June 2018.

READ: Cobalt Blue's Joe Kaderavek discusses recent developments in Proactive Q&A Sessions™

The Thackaringa project is close to the historical mining centre of Broken Hill and is well connected to existing road and rail transport routes.

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.

In addition, BPL will receive a 2% net smelter royalty on all cobalt produced from the Thackaringa tenements for the life of mine.

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

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.

The company has earned a 51% interest and this will be retained subject to completing stage I milestones.

These include a 40 million tonnes indicated resource sufficient to support a PFS to JORC 2012 standard and completion of the PFS.

Cobalt Blue’s exploration results continue to justify proceeding further along the pathway towards commercial development of the project.

Next steps at Thackaringa

The nature and scale of further work will be determined following completion of a revised resource estimate.

The company will also deliver a scoping study by the end of March quarter 2018 and complete an aerial geophysical program.

Cobalt Blue aims to spend $2.5 million in ground by 30 June 2018 targeting indicated resources of 40 million tonnes and to deliver a PFS.

]]>
Tue, 12 Dec 2017 13:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188621/cobalt-blue-holdings-well-advanced-with-thackaringa-cobalt-project-prefeasibility-study-188621.html
<![CDATA[News - Cobalt Blue's Joe Kaderavek discusses recent developments in Proactive Q&A Sessions™ ]]> https://www.proactiveinvestors.com.au/companies/news/188485/cobalt-blue-s-joe-kaderavek-discusses-recent-developments-in-proactive-qa-sessions-188485.html Cobalt Blue Ltd's (ASX:COB) shares have tripled to around $0.57 over the past two months, as the company continues to add substantially feasibility studies centred upon its Thackaringa project in New South Wales.

The company has also been meeting with senior Korean and Japanese financial and cobalt industry teams.

Cobalt Blue has the potential to become a top five global producer of cobalt sulphate.

We are joined exclusively by chief executive officer, Joe Kaderavek, in Proactive's Q&A Sessions™ to discuss the company's recent developments.

Proactive Investors: Welcome Joe.

Proactive Investors: You previously mentioned key differences between Thackaringa and other projects, particularly laterite projects, can you elaborate?

Joe Kaderavek: Thackaringa ore is completely different to a laterite deposit. The ore is essentially 20% pyrite (sulphide) mixed with 80% quartz/feldspar.

The recent breakthrough in using simple and low-cost gravity separation technique takes advantage of the difference in weight of sulphide (hosting the cobalt) versus quartz/feldspar.

The heavy sulphide separates easily. We therefore only need to process 20% of mined ore (sulphide) in a refinery.

For laterite projects, such simple upgrading is not available and they need to process the entire ore mass through the refinery, an expensive operation consuming large quantities of acid and typically needing strong by-product credits from nickel to be profitable.

While open-pit mines will have similar mining costs per tonne of ore, Thackaringa has a clear advantage over its Australian laterite peers, because it can upgrade the low-grade ore into a concentrate, prior to incurring the high per tonne costs associated with refining.

This is summarised in the following graph which compares ore grades from Australian explorers/developers.

Most of the laterite deposits will need to refine the ore at 0.1-0.2%, whereas Thackaringa will be refining concentrate at 0.4-0.5% cobalt.

Proactive Investors: Why did you recently raise $2.5 million?

Joe Kaderavek: We received strong feedback from our recent Korean and Japanese visits. Battery makers want access to cobalt sulphate product for acceptance testing.

This ranges from small samples for purity to large scale sampling (200-300kgs) for production testing (ie: converting into a physical battery).

This approach requires the company to produce suitable amounts of test sample to engage with key global battery makers.

We decided to raise the additional funds required to make these samples.

The money was placed with high conviction (institutional quality) investors who are interested in the long term success of our business. 

Proactive Investors: Why has your share price appreciated rapidly over the last 4 weeks?

Joe Kaderavek: The recent metallurgical breakthrough has caught the markets attention.

Further, our timeline, focussed upon PFS delivered by mid-2018 is getting traction. Investors are pre-positioning their portfolios in anticipation of this event.

From our view, these new investors include long term holders and specialised resources funds, based domestically and increasingly from overseas.

Given the significant valuation difference between COB and international cobalt developers, the current discount in the stock is simply not justified.

Proactive Investors: Broker coverage has recently started for the company, why is that important?

Joe Kaderavek: Yes, Blue Oceans Equities, an institutionally focussed broking house, has drafted an initial project evaluation.

Their view is that the Thackaringa Project displays solid economics and longevity. Our ability to significantly enhance the head grade, deporting only 20% of mass to our refinery is a key catalyst.

Their research piece is available on the Cobalt Blue website ACCESS REPORT HERE.

Our processing, which is focussed upon production of elemental sulphur (not sulphuric acid) and our simple leaching (compare to a larger and more expensive High Pressure Acid Leach vessel used to process laterites) are also key positives.

They believe, based on current market prices, the company could be worth A$1.2 billion.

That’s a long way above our current A$40 million market capitalisation.

Proactive Investors: Finally, what key milestone news flow should investors look out for heading into, and during, 2018?

Joe Kaderavek: Investors can look forward to updates on the Thackaringa Drilling Program targeting a 40 million tonne Indicated Resource, as well as PFS testwork updates on the remaining parts of our processing. We expect to have our first battery quality cobalt sulphate by January.

Looking into 2018, Cobalt Blue is aiming to deliver the upgraded resource by the 1st April 2018 and then shortly thereafter a full PFS by 30 June 2018.

Proactive Investors: Thank-you Joe.

]]>
Fri, 08 Dec 2017 11:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188485/cobalt-blue-s-joe-kaderavek-discusses-recent-developments-in-proactive-qa-sessions-188485.html
<![CDATA[News - Cobalt Blue’s shares hit all time high on mineralisation continuity at Thackaringa ]]> https://www.proactiveinvestors.com.au/companies/news/188157/cobalt-blues-shares-hit-all-time-high-on-mineralisation-continuity-at-thackaringa-188157.html Cobalt Blue Holdings Ltd (ASX:COB) surged to a record high as the company received further strong drilling results from the Thackaringa Cobalt Project.

Shares increased more than 30% to $0.55 in early afternoon trade.

The flow of news is set to continue with metallurgical testwork results due shortly, centred on Calcine and Leach processing steps.

Drilling demonstrates continuity of mineralisation

Drilling results from the Railway deposit have demonstrated strong continuity of cobalt mineralisation along strike and down dip.

They also boost the potential to significantly enhance upgrading resources to the indicated category from inferred.

Best results are 72 metres at 1,115 ppm cobalt, 10.1% tin and 9.8% iron from 15 metres, and 25 metres at 1,204 ppm cobalt, 9.5% tin and 10.6% iron from 154 metres.

READ: Cobalt Blue identifies further targets at Thackaringa

There are 75 holes being drilled in the current program for a total of 13,000 metres.

The results are being compiled into an upgraded resource estimate, which is expected to be released by 1 April 2018.

Drilling will also provide geotechnical information and supply samples for metallurgical testing. 

The program at the Railway, Pyrite Hill and Big Hill deposits is 70% complete and is expected to be finished by late December.

Rob Biancardi, chairman, said: “The work continues to add substantially to our geological understanding of Thackaringa, with its significant combined strike length of 4.5 kilometres and widths varying from 25 to 100 metres.”

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

The testwork forms part of an ongoing prefeasibility study (PFS), which also includes engineering and technical studies.

The process focus is upon a mine to battery supply chain ready product and the PFS is expected by 30 June 2018.

Results continue to justify proceeding further along the pathway towards commercial development of Thackaringa.

Next steps at Thackaringa

The nature and scale of planned further work will be determined following completion of a revised mineral resource estimation.

The company will also deliver a scoping study by the end of March quarter 2018 and complete an aerial geophysical program.

By June 30 the company aims to spend $2.5 million in ground targeting indicated resources of 40 million tonnes and to deliver a preliminary feasibility study.

The Thackaringa site is close to Broken Hill, and is well connected to existing transport routes including the Barrier Highway and the Intercontinental Railway.

Availability of water and power supplies further support positive project economics. 

]]>
Mon, 04 Dec 2017 15:03:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188157/cobalt-blues-shares-hit-all-time-high-on-mineralisation-continuity-at-thackaringa-188157.html
<![CDATA[News - Cobalt Blue Holdings attracts funds to increase scale of Pre‐Feasibility Study ]]> https://www.proactiveinvestors.com.au/companies/news/187798/cobalt-blue-holdings-attracts-funds-to-increase-scale-of-prefeasibility-study-187798.html 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.

]]>
Mon, 27 Nov 2017 15:29:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187798/cobalt-blue-holdings-attracts-funds-to-increase-scale-of-prefeasibility-study-187798.html
<![CDATA[News - Cobalt Blue Holdings to reveal next funding steps for Thackaringa cobalt ]]> https://www.proactiveinvestors.com.au/companies/news/187675/cobalt-blue-holdings-to-reveal-next-funding-steps-for-thackaringa-cobalt-187675.html Cobalt Blue Holdings Ltd (ASX:COB) is set for increased news flow in the near-term as the company advances its Thackaringa drilling program which is targeting a 40 million tonne Indicated Resource.

Looking into 2018, Cobalt Blue is aiming to deliver the upgraded resource by the 1st April 2018 and then shortly thereafter a full PFS by 30 June 2018.

To continue to advance Thackaringa, the company is now preparing to reveal funding steps, with the ASX granting a trading halt to finalise.

READ: Cobalt Blue's Joe Kaderavek discusses potential Korean and Japanese partners in Proactive Q&A Sessions™

The halt will remain in place until the opening of trade on Monday 27th November 2017, or earlier if an announcement is made to the market.

]]>
Thu, 23 Nov 2017 11:26:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187675/cobalt-blue-holdings-to-reveal-next-funding-steps-for-thackaringa-cobalt-187675.html