Sign up Australia
Proactive Investors - Run By Investors For Investors

Cobalt Blue Holdings well advanced with Thackaringa Cobalt Project prefeasibility study

The results have been positive and the study is on track for completion by 30 June 2018.
Drill rig
Exploration results continue to justify proceeding towards commercial development

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 PreFeasibility 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.

View full COB profile View Profile

Cobalt Blue Holdings Ltd Timeline

Related Articles

July 13 2018
AfriTin listed on AIM with plans to position itself as the African tin champion
June 16 2018
The company aims to begin drilling in summer 2018.
March 22 2018
Lithium and tungsten have been to the fore of late, but there are plenty of other strings to Premier African's bow

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use