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.
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.
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.
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.