viewCobalt Blue Holdings Ltd

Cobalt Blue and Broken Hill Prospecting complete cobalt project transaction

The company has secured 100% ownership in the Broken Hill Cobalt Project, formerly known as the Thackaringa Cobalt Project.

Cobalt Blue Holdings Ltd - Cobalt Blue and Broken Hill Prospecting complete cobalt project transaction
The project is near the traditional mining centre of Broken Hill

Cobalt Blue Holdings Ltd (ASX:COB) has issued 9 million shares to Broken Hill Prospecting Ltd (ASX:BPL) as part of the deal to secure 100% ownership of the Broken Hill Cobalt Project.

The transaction will also see a $1 million convertible note issued to BPL.

The relevant title transfer documents are now with the NSW Department of Planning & Environment for approval.

BPL’s ownership and legal title of the Broken Hill Cobalt Project will be transferred but it will retain a net smelter return royalty of 2% on all cobalt production from the project.

Proactive recently caught up with Cobalt Blue recently for an update.

Quick facts: Cobalt Blue Holdings Ltd

Price: 0.115 AUD

Market: ASX
Market Cap: $18.39 m

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