logo-loader
viewCobalt Blue Holdings Ltd

Cobalt Blue CEO demonstrates confidence in integrated cobalt supply strategy with on-market purchases

Joe Kaderavek has this week purchased 45,000 shares taking his total holding to more than 4.132 million in three indirect interests.

Cobalt Blue Holdings Ltd - Cobalt Blue CEO demonstrates confidence in integrated cobalt supply strategy with on-market purchases
The company is gearing up to produce premium battery-ready cobalt sulphate

Cobalt Blue Holdings Limited’s (ASX:COB) chief executive officer Joe Kaderavek has demonstrated his support for the company’s integrated cobalt supply strategy through on-market share purchases.

On July 22, the CEO acquired 45,000 shares in on-market transactions in an indirect interest at an average price of 11 cents per share.

This has taken his holding in this interest to almost 2.466 million shares with another 1,666,667 shares held in two other interests.

Since June 29 shares have traded in the range of 9 cents to 12 cents and are today trading at 11 cents.

Project enhancements

Cobalt Blue has recently delivered project enhancements for the Broken Hill Cobalt Project (BHCP) in far west NSW, from which it is targeting the ethical production of high-grade, battery-ready cobalt sulphate.

A Project Update 2020 Study demonstrates “a capital-efficient, low-cost, long-life mine/refinery making a premium battery-ready product in a safe and stable jurisdiction”.

It also reveals that COB is the largest undeveloped cobalt producer in the world outside Africa.

BHCP’s ore reserve has increased 55% to 71.8 million tonnes at 710ppm cobalt in the probable category with contained cobalt up by 34% to 51,000 tonnes.

The update follows news that tests on BHCP ore achieved a series of product benchmarks for cobalt sulphate, elemental sulphur and mixed hydroxide precipitate, which will be used for offtake marketing purposes with commercial customers.

This test program produced 20.8% cobalt sulphate suitable for the lithium-ion battery market with the added benefit to BHCP economics of 99% grade sulphur.

Quick facts: Cobalt Blue Holdings Ltd

Price: 0.105 AUD

ASX:COB
Market: ASX
Market Cap: $16.79 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Cobalt Blue Holdings Ltd named herein, including the promotion by the Company of Cobalt Blue Holdings Ltd in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Cobalt Blue's Ian Pringle outlines significant enhancements for Broken Hill...

Cobalt Blue Holdings Ltd's (ASX:COB) Dr Ian Pringle discusses with Proactive's Andrew Scott significant project enhancements for the Broken Hill Cobalt Project (BHCP) in far west NSW. A Project Update 2020 Study has reveals a 'capital-efficient, low-cost, long-life mine/refinery making a premium...

2 weeks, 2 days ago

2 min read