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Cobalt Blue's directors demonstrate confidence in integrated cobalt strategy through SPP participation

The company is building a pilot plant to test the leaching of calcined material in two campaigns to produce 5 tonnes of concentrate.

Cobalt Blue Holdings Ltd - Cobalt Blue Holdings' board of directors demonstrate confidence in exploration and project development strategy with purchase of shares
The company is focused on the Broken Hill Cobalt Project in far west New South Wales

Cobalt Blue Holdings Ltd (ASX:COB) directors have demonstrated their confidence in the company’s integrated cobalt supply strategy by participating in a share purchase plan (SPP) that raised more than $3.577 million.

The SPP formed part of a capital raising of more than $7.328 million to assist in establishing a Broken Hill-based pilot plant with key equipment on-site and construction to begin shortly.

Cobalt Blue is on track to begin a global sample partner program from the first quarter of 2021 using cobalt samples produced at the pilot plant from Broken Hill Cobalt Project core.

Change of interests

Independent chairman Robert Biancardi purchased 40,000 shares in a direct interest on September 9, increasing the total number of securities held in the direct and two indirect interests to 3,755,111.

Chief executive officer Joe Kaderavek acquired 394,738 shares valued at $37,500 in two indirect interests at 9.5 cents per share and now holds more than 4.527 million shares in these interests.

Independent director Hugh Keller purchased 421,054 shares valued at $40,000 split equally between a direct and indirect interest, increasing the total number of securities held to 1,481,657.

Another independent director Rob McDonald boosted his holding through an indirect interest to 316,963 after acquiring 157,895 shares with a value of $15,000.

Quick facts: Cobalt Blue Holdings Ltd

Price: 0.105 AUD

ASX:COB
Market: ASX
Market Cap: $24.93 m
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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...

on 21/7/20

2 min read