Cobalt Blue progresses strategy to meet growing cobalt needs worldwide
- Cobalt Blue de-risks Broken Hill Cobalt Project with updated resource including nickel
- Cobalt Blue attracts interest for cobalt samples produced at Broken Hill Pilot Plant
- Cobalt Blue updates on pilot plant and production of MHP at Broken Hill
Quick facts: Cobalt Blue Holdings Ltd
Price: 0.345 AUD
Market Cap: $102.98 m
About the company
Cobalt Blue Holdings Ltd (ASX:COB) is a pure-play cobalt exploration and project development company focusing on advancing the Broken Hill Cobalt Project in New South Wales as well as downstream value-adding.
The company’s commercial aim is to make battery-ready cobalt sulphate from a new pilot facility on a scale sufficient to provide test samples for global commercial partners.
This pilot plant in Broken Hill will allow COB to produce varying specifications of cobalt products, which are in strong demand for new generation batteries, particularly lithium-ion batteries now being widely used in clean energy systems.
How it is doing
Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF) has further de-risked the Broken Hill Cobalt Project (BHCP) in Far West New South Wales with an updated mineral resource estimate that incorporates nickel.
The global mineral resource estimate now comprises 118 million tonnes at 859 ppm cobalt-equivalent (687 ppm cobalt, 7.6% sulphur and 133 ppm nickel) for 81,100 tonnes of contained cobalt at a 275 ppm cobalt-equivalent cut-off.
Significantly, measured and indicated resources make up approximately 65% of the global mineral resource.
The update takes into account base metals, some of which COB believes have the potential to be converted into an ore reserve if sufficient economic grade and quantities exist.
Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF) has received positive feedback from potential customers for the high-quality Mixed Hydroxide Product (MHP) samples produced at the Broken Hill Cobalt Project (BHCP) Pilot Plant.
The premium MHP samples produced at the plant in Broken Hill that typically range from 35-41% cobalt and 3-10% nickel are proving of significant benefit to the company’s BHCP Global Project Partner search.
Cobalt Blue Holdings Ltd (ASX:COB) (OTCMKTS:CBBHF) (FRA:COH) has received strong validation for its cobalt Global Sample Partner Program by raising A$15 million in a private placement to institutional, sophisticated and professional investors.
Firm commitments have been received for the two-tranche placement which was well supported by a number of domestic and offshore institutional investors.
Insight: Cobalt Blue attracts interest for cobalt samples produced at Broken Hill...
Cobalt Blue Holdings Ltd (ASX:COB) (OTCMKTS:CBBHF) (FRA:COH) is attracting interest from potential customers and partners as a result of the Global Cobalt Sample Program producing commercial Mixed Hydroxide Product (MHP) sourced from the Broken Hill Cobalt Project (BHCP).
This product, along with cobalt sulphate, is being produced from the company’s Pilot Plant in Broken Hill in Far West New South Wales for the sample program, which is expected to conclude early this quarter.
What management says
Cobalt Blue Holdings Ltd's (ASX:COB) (OTCMKTS:CBBHF) Joe Kaderavek tells Proactive's Andrew Scott they're producing sample scale Mixed Hydroxide Product (MHP) for the lithium-ion battery industry from its new Pilot Plant at Broken Hill in the Far West of New South Wales. The MHP, a key feedstock supplying the global lithium-ion battery industry, also has the potential to attract higher prices and is in strong demand within the industry.
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