Quarterly Activities and Cash Flow Reports September 2017
September 2017 - Highlights
- Commenced Pre-Feasibility Study (PFS).
- Aerial geophysical survey launched and subsequently completed over the entirety of the Thackaringa tenements (EL6622, EL8143, ML86 & ML87).
- Thackaringa Drilling Campaign - 40Mt Indicated Resource Target - rigs mobilised to site.
- PFS Metallurgical Testwork has now commenced. The testwork will be centred on treating ~800 kg of ore through the proposed process: concentration; thermal treatment; leaching; and product recovery.
- Thrifting - Battery makers are "thrifting" (lowering) cobalt content in the cathode. This is a natural consequence in the face of stronger for longer cobalt pricing.
- Energy Density - Higher (cobalt based) energy density batteries are entering the market increasing Electric Vehicle (EV) range and usability.
- Fast Charge/Discharge - Battery makers are developing semi-solid and solid electrolytes supporting faster charge/discharge cycles - the goal is to fully charge an EV in 5 minutes.
- COB's strategy is to produce a battery grade product required, not today, but rather where demand will be in the future, as these market and enabling technology trends rollout.
- Amended JV Agreement announced. Stage One is due for completion by 1 April 2018 followed shortly after by Pre-Feasibility Study delivery (30 June 2018).
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About Cobalt Blue Holdings Limited
Cobalt Blue Holdings Ltd (ASX:COB) is an exploration company focussed on green energy technology and a strategy of fast-tracking development of the Thackaringa Cobalt Project in New South Wales to achieve commercial production of cobalt. This strategic metal is in strong demand for new generation batteries, particularly lithium-ion batteries now widely used in clean energy systems.
COB has entered into a farm-in joint venture agreement with Broken Hill Prospecting Limited (“BPL”) in which COB seeks to acquire an initial 51% interest in the Thackaringa Cobalt Project. COB will undertake exploration and development programs on the Thackaringa Cobalt Project and, subject to the achievement of milestones, will acquire 100% of the Thackaringa Cobalt Project.
Cobalt Blue Holdings Limited