Update on Finalisation of PFS
ASX:COB) (OTCMKTS:CBBHF) advises that it is on schedule to meet its earlier released timeline to finalise its Pre-Feasibility Study (PFS) on its Thackaringa Cobalt Project at Broken Hill NSW by 30 June 2018 and satisfy obligations under Stage Two of the agreement to secure a 70% beneficial interest in the Project. Following the finalisation of the PFS, the Company will update the market with a summary of the results of the PFS. 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.
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