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Cobalt Blue Holdings Limited (ASX:COB) provides the Company's Quarterly Activities and Cash Flow Reports.

December 2017 - Highlights

Projects

Thackaringa Project

- Thackaringa Drilling Campaign - 40Mt Indicated Resource Target - drilling completed, assays returned, undergoing resource modelling and upgraded estimate.

- Pre-Feasibility Study (PFS) work continues on bulk metallurgical test work, environmental, geotechnical and hydrogeological studies. PFS remains on track for delivery by 30 June 2018

- Cobalt Blue has now treated 40 kg of concentrate (out of 100 kg) through the calcine furnace, and 8 kg of calcine (out of 80 kg) through the leach circuit. Work is continuing into Q1 2018 to complete the testing of the calcine and leach unit operations.

- Recent funds raised by placement on 27 Nov 2017, has enabled the Company to double the quantity of cobalt ore being tested (additional 500-600 kg of ore at ~1000 ppm cobalt) in the current PFS program. This testwork will generate small scale commercial samples as part of COB's acceptance testing program with battery makers.

- Aerial geophysical survey launched and subsequently completed over the entirety of the Thackaringa tenements (EL6622, EL8143, ML86 & ML87). Awaiting final report.

Cobalt Trends

- Strong Cobalt Market Pricing continues - market deficits continue with the cobalt price up 126% over CY2017 to US$34/lb.

- Electric Vehicle (EV) pricing will start be similar to Internal Combustion Engine Vehicles by 2025F, with most EVs at price parity by 2029F.

- Thrifting - Battery makers continue to "thrift" (lowering) cobalt content in the cathode.

Corporate

- Thackaringa JV milestones remain on track. Resource upgrade expected by end of February followed by PFS 30 June 2018.

- Cobalt Blue's quoted options (COBO) each offer the right to be issued one ordinary fully paid Company share for A$0.25 each, expiring 2 May 2020. The latest COB share price is A$0.77 (23 January 2018).

- Placement - Cobalt Blue successfully raised (27 November 2017) A$2.5m gross proceeds by issuing 11.4m shares and 2.8m options (Strike $0.25 Expiry 2 May 2020).

To view the full report, please visit:
http://abnnewswire.net/lnk/WQL7GQ2E


About Cobalt Blue Holdings Limited

Cobalt Blue Holdings Ltd (ASX:COB) is an exploration and project development company focussed on green energy technology and strategic development to upgrade its mineral resource at the Thackaringa Cobalt Project in New South Wales from Inferred to Indicated status. This strategic metal is in strong demand for new generation batteries, particularly lithium-ion batteries now being widely used in clean energy systems.

COB is in a Joint Venture (70% interest) with Broken Hill Prospecting Limited (ASX:BPL) (30% interest) to develop the Thackaringa Cobalt Project.

Potential to extend the Mineral Resource at Pyrite Hill, Big Hill, Railway and the other prospects is high. Numerous other prospects within COB’s tenement package are at an early stage and under-explored.

   

Contact

Joe Kaderavek
Chief Executive Officer
Cobalt Blue Holdings Limited
Ph: +61-2-9966-5629
Website: www.cobaltblueholdings.com
Email: info@cobaltblueholdings.com



Link: Quarterly Activities and Cash Flow Reports Dec 2017



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Related Industry Topics:
Metals Materials General Mining Mineral Sands Cobalt

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