Quarterly Activities and Cashflow Reports September 2016
Sydney, Oct 31, 2016 AEST (ABN Newswire) - Broken Hill Prospecting Ltd (
ASX:BPL) announce the Quarterly Activities and Cashflow Reports for the period ending September 2016.
Projects
Thackaringa Cobalt | Broken Hill, NSW
- Final regulatory approvals expected very soon for 1000m diamond drill metallurgical test program
- Planned drilling program hampered by above average wet weather
- Infill and expansion drilling to upgrade resource to JORC 2012 standard
- Cobalt price increase reflects ethical supply concerns as Lithium-ion battery technology accelerates
- Market demand forecasts show average annual cobalt consumption growth of 5.1% to 2020
Heavy Mineral Sands | Murray Basin, NSW
- Total resource inventory of 29.2Mt at 5.1% THM1 (Copi North & Magic Deposits)
- Copi North Pre-feasibility study commenced with positive early results from bulk metallurgical testing
- Relentless Resources (RRL) provide final $0.5m payment to earn 50% interest in HMS Projects (Copi North, Magic & Sunshine)
Corporate
- Ian Morgan appointed as Company Secretary
- Share Purchase Plan raises A$746,086.25 with high demand for exposure to cobalt assets
- Cobalt Blue Holdings Ltd incorporated on 26 August 2016 to drive future development of cobalt assets
To view the full quarterly report, please visit:
http://abnnewswire.net/lnk/8858L7F9
About Broken Hill Prospecting Ltd
Broken Hill Prospecting Ltd (ASX:BPL) is an Australian exploration company focussed on the discovery and development of strategic mineral resources across two primary geographical areas; the Murray Basin Region (Heavy Mineral Sands) and the Broken Hill Region (industrial, base and precious metals, including the Thackaringa Cobalt & Base/Precious Metal Project).
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