Cobalt Blue Releases Annual Report, Highlights Broken Hill Cobalt Project Significant Developments

2 min read | September 11, 2020 12:44 PM AEST | By Team Kalkine Media

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Australian exploration and development company, Cobalt Blue Holdings Limited (ASX: COB) has released annual report for the financial year ended on 30 June 2020. During the year, the company progressed towards the commercial development of wholly owned Broken Hill Cobalt Project (BHCP) while also leveraging the propriety COB Processing Technology.

Here are the major highlights of FY20

A sulphur marketing agreement executed with Mitsubishi Corporation
Expanded the BHCP area by 50% with EL8891 granted
Secured funding worth AU$2.41 million from the Australian Government’s CRC Projects Program to develop and optimise the cobalt-pyrite ore beneficiation process
Joined the Future Battery Industries – Cooperative Research Centre, a 5-year research and development program to facilitate Australia as a globally significant battery precursor supplier
Delivered a Conceptual Project Development Plan for BHCP, with the formal application process commenced
Mixed Hydroxide benchmark product set at 37% cobalt and 7% nickel, well above the industry standard (30% cobalt)
Test work program: delivered a (20.8% cobalt) cobalt sulphate test sample against the global benchmark (20.5% cobalt)
Sharing Prilled Sulphur products for broader commercial evaluation
Stronger ties with industry premiers and commercial partner LG International while relationships continue to grow with key cobalt consuming nations of Korea, Japan, Europe and India
Completed an optimisation study enhancing the project economics
Advancing on the installation and commencement of the pilot plant

COB traded at AU$0.095 on 11 September 2020, with a market capitalisation of AU$22.56 million.

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