Releases Quarterly Results and Completion of Successful China Visit to Chinese Cobalt and Battery Producers
COB management believes there are enormous benefits to co-operation, for example deploying best in class technologies to achieve high yield, low cost extraction processes. The team were very impressed by Chinese research and development efforts, particularly focussed upon cobalt salt production from sulphide materials (such as Cobalt Blue). Further, plant design and state of the art process control allow for efficient processing of very high material volumes.
From their viewpoint, Chinese refineries are looking for diversification away from an increasing dependency on sourcing cobalt from the African copper belt. The collective view was that current pricing (approx. US$25/lb) was sustainable, with all industry participants making a good margin. However, further upward price pressure may cause battery makers to "thrift" and use lower cobalt content cathodes in response.
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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