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 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.
Cobalt Blue Holdings Limited