Cobalt Blue Holdings Limited Stock Market Press Releases and Company Profile

View in Other Languages Cobalt Blue Holdings Limited (ASX:COB) 宣布與LG的戰略合作夥伴關係 Cobalt Blue Holdings Limited (ASX:COB) 宣布与LG的战略合作伙伴关系 Cobalt Blue Holdings Limited (ASX:COB) LG Strategic Partnership Announced 
LG Strategic Partnership Announced
LG Strategic Partnership Announced

Sydney, Mar 23, 2018 AEST (ABN Newswire) - Cobalt Blue (googlechartASX:COB) (googlechartCBBHF:OTCMKTS) is proud to announce a strategic First Mover partnership with LG International (LGI), the resources investment arm of LG Corporation, acting in cooperation with LG Chem.

- LG Chem is one of the largest lithium ion battery makers in the world. LG Chem possesses strong technical leadership in the development of next generation batteries, in particular for fixed storage and Electric Vehicles (EVs). LG Chem is one of the leading EV battery makers globally.

- Under the First Mover partnership LG will provide capital and technical assistance for Cobalt Blue to make a high purity battery grade cobalt sulphate.

- Cobalt Blue has executed a binding term sheet with LGI to raise gross proceeds of US$6.0m with the transaction to be completed by Monday 16 April 2018, subject to the requirements of the ASX Listing Rules and Corporations Act 2001 (Cth). COB will issue shares at A$1.10 per share (representing a 15% premium to the 30-day VWAP of A$0.954) for the number of shares equivalent to the USD/AUD conversion on the day when the funds are received in COB's nominated bank account. A maximum of 14,000,000 shares may be issued, as approved on 25 January 2018 by COB's members.

Cobalt Blue's Chief Executive Officer, Joe Kaderavek said:

" COB is excited to find a high quality partner in LG and assist them in sourcing long term supply of battery ready cobalt. The technical competence of LG business is world class and this partnership will add significantly to our project."

Cobalt Blue's Chairman, Rob Biancardi said:

" This is an important event for Cobalt Blue and it's shareholders. It demonstrates that the Thackaringa Project is unique and is one the most advanced Cobalt projects of its type in the world."

Harp Capital of Toronto is the advisor to Cobalt Blue.

Cobalt Blue - our market strategy

Our strategy is focused upon maximising the payable cobalt whilst participating in the strong growth of the lithium ion battery market. Unlike the traditional cobalt mining model, Cobalt Blue is an integrated refinery model delivering battery grade cobalt sulphate at a premium to the cobalt price.

Cobalt sulphate specifications, however, are evolving rapidly as a result of consumer demand. This segment is forecast to expand by >300% over the next decade and become one of the dominant drivers of the cobalt market. COB is seeking to produce premium cobalt sulphate that is suitable for tomorrow's battery requirements and we believe that LG Chem represents a strong partner in our story.

COB believes that the Thackaringa Cobalt Project will be in production at a point in time when the current suite of cobalt centred projects (predominantly out of Africa) will be at full production and an emerging deficit will begin to form.

About LG International (KRX:001120)

LG International executes resources investment strategy for the LG Group. Historically, LG International has specialised in global mining investment and operations. LG International has now extended its focus to include 'Green Minerals', the raw materials of lithium-ion battery construction such as cobalt, nickel and lithium. LG International operates in close cooperation with LG Chem to secure Green Minerals for the LG Group.

About LG Chem (KRX:051910)

LG Chem, Ltd. is Korea's largest diversified chemical company which operates three main business units: Petrochemicals, IT & Electronic Materials and Energy Solutions. The company was founded in 1947 and now employs over 29,000 staff globally. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as electronic materials and lithium ion batteries. With over 20 years' experience of development and production of these batteries LG Chem has established themselves as one of the world's leading Lithium-ion manufacturers. The company is a primary supplier of lithium batteries throughout the world for the mobile phone and hybrid/ electric vehicle industries & Energy Storage System (ESS).

Thackaringa Project timetable

Results to date continue to justify proceeding further along the pathway towards commercial development of the Thackaringa Cobalt Project. The overall company timeline is shown in link below.

The Thackaringa Cobalt Project site and potential services are shown below. The site is situated close to Broken Hill and is well connected to existing transport routes including the Barrier Highway and the Intercontinental Railway. Availability of water and power supplies further support positive project economics.

To view figures, please visit:
http://abnnewswire.net/lnk/O07F51IX


About Cobalt Blue Holdings Limited

Cobalt Blue Holdings LtdCobalt Blue Holdings Ltd (ASX:COB) (FRA:COH) (OTCMKTS:CBBHF) is an exploration and project development company. Work programs advancing the Broken Hill Cobalt Project in New South Wales continue. Our ambitious goals are subject to funding availability. Cobalt is a strategic metal in strong demand for new generation batteries, particularly lithium-ion batteries now being widely used in clean energy systems.

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Contact

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



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