Cobalt Blue Quarterly Report – March 2018

Thackaringa remains on target to become a world class cobalt project with recent metallurgical testwork highlighting 88% cobalt recoveries from ore to payable product.

Quarterly highlights:

Projects

Thackaringa Project
  • Delivered Indicated Resource Project.
  • Bulk Testwork – Calcine and Leach Update.
  • COB on target to deliver PFS by 30 June 2018.

Cobalt Trends

  • Electric Vehicle Update – battery costs remain key to uptake.

Corporate

  • Stage One Achieved – COB has retained 51% of the beneficial interest of the Thackaringa Project. Milestone announced 20 April 2018.
  • Asian Commercial Visit
  • LGI Deal signed – As announced on 23 March 2018, on 16 April 2018 a cash share placement totalling A$ 7.8 million (US$ 6.0 million equivalent) at A$1.10 each share was made by COB to LG International.
  • HAV MOU Signed
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