Cobalt Blue Holdings Limited (ASX:COB) and CuDeco Limited (ASX:CDU) announce that they have entered into a Memorandum of Understanding (MOU), an important stepping stone to determine if the cobalt-pyrite at the Rocklands project can produce cobalt products and create additional revenue for both companies.
MOU KEY POINTS:
- CDU would like to explore opportunities to monetise the cobalt-pyrite concentrate produced from the flotation concentrator circuit at the Rocklands project and will provide COB a representative 5–15 kg cobalt-pyrite sample.
- COB will perform laboratory test-work using the proprietary technology it has developed with results due within 12 weeks of receiving the sample.
- After reviewing the test results, COB and CDU will discuss what further cooperation involving marketing/processing contracts or joint venture development of cobalt products both locally and overseas may be possible.