Market Update – 27 December

Market Update – 27 December

Highlights

PFS – Bulk Metallurgical Testwork – Progress Update

  • Cobalt Blue has now treated 40 kg of concentrate (out of 100 kg) through the calcine furnace, and 8 kg of calcine (out of 80 kg) through the leach circuit. Work is continuing into Q1 2018 to complete the testing of the calcine and leach unit operations.
  • Recovery of elemental sulphur from the calcine furnace graded 97.5% sulphur, with no cobalt losses.
  • Leach recoveries have typically ranged from ~70% to 96%, depending on the conditions employed. Further work is continuing to optimise the parameters.
  • Recent funds raised by placement on 27 Nov 2017, has enabled the Company to double the quantity of cobalt ore being tested (additional 500–600 kg of ore at ~1000 ppm cobalt) in the current PFS program.

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