Early stageA spin-off from Broken Hill Prospecting that is...

Early stageA spin-off from Broken Hill Prospecting that is understood to have raised its IPO maximum of $10 million, Cobalt Blue is due to start trading on the ASX on January 31 following a delay after the ASX demanded an upgraded resource assessment. That has been provided in a replacement prospectus lodged with the Australian Securities and Investments Commission. The shares were sold at 20¢ apiece.The Thackaringa project hosts an inferred resource of 33.1 million tonnes at 833 parts per million of cobalt, and an exploration target of 40 million-66 million tonnes at 600-900 ppm. Its location on the outskirts of Broken Hill ensures access to skilled mine workers, electricity and water supplies and close access to a railway that would take product 400km to Port Pirie in South Australia for eventual export.The venture is, however, at an early stage, with management aiming to have a bankable feasibility study for the project and all approvals in place by July 2019. Two years of engineering, development and construction would follow.Chairman Rob Biancardi has carefully been forging relations with potential end customers, including Tesla, which hosted the launch of Cobalt Blue's IPO at its sleek showroom in Sydney's Martin Place. QUOTE from the initial launch in the AFR
With the 32+ partners in mind I forgot that the company was helped by Tesla to launch Cobalt Blue’s story at the new showroom in Martin Place. There is so much interest now many companies will be deciding their respective positions, with a number of scenarios to play out over the next few months starting to get interesting IMO.