Up 14% yesterday.. Was 3.3 cents 10 odd days ago. That is nearly...

Up 14% yesterday..

Was 3.3 cents 10 odd days ago. That is nearly a 50% rise and nobody cares. Well I am happy there must be a few others. I thought BlueS would of had some comment on this.



I finally found what I was looking for... Our 49% of is worth a few dollars.




Another important part of the spin-off was that BPL entered a detailed farm-in joint venture agreement with COB to finance and undertake an extensive exploration and development program at Thackaringa. COB can earn 100% of the project if it completes a set of milestones before 30 June 2020. There are four stages to the farm-in.





 Stage 1 requires at least $2 million to be spent on an approved, in-ground exploration program to define an Inferred Mineral Resource of 100 Mt and completion of a Scoping Study by 30 June 2017. In addition, COB will make an $800,000 payment to hold a 51% beneficial interest in the project.

 Stage 2 requires COB to fund a minimum $2.5 million in-ground exploration program to define an Indicated Mineral Resource and complete a Pre-feasibility Study of the technical, commercial and economic feasibility of development and mining of cobalt by 30 June 2018.

That work would earn COB an additional 19% interest.

 Stage 3 stipulates COB can earn a further 15% interest in by 30 June 2019 if it spends a minimum $5 million on an in-ground exploration program to define a Measured Mineral Resource and Ore Reserve and complete a Bankable Feasibility Study.

 Stage 4 enables COB to earn the final 15% interest in Thackaringa if it makes a decision to mine; procures necessary project approvals including financing; achieves financial close; and pays BPL $7.5 million in cash no later than 30 June 2020.

BPL has also been granted a 2% net smelter royalty on all cobalt produced from the Thackaringa tenements for the life of the mine. It retains the base and precious metal exploration rights over the tenements, where it has previously actively explored for Broken Hill style mineralisation.