Cobalt Blue Holdings Limited: Thackaringa JV Update
Sydney, Australia - Cobalt Blue Holdings Ltd. (ASX:COB) (OTCMKTS:CBBHF) advises that a Thackaringa Joint Venture (TJV) Management Committee meeting was held on 16 November 2018 with representatives from joint venture partner Broken Hill Prospecting Ltd. (ASX:BPL). This meeting followed on from an informal meeting held last week with BPL representatives at the time the TJV Management Committee meeting was adjourned due to lack of a quorum.Work programmes, including the drilling campaign currently being conducted on site, were discussed and approved by the TJV Management Committee at the 16 November 2018 meeting. The Management Committee discussed, but did not propose any resolution to appoint a new JV Manager. As Clause 7.5(c) of the TJV Agreement mandates that the Joint Venturer holding the largest Joint Venture Interest must act as Interim Manager until a new Manager is appointed, COB will continue to perform the duties of Manager for the TJV and to supervise the Joint Venture activities and Drilling Campaign currently being undertaken at Thackaringa.
About Cobalt Blue Holdings Limited:
Cobalt Blue Holdings Ltd. (ASX:COB) is an exploration and project development company focussed on green energy technology and strategic development to upgrade its mineral resource at the Thackaringa Cobalt Project in New South Wales from Inferred to Indicated status. This strategic metal is in strong demand for new generation batteries, particularly lithium-ion batteries now being widely used in clean energy systems.
COB is in a Joint Venture (70% interest) with Broken Hill Prospecting Ltd. (ASX:BPL) (30% interest) to develop the Thackaringa Cobalt Project.
Potential to extend the Mineral Resource at Pyrite Hill, Big Hill, Railway and the other prospects is high. Numerous other prospects within COB’s tenement package are at an early stage and under-explored.
Source:
Cobalt Blue Holdings Ltd.
Contact:
Robert J Waring Company Secretary Cobalt Blue Holdings Ltd. Ph: +61-2-8287-0660 Website: www.cobaltblueholdings.com Email: info@cobaltblueholdings.com