Cobalt Blue seeks to reassure investors on Thackaringa BFS timing
ASX-listed explorer Cobalt Blue on Wednesday moved to reassure investors about the timeline for the Thackaringa joint venture (JV) project, a day after CEO Joe Kaderavek said in a letter to shareholders that an independent review has concluded that more pre-bankable feasibility study (BFS) testwork is required.
The company’s stock has taken a knock over the past two days, shedding about a third of its value to trade at A$0.30 apiece on Wednesday, down from A$0.45 a share on Monday.
Engineering firm Wood, which was appointed to provide an independent review of the Thackaringa prefeasibility study, has identified technical areas where further work is required before the engineering study component of the BFS could start. The additional pre-BFS work and studies will take about 24 months to complete.
Cobalt Blue noted that it was examining, through internal studies, a number of alternative processing pathways to cash flow through the production of different cobalt end products. One of these internal studies involves a simple cobalt concentrate, a study that can be delivered by mid-2019 to the JV. Depending on which alternative is accepted, the timing of delivery of the BFS may differ from the June 30, 2019 date originally anticipated.
Cobalt Blue stressed, on Wednesday, however, that its desire remained to finalise the BFS in “as short a period as possible”, with the aim of making an investment decision by mid-2020.
The Thackaringa project covers an area of 63 km2 and is located in western New South Wales.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...
VISIT SHOWROOM
The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
