SMM7, July 4 / PRNewswire-FirstCall-Asianet /, Cobalt Blue Holdings Limited (announced the first ore reserve statement and pre-feasibility study report (PFS) of the Thackaringa Cobalt Project.

In addition, Cobalt Blue will review four aspects of the financing Feasibility study:

1. optimize the treatment and storage of plant tailings: in PFS, tailings management amounts to A $260 million throughout the project cycle, including capital and operating costs. A review study will be conducted in the third quarter of 2018 to identify possible cost-saving measures.

2. optimization of metal recovery: the design standards used during PFS are based on batch testing. Larger tests will be carried out during BFS, including circular flow, which can increase the overall metal recovery rate.

3. optimizing the average electricity price: PFS estimates that about 22 per cent of mine cash spending each year is related to electricity consumption (the national electricity market). When the price of the national electricity market reaches a short-term peak, consider using on-site standby power (large-scale batteries) and the operation principle of processing equipment to limit consumption-intermittent peak pricing usually lasts no more than 30 minutes.

IV. opportunity to extend the life of the mine: the amount of ore of the presumed level is extracted from resources other than known resources and Thackaringa, and the life of the project may be extended by treating the ore. This shows that if the development of Thackaringa project, Cobalt Blue will have the opportunity to achieve a significant rate of return on capital.

Rob Biancardi, Chairman of Cobalt Blue, said: "We are pleased to announce the PFS results of the world-class Thackaringa Cobalt Project. PFS demonstrates COB's potential to become the world's leading supplier of cobalt sulfate to the lithium-ion battery industry. The project will now enter the financing feasibility study phase. Further resource work will aim for a mine life of 20 years, as the production target is limited to less than 13 years. "

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