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Broken Hill Prospecting agrees terms with Cobalt Blue for Broken Hill Cobalt Project

Broken Hill Prospecting Ltd (ASX:BPL) has agreed on terms for Cobalt Blue Holdings Ltd (ASX:COB) to acquire 100% ownership and legal title of the Broken Hill (Thackaringa) Cobalt Project.

The binding Heads of Agreement (HOA) executed between the two companies follows an Independent Expert Determination on Monday that confirmed the 30:70 respective interests in the project.

This determination has been the catalyst for further discussions between the parties with the HOA to result in the dissolution of the Thackaringa Joint Venture which holds the project.

“Delighted” with commercial outcome
BPLs shares increased almost 15% in early trade to 3.1 cents and the company said it was delighted that the parties had reached a commercial outcome.

This would “allow the development of the project with benefits accruing to shareholders of both companies”.

The agreement will provide COB with full control and continuing management of the project, which is near the traditional mining centre of Br..

Broken Hill Prospecting Ltd (ASX:BPL) has agreed on terms for Cobalt Blue Holdings Ltd (ASX:COB) to acquire 100% ownership and legal title of the Broken Hill (Thackaringa) Cobalt Project.

The binding Heads of Agreement (HOA) executed between the two companies follows an Independent Expert Determination on Monday that confirmed the 30:70 respective interests in the project.

This determination has been the catalyst for further discussions between the parties with the HOA to result in the dissolution of the Thackaringa Joint Venture which holds the project.

“Delighted” with commercial outcome

BPLs shares increased almost 15% in early trade to 3.1 cents and the company said it was delighted that the parties had reached a commercial outcome.

This would “allow the development of the project with benefits accruing to shareholders of both companies”.

The agreement will provide COB with full control and continuing management of the project, which is near the traditional mining centre of Broken Hill in the far west of NSW.

HOA terms

Under the binding agreement BPL will receive:

  • $500,000 cash;
  • 9 million COB fully paid ordinary shares for 15 cents per share;
  • $1 million three-year convertible note at interest of 6% perRead More – Source

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Australia

European Metals inks deal with CEZ for 51% of Cinovec

European Metals Holdings Ltd (LON:EMH) shares advanced in Thursdays early deals as it confirmed an agreement that sees state-owned CEZ receive the option to invest €34.06mln and take a 51% stake in the companys Czech subsidiary Geomet.

The Czech unit holds the Cinovec asset which is described as a “globally significant lithium project”, as it is presently the largest known lithium resource in Europe.

CEZ has exclusivity during the option period and the completion of the proposed investment is contingent upon due diligence, approval at AGM/EGM, agreement over future work programmes and budgets along with agreement over a new management team (including a chief executive and chief operating officer for Geomet).

READ: European Metals agrees terms for sale of majority of Cinovec[hhmc]
In a document sent to its shareholders, European Metals said: “The company considers that CEZ group is an ideal strategic and financial partner for the Cinovec project.

“In addition to CEZ's financial..

European Metals Holdings Ltd (LON:EMH) shares advanced in Thursdays early deals as it confirmed an agreement that sees state-owned CEZ receive the option to invest €34.06mln and take a 51% stake in the companys Czech subsidiary Geomet.

The Czech unit holds the Cinovec asset which is described as a “globally significant lithium project”, as it is presently the largest known lithium resource in Europe.

CEZ has exclusivity during the option period and the completion of the proposed investment is contingent upon due diligence, approval at AGM/EGM, agreement over future work programmes and budgets along with agreement over a new management team (including a chief executive and chief operating officer for Geomet).

READ: European Metals agrees terms for sale of majority of Cinovec[hhmc]

In a document sent to its shareholders, European Metals said: “The company considers that CEZ group is an ideal strategic and financial partner for the Cinovec project.

“In addition to CEZ's financial strength, the Board believes that CEZ provides strong strategic relationships within the Czech Republic, the European Union and abroad.

“CEZ is a leader in power generaRead More – Source

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Australia

Argosy Minerals plans first trial lithium carbonate shipment in early 2020

Argosy Minerals Limited (ASX:AGY) is scheduling a preliminary trial cargo of about 5 tonnes of high-quality lithium carbonate produced from its industrial-scale pilot plant operations in Argentina for shipment early next year.

This trial cargo will deliver into the sales agreement for product from the Rincon Lithium Project which was executed in March 2019.

High-quality product
It comes as the company is achieving consistent high-quality lithium carbonate product from the pilot plant at the project, with results reaching up to 99.8% lithium carbonate content.

This content also has very low impurity levels, including no detected iron or other magnetic materials based on regular sample lot testing using the companys on-site laboratory.

“Excited” at pending shipment
Argosy managing director Jerko Zuvela said, “We are excited at the pending maiden shipment of high-quality lithium carbonate produced from our Rincon Lithium Project and confirming our status as the first LCE producer from..

Argosy Minerals Limited (ASX:AGY) is scheduling a preliminary trial cargo of about 5 tonnes of high-quality lithium carbonate produced from its industrial-scale pilot plant operations in Argentina for shipment early next year.

This trial cargo will deliver into the sales agreement for product from the Rincon Lithium Project which was executed in March 2019.

High-quality product

It comes as the company is achieving consistent high-quality lithium carbonate product from the pilot plant at the project, with results reaching up to 99.8% lithium carbonate content.

This content also has very low impurity levels, including no detected iron or other magnetic materials based on regular sample lot testing using the companys on-site laboratory.

“Excited” at pending shipment

Argosy managing director Jerko Zuvela said, “We are excited at the pending maiden shipment of high-quality lithium carbonate produced from our Rincon Lithium Project and confirming our status as the first LCE producer from Salta Province in Argentina.

“It is another strong endorsement for Argosy, the Rincon Lithium Project and our fast-track development strategy toward commercial LCE production.”

The quality of the upcoming trial cargo is expected to exceed the specifications/Certificate of Analysis set out in the sales agreement.

Pre-shipment samples will be provided prior to full delivery for confirmation purposes.

Sales price formula

The sales price for each cargo will be determinedRead More – Source

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Australia

9 Spokes confirms Bank of America platform is live

9 Spokes International Ltd (ASX:9SP) has confirmed the Bank of America platform is live and available to small business customers.

The Bank of America platform, which is powered by 9 Spokes leverages the latest architectural approaches enabling an accelerated and sustained roll-out of new apps and features.

It responds to bank partners and their SB customers evolving needs by harnessing data from connected business apps and provides richer context on how their business is performing.

The platform is set to roll out in stages across the US.

Background
9 Spokes is a business tracking and insights tool that enables small to medium businesses to harnRead More – Source

9 Spokes International Ltd (ASX:9SP) has confirmed the Bank of America platform is live and available to small business customers.

The Bank of America platform, which is powered by 9 Spokes leverages the latest architectural approaches enabling an accelerated and sustained roll-out of new apps and features.

It responds to bank partners and their SB customers evolving needs by harnessing data from connected business apps and provides richer context on how their business is performing.

The platform is set to roll out in stages across the US.

Background

9 Spokes is a business tracking and insights tool that enables small to medium businesses to harnRead More – Source

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