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Cobalt Blue will acquire 100% ownership and legal title of Broken Hill Cobalt Project

Cobalt Blue Holdings Ltd (ASX:COB) will acquire 100% ownership and legal title of the Broken Hill Cobalt Project as part of an agreement with Broken Hill Prospecting Ltd (ASX:BPL).

The two companies have executed a binding Heads of Agreement (HOA) which will result in dissolution of the Thackaringa Joint Venture (TJV) and provide COB with full control and continuing management of the project.

This agreement follows the Independent Expert Determination on Monday that confirmed that COB and BPL have 70:30 respective interests in the project.

Catalyst for discussions
COB and BPL have used the determination as a catalyst for discussion resulting in the HOA.

The suspension of trading in COBs securities has now been lifted with shares up 21% to 17 cents.

Both companies said they were delighted that a commercial outcome had been reached that would allow the development of the project with benefits accruing to shareholders of both companies.

The Broken Hill Cobalt Project, which was form..

Cobalt Blue Holdings Ltd (ASX:COB) will acquire 100% ownership and legal title of the Broken Hill Cobalt Project as part of an agreement with Broken Hill Prospecting Ltd (ASX:BPL).

The two companies have executed a binding Heads of Agreement (HOA) which will result in dissolution of the Thackaringa Joint Venture (TJV) and provide COB with full control and continuing management of the project.

This agreement follows the Independent Expert Determination on Monday that confirmed that COB and BPL have 70:30 respective interests in the project.

Catalyst for discussions

COB and BPL have used the determination as a catalyst for discussion resulting in the HOA.

The suspension of trading in COBs securities has now been lifted with shares up 21% to 17 cents.

Both companies said they were delighted that a commercial outcome had been reached that would allow the development of the project with benefits accruing to shareholders of both companies.

The Broken Hill Cobalt Project, which was formerly known as the Thackaringa Cobalt Project, is west of Broken Hill in the far west of NSW.

Agreement terms

Under the binding HOA BPL will receive:

  • $500,000 cash;
  • 9 million COB fully paid ordinary shares at a deemed issue price of 15 cents per share;
  • $1 million three-year convertibRead 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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