Thackaringa Joint Venture Update
Sydney, Nov 19, 2018 AEST (ABN Newswire) - Cobalt Blue Holdings Limited (
ASX:COB) (CBBHF:OTCMKTS) 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 Limited (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) (FRA:COH) (OTCMKTS:CBBHF) has a strategic approach that positions us to be among the first wave of new entrants into the allied battery materials supply chain. We are committed to playing a leading role in securing a stable and sustainable future for critical minerals.
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