TRADING TO COMMENCE ON ASX
DRILLING UPDATE AND TRADING TO COMMENCE ON ASX TODAY AS STOCK CODE ‘N27’ FOR NORTHERN COBALT LTD
We are pleased to announce completion of a successful IPO and beginning of trading on the ASX with stock codes N27 and N27O later today the 22nd of September 2017.
Northern Cobalt Ltd has a 100% owned cobalt mineral resource in the Northern Territory, details of which are available in the Company’s Prospectus via the ASX website and the Appendix IPO Company Presentation.
Cobalt is an important metal used in the production of batteries and is favoured in end uses such as electric vehicles and mobile phones. The price of Cobalt has risen 240% in the last 12 months (reference- www.infomine.com).
Summary
- Trading to commence on the ASX today as stock code N27
- IPO closed with
- 370 shareholders
- Scaled back to $4.213m
- Access road upgrade completed
- Geology staff driving to site now
- Drilling approvals received from Northern Territory government
- Drilling rig expected to start driving to site next Monday
- 20,000m drilling program to commence at earliest possible date
- Cobalt demand continues to be tipped as the driver for the cobalt sector as supply remains constrained
- Cobalt price is currently $62,500 up 240% from 12 months ago (www.infomine.com)
We look forward to sharing the progress with you!
