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Cobalt Blockchain Provides Corporate Update on Joint Venture Copper / Cobalt Properties, Commissioning Study on Cobalt Hydroxide Plant and Trading on The OTCQB Venture Market
Cobalt Blockchain Provides Corporate Update on Joint Venture Copper / Cobalt Properties, C...
About this update from Enerev5 Metals Inc.
[{"type":"text","content":"\n\n\n\nCobalt Blockchain Provides Corporate Update on Joint Venture Copper / Cobalt Properties, Commissioning Study on Cobalt Hydroxide Plant and Trading on The OTCQB Venture Market\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 9, 2018\n\n\n\nTORONTO, Nov. 9, 2018 /CNW/ - Cobalt Blockchain Inc. (\"COBC\" or the \"Company\") (TSX-V: COBC; OTCQB: COBCF) is pleased to provide a corporate update related to progress on the Company's cobalt project in the Democratic Republic of the Congo (\"DRC\") including:\nStatus of the DRC copper / cobalt joint venture properties;Commissioning study on the DRC cobalt hydroxide plant;Renewal of offer for US$10M credit facility;Trading on the OTCQB Venture Market; and,Conferences and events.\n \n \n\n \nDRC Copper / Cobalt Joint Venture Properties\nFurther to COBC's announcement on March. 22, 2018, two local joint venture (\"JV\") companies have been formed, namely Alpha Cobalt SAS and Cobalt Blockchain SAS. Initial property payments totalling US$125,000 have been made to the local JV partners on the completion of due diligence related to property title and a baseline geological assessment. A further US$275,000 in cash, 300,000 shares and 300,000 options (on terms to be agreed upon on or prior to closing) will be paid to the local JV partners on completion of further milestones. The transactions described under this heading are subject to approval of the TSX Venture Exchange. \nA NI 43-101 compliant technical report on both properties acceptable to the TSX Venture Exchange must be completed before the final closing of the JV agreements. \nCommissioning Study on Cobalt Hydroxide Processing Plant\nWith reference to the Letter of Intent (\"LOI\") with Traxys Europe S.A. (\"Traxys\") (as previously announced on August. 7, 2018), COBC has engaged Minxcon Consulting (Pty) Limited, a South Africa based consulting engineering firm, to provide a commissioning study to confirm the time and capital costs required to commence operation of the DRC cobalt hydroxide plant. After the plant is commissioned, the initia...