Cobalt Blue takes another BHCP development step with appointment of strategic financial advisor

Cobalt Blue Holdings Ltd (ASX:COB) (OTCMKTS:CBBHF) (FRA:COH) has taken another step in the development of the Broken Hill Cobalt Project (BHCP) in Far West New South Wales by appointing Cutfield Freeman & Co Limited to act as strategic financial advisor.

The role of strategic financial advisor will include partner search, financial advisory and capital raising.

Cutfield Freeman will assist in COB’s Global Project Partner Search by searching for and engaging with project partners and will also help identify potentially viable funding options and execution plans.

Capital raising will be another function with Cutfield Freeman to identity and source providers of senior and junior debt, and alternative financing sources.

Global reach

Cutfield Freeman, a global specialist resources corporate advisory business, brings global reach and solutions to COB’s strategic financial needs.

Cobalt Blue’s chief executive officer Joe Kaderavek said: “COB selected Cutfield Freeman given their extensive experience and reach as a global financial advisor to junior mining companies.”

Development work for the BHCP continues in parallel with COB’s Cobalt in Waste Streams Project.

Cutfield Freeman was founded in 2000 to provide independent financial advice to companies in the mining industry and to date, has advised on more than 150 mandated transactions in 50 countries.

It advises on joint ventures, project and corporate finance, M&A, corporate restructuring and debt restructuring in the mining sector covering a wide range of geographies and commodities.

“Important cobalt asset”

Tony Butler, managing director of Cutfield Freeman in London, stated: “Broken Hill is a strategically important cobalt asset, which is set to be among a new wave of environmentally and socially responsible cobalt producers.

“We are excited about working with management to deliver the right financing solution for the project.”

Cutfield Freeman is headquartered in London and has offices in Toronto and Hong Kong.

It has experience across the critical minerals sector with clients including Bikita Minerals, Molycorp, Neometals, Peak Resources and Wolf Minerals.

COB shares closed more than 5% higher to 38 cents and the company’s market cap sits at approximately $94.4 million.

Story by ProactiveInvestors