ASX-listed Broken Hill Prospecting and fellow-listed Cobalt Blue Holdings have inked a binding heads of agreement that would allow Cobalt Blue to obtain full ownership of the Broken Hill, or Thackaringa, cobalt project, in South Australia.
In early December last year, the two companies agreed to terms that would allow for the dissolution of a joint venture, in which Broken Hill held a 30% share and Cobalt Blue a 70% interest.