Northern Cobalt Ltd

Acquired nine prospective tenements in the Northern Arunta Pegmatite Province:Northern Cobalt Ltd (ASX: N27) stock rose 12.7% on December 20, 2017 after the company acquired 100% interest in nine prospective tenements in the Northern Arunta Pegmatite Province, Northern Territory and has applied for four adjoining tenements. The project consists of hard rock lithium targets in central Australia and the company has identified Ultramafic copper-cobalt (Cu-Co) mineralization. Both lithium and cobalt are in high demand for modern batteries. Moreover, N27 has planned a resource upgrade at the advanced Wollogorang Cobalt Project, which will form the basis of early scoping studies. Resource upgrade at Stanton Cobalt Deposit is expected in Q1 2018 and scoping study will commence from January 2018.
 
It is worth noting that the recent acquisition is complimentary to the Wollogorang Cobalt Project, which allows exploration during the wet season. The geological mapping and rock chip sampling at the Arunta Project will commence early in 2018. Meanwhile, N27 stock has risen 8.51% in one month as on December 19, 2017. We give a “Speculative Buy” recommendation on the stock at the current price of $0.575
 

Location of Northern Cobalt’s projects (Source: Company Reports)

 
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