Australia's Cobalt Blue rises as NSW project gets 'Major Project status'

Cobalt Blue Holdings

02/03/2022 24:33

** Shares of exploration co Cobalt Blue Holdings  COB.AX 
climb as much as 23.9%, their biggest intraday pct gain since
Jan 17
    ** Co says it has been granted 'Major Project Status' for
its Broken Hill cobalt project in New South Wales by the
Australian government  urn:newsml:reuters.com:*:nASX7H6JjV
    ** Says the status extends for a three-year period to
support the project through its development phase
    ** Shares hit their highest since Feb. 11
    ** More than 2.5 mln shares trade hands, 1.7 times the
30-day average of 1.5 mln shares
    ** As of last close, stock down 7.1% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))