Australia's Cobalt Blue rises on MoU to develop sulphuric acid supply solutions

Cobalt Blue Holdings

09/12/2024 03:29

** Shares of Cobalt Blue Holdings  COB.AX  rise as much as
14.5% to A$0.078, their largest intraday pct jump since late
June
    ** Stock posts its highest level since Nov 15
    ** The green energy exploration firm signs an MoU with Mount
Isa City Council to assess solutions for sulphuric acid supply
shortage in North West Queensland
    ** Co says shortage in sulphuric acid supply caused by
closure of Glencore Mount Isa copper smelter hinders growth of
fertiliser, metallurgical, and chemical sectors in the region
    ** More than 1.9 mln shares change hands, four times the
30-day avg of around 474,000 shares
    ** Stock down 69.2% YTD, including current session's moves

    

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))