The premise of an MoU is the metallurgical work at undertaken by Cobalt Blue at Thackaringa that is said to have identified a process that shows strong cobalt recoveries from pyrite hosted mineralisation.
Mutooroo may represent a similar scenario.
A 10kg sample from Mutooroo is to be tested by Cobalt Blue, with full results to be provided to Havilah by the end of April.
Quite what a possible deal between the two companies might look like is still to be revealed.
Mutooroo, located in South Australia near the border of New South Wales, contains a current resource of 13 million tonnes at 1.48% copper and 0.14% cobalt.
Thackaringa, located in NSW near ...