The
Cobalt Blue Holdings Ltd(ASX: COB) share price is on a tear today. Shares are up 13% in early afternoon trading.
Investor interest appears to have turned to Cobalt Blue following an update on the company’s Broken Hill Cobalt Project in New South Wales.
What progress did Cobalt Blue report at Broken Hill?
In this morning’s ASX release, Cobalt Blue revealed that its wholly-owned subsidiary, Broken Hill Cobalt Project Pty Ltd, had received notice of its proposed grant of exploration licence application.
The tenement application covers some 67sq km and will increase Cobalt Blue’s exploration area in the Broken Hill region by approximately 70%.
S&P/ASX 200 breaks above 6,800 for the first time since late February 2020
Brent crude oil price gained 40 cents to US$56.30 a barrel on expectations that U.S. President Joe Biden’s administration will deliver a massive stimulus spending that will lift fuel demand. Australia’s unemployment rate came in at 6.6% in December.
S&P/ASX 200 (INDEXASX:XJO) is rising for a third consecutive day with the index 0.68% higher at 6,816 points by 1.51 pm and breaking above the 6,800 point mark for the first time since late February 2020.
This followed a positive lead from Wall Street where the S&P 500 and the Nasdaq hit all-time highs on Wednesday after the inauguration of Joe Biden as 46th President of the United States.
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