JOHANNESBURG (miningweekly.com) – Junior cobalt miner Cobalt One’s shareholders have approved a merger with Toronto-based First Cobalt, which means that the companies are one step closer to creating the largest pure-play cobalt company in the world.
Cobalt One announced on Monday that 99.995% of the shareholders’ votes were in favour of the merger.
Meanwhile, Australian court approval for the merger has been granted and trading of Cobalt One shares on the ASX was due to come to a halt on Tuesday, pending the close of the transaction.
"We look forward to seeing First Cobalt shares trade on the ASX, as this dual listing will bring a much larger shareholder base and added liquidity," First Cobalt CEO Trent Mell said.
Cobalt One and First Cobalt are combining a complimentary portfolio of high-quality exploration assets in the Cobalt Camp in Canada.
The combined company also owns the only permitted cobalt refinery in North America designed to produce battery materials.