By Independent Investment Research
Barra Resources Limited (“Barra” or “the Company”) has recently competed a positive Scoping Study on the Mt Thirsty Cobalt Project (“Mt Thirsty” or “the Project”) in Western
Australia which it holds in a JV with ASX-listed Conico Limited (ASX: CNJ, “Conico”). Mt Thirsty is unique amongst Western Australian nickel-cobalt laterite deposits, in that the extreme weathering has resulted in the potential to extract the cobalt using an ambient pressure and moderate temperature sulphur dioxide leach process, rather than the significantly more expensive high pressure acid leach (“HPAL”) processing required by most other WA laterites. Barra will now be looking towards funding for ongoing development studies, with a number of options on the table.