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The merged company would retain an ASX listing.

Perth cobalt explorer in Canadian takeover

A Canadian company has entered into an agreement to acquire Perth-based Cobalt One under an all-scrip deal that values the target at about $63 million.

Shareholders in Cobalt One, formerly known as Equator Resources, will receive 0.145 First Cobalt shares for every share they own, equivalent to 11 cents per share.

The tie-up would create a pure-play cobalt exploration company focused in Canada with a market cap of about $140 million.

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Cobalt One (CO1)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 30/06/17

1 year TSR5 year TSR
16thCobalt One584%-7%
304thEquatorial Resources18%-28%
612thTungsten Mining-37%0%
662ndWhitebark Energy-47%-25%
746thAzure Minerals-66%-3%
711 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

16/06/17
$0 Issued
16/06/17
$0 Issued
16/05/17
$85k Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

138th↓Cobalt One$775k
158th↑Azure Minerals$525k
159th↑Whitebark Energy$517k
161st↑Tungsten Mining$496k
162nd↓Equatorial Resources$473k
492 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Cobalt One

554thJason Bontempo$190k
Ranked by total remuneration from all listed WA companies

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