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31/8/2018 — Other Minerals and Metals
E2 Metals drops NSW project

E2 Metals Ltd (ASX: E2M) has had a change of heart and dropped a cobalt-nickel prospect in New South Wales that it took up in June.

The company, which holds the Neavesville gold prospect in the Hauraki Goldfield of New Zealand’s North Island, was to acquire 100% of shares in private company Cobalt Magnetic Pty Ltd which held a prospect in the Cootamundra region.

E2 Metals said that since the acquisition there had been a lower cobalt price and a softening of sentiment for the prospect, and a formal termination deed has now been executed.

This year E2 Metals has placed a limited focus on Neavesville where the previous year there were plans for drilling but this was cut short by inclement weather in the Coromandel region.

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