The Cobalt Blue (ASX:COB) share price is rocketing 13% today. Here’s why

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%.

The company said its advanced exploration targeting bolsters the long-term…