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The Toronto Stock Exchange-listed company recently secured a $C1 million bridging loan to enable it to complete preparation of the minesite and to acquire mining equipment to restart the mine.
To date, Cobalt has completed the installation of the power system and has successfully tested the main mine fan ventilation system.
Cobalt owns a 60% after payout interest in Westchester and operates the mine through its wholly owned subsidiary Westchester Coal.
Created just under two years ago, Cobalt is concentrating its efforts on developing an asset base in the Appalachian region but intends to later look at international ventures.
