Pala sweetens Cobalt 27 offer

Mining private equity group Pala Investments has sweetened its offer for battery metals streaming company Cobalt 27 by increasing the total cash consideration by C$30-million.

The new arrangement, announced on Tuesday, provides that Cobalt 27 shareholders will receive a total consideration of C$5.92 a share, comprising C$4 in cash and one share of a newly listed company to be named Nickel 28, with an implied value of C$1.92 a share.