COB - Quarterly Activity Report June 2026
The June 2026 quarter saw Cobalt Blue advance on all fronts — deepening its KCR offtake pipeline, progressing Project Infinity toward feasibility, and launching a metallurgical program at Halls Creek that could materially improve project economics.
The global shift toward electrification, AI infrastructure and energy security is reshaping demand for critical minerals at a pace few anticipated. The commodities in our portfolio sit at the heart of this transition — powering EV batteries, data centre infrastructure, defence systems and the electrification of everything from transport to industrial supply chains. Cobalt Blue is uniquely positioned to benefit, with a near-term cobalt refinery, a world-class cobalt resource, a copper-silver project with significant optionality, and a growing US footprint through Project Infinity, we offer investors direct, diversified exposure to these structural tailwinds.
June 2026 Quarter Activity Highlights:
KCR — Offtake negotiations continued alongside cobalt sulphate sample production and evaluation at the Broken Hill Technology Centre, as the Company maintains focus on the pathway to Final Investment Decision.
Broken Hill Cobalt Project — A Preliminary Feasibility Study commenced during the quarter, focused on optimising project scale, capital intensity and staged development pathways.
Broken Hill Technology Centre — The CSIRO co-development program to recover and purify battery-grade graphite from black mass is progressing.
Halls Creek — Metallurgical testwork is now underway targeting silver recovery and a simplified development pathway, with an updated Scoping Study due Q4 2026.
Project Infinity — The Glomar Minerals consortium advanced site selection and testwork planning for the proposed US polymetallic nodule processing facility, marking another step in Cobalt Blue's expanding technology footprint.
Cobalt Market — The quarter ended considerably tighter than forecast, with supply disruptions across the DRC, Madagascar and Indonesia pointing to a structural deficit that strengthens the long-term investment case for KCR.
COB ended the quarter with A$4.3 million in cash, representing approximately 3.5 quarters of funding at current outgoings.