COB - Quarterly Activity Report March 2026
The Company made significant progress toward Final Investment Decision at the Kwinana Cobalt Refinery, expanded its technology footprint into the US, and advanced project development across its portfolio during the March 2026 quarter.
The March 2026 quarter delivered two landmark milestones for Cobalt Blue — formal confirmation that our cobalt sulphate meets stringent pCAM specification, and our selection as processing partner for Glomar Minerals LLC, putting our patented technology at the centre of a US-based critical minerals supply chain solution.
Progress across the broader business was equally strong. The Kwinana Cobalt Refinery FID pathway continues to advance, with LOIs from buyers in the US, Japan and France now covering ~70% of initial production capacity. A Preliminary Feasibility Study for the Broken Hill Cobalt Project is targeting completion in Q4 2026, and a new CSIRO co-development program at the Broken Hill Technology Centre will explore battery-grade graphite recovery from black mass. At Halls Creek, metallurgical testwork is underway to evaluate silver recovery from Stage 1 operations — a potentially significant addition to project economics.
COB ended the quarter with A$5.6 million in cash, representing approximately 5.1 quarters of funding at current outgoings.