The Company re-evaluated key project parameters for the Kwinana Cobalt Refinery (KCR), delivering an uplift to forecast financial metrics. With the cobalt market entering a significantly improved and potentially sustained price environment, preparations commenced for environmental permit applications for the Broken Hill Cobalt Project.
At the Broken Hill Technology Centre, activities expanded to evaluate battery black mass from recycled lithium-ion batteries as a potential feedstock for KCR. Leveraging the Centre’s technical capabilities, the Company commenced a collaborative research initiative with CSIRO to support Australia’s battery materials capability and secured a A$100,000 testwork contract with a tier-one international copper producer.
The Company also advanced flowsheet optimisation at the Halls Creek Project, supporting targeted metallurgical testwork to assess potential silver recovery.
In addition, Cobalt Blue successfully raised A$5.3 million via an oversubscribed placement from new and existing shareholders, ensuring the Company is well funded to execute its planned activities through 2026.