Market Update: Broken Hill Cobalt Project Mineral Resource Estimate

COB has updated the Broken Hill Cobalt Project (BHCP) Mineral Resource estimate following the completion of the 2022-23 drilling program. Measured Resources have increased by 32% when compared with the former estimate (2021).

The updated Mineral Resource estimate for the BHCP now comprises 126.5 Mt at 867 ppm cobalt-equivalent (CoEq) (690 ppm cobalt, 7.5% sulphur and 134 ppm nickel) for 87 kt contained cobalt, 9,510 kt sulphur and 17 kt nickel (at a 275ppm CoEq cut-off). Measured and Indicated resources now comprise 66% of the total Mineral Resource.

The estimate is a major stepping stone in completion of the BHCP Definitive Feasibility Study (DFS) and will form the basis of detailed mine planning and scheduling.