The project forms part of the Group's broader tenement holding comprising five Exploration Licenses and two Mining Leases, for a total area of approximately 220 km2. The project hosts three large tonnage cobalt-bearing pyrite deposits, Pyrite Hill, Big Hill and Railway.
Cobalt is a critical metal, in strong demand for new generation batteries, particularly lithium-ion batteries now being widely used in clean energy systems.
Financial Review
The net loss of the Group for the 2022 financial year was
- higher employee benefits expenses due primarily to director and employee share-based payment awards and more staff.
- higher corporate costs, primarily associated with increased company promotion and financial advisory fees associated with COB's search for a project partner.
- higher ASX and registry fees reflecting share issues and an increase in total shareholders during the year.
During the financial year the Group received Industry Grants of
*To view the Annual Report, please visit:
https://abnnewswire.net/lnk/877952O2
About
Contact:
Chief Executive Officer
info@cobaltblueholdings.com
P: (02) 8287 0660
Copyright (C) 2022 ABN Newswire. All rights reserved., source