We are pleased to announce COB received firm commitments to raise $5.3 million through a placement led by international and domestic institutional investors.
— The issue price of the Placement is $0.09 per share, which represents a discount of 14.3% to COB’s 10-day VWAP. The Placement proceeds will be used to fund:
Progression of remaining milestones to the KCR FID, including:
Conversion of offtake non-binding Letters of Intent into binding agreements
Consolidating support for project finance
Evaluation of black mass processing at Broken Hill Technology Centre
Exploring a potential source of Australian feedstock for KCR.
Broken Hill Cobalt Project
Further advancement of project permitting
General working capital and corporate costs to support both project activities and ongoing operations.
Fundraising costs.
CEO Dr. Andrew Tong said: “This funding further strengthens our financial position and provides a clear runway for us to pursue our key initiatives into 2026, in particular, progressing the Kwinana Refinery to FID, evaluation of black mass processing in our Broken Hill Technology Centre, and further advancement of the Broken Hill Cobalt Project to project permitting.
We are pleased to welcome several new highly regarded international institutional investors onto our register and appreciate the confidence of our existing and new shareholders.”
Release Id: 89178109
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