New Risk • Apr 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 38% per year over the past 5 years. Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$56.6m market cap, or US$40.5m). New Risk • Dec 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 35% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (41% average weekly change). Earnings have declined by 51% per year over the past 5 years. Shareholders have been substantially diluted in the past year (35% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Significant insider selling over the past 3 months (AU$799k sold). Market cap is less than US$100m (AU$45.3m market cap, or US$30.3m). Announcement • Dec 09
Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 5.323 million. Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 5.323 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 59,144,446
Price\Range: AUD 0.09
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Board Change • Nov 14
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Hugh Douglas Keller was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Oct 19
Independent Non-Executive Chairman recently sold AU$550k worth of stock On the 15th of October, Robert Biancardi sold around 2m shares on-market at roughly AU$0.26 per share. This transaction amounted to 93% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. Announcement • Oct 14
Cobalt Blue Holdings Limited, Annual General Meeting, Nov 14, 2025 Cobalt Blue Holdings Limited, Annual General Meeting, Nov 14, 2025. Location: at the company`s offices, at suite 12.01, level 12, 213 miller street, north sydney 2060 Australia Announcement • Oct 10
Cobalt Blue Holdings Limited Announces Board Changes Cobalt Blue Holdings Limited announced after almost 10 years as Chairman of the company Mr. Rob Biancardi has advised the Board of his intention to retire at the conclusion of the upcoming 2025 Annual General Meeting. With Mr. Biancardi's planned retirement, Mr. Joe Kaderavek has agreed to assume the role of Chair from the conclusion of the AGM. With the Company working towards a final investment decision on its Kwinana Cobalt Refinery, the Board will shortly commence the search for a new, technically strong Board member to replace Mr. Biancardi as an Independent Non-Executive Director. In addition, the Board is delighted to announced the appointment of Cobalt Blue's Chief Executive Officer, Dr Andrew Tong, to the Board as Managing Director with effect from 10 October 2025. The Board believes that Dr Tong's comprehensive understanding of Cobalt Blue's strategic, operational and visionary goals will ensure that he will continue to make a significant contribution to the Company at Board level. Dr Andrew Tong is a metallurgist with over 20 years of experience in project development, mining and processing. He has formerly held senior corporate management roles, including CEO and Board roles for Compass/Northern Territories Resources, Goldsmith Resources (Peru) and Australia Gold. He is an inventor and holds several patents for processing minerals containing base and precious metals. Andrew has been a member of Cobalt Blue's executive team for over seven years and has served as Chief Executive Officer since 1 May 2025. Andrew has a PhD in Chemistry, a BSc (Hons 1) from the University of Sydney and is a member of the Australasian Institute of Mining and Metallurgy (AUSIMM). New Risk • Oct 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 21% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 51% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (AU$63.7m market cap, or US$42.0m). New Risk • Oct 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 51% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (AU$29.4m market cap, or US$19.5m). Announcement • Sep 12
Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 1.028 million. Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 1.028 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 22,844,444
Price\Range: AUD 0.045
Discount Per Security: AUD 0.0027
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Mar 25
Cobalt Blue Holdings Limited Provides Update on Halls Creek Project Cobalt Blue Holdings Limited provided update on Halls Creek Project. COB to Commence 2025 Scoping Study: The Sandiego and Onedin deposits at Halls Creek have been subject to previous economic evaluations and COB has now completed a comprehensive Review of these evaluations and related data. The Review has identified options for potential commercial development of the Sandiego and Onedin deposits which are to be advanced via a Scoping Study (the `Study'). The Study will capitalise on the extensive body of historical work delivered by over AUD 20 million of exploration investment undertaken by previous owners and partners. The Study will be completed by the Company's technical team with engagement of external consultants for select disciplines. Specifically, the Study will provide a preliminary economic assessment of the project and COB expects to have completed the Scoping Study by June 2025. Acquisition Rationale: While remaining committed to current project pipeline, COB actively seeks assets that align with strategy and expertise. With substantial work already completed, Halls Creek strengthens portfolio for two key reasons, as follows: Near-term cash flow: With +40 years of groundwork completed, COB is ready to advance Halls Creek, backed by team's expertise in metallurgical innovation and res ce project development. This positions the Project for rapid advancement into an operational asset with near-term cash flow. Commodity cycle resilience: The Project expands exposure to metals such as copper, zinc, lead, silver, and gold. This diversifica- tion strengthens ability to weather price swings, optimise capital allocation, and seize new opportunities in shifting market conditions. The recent recovery in cobalt prices aptly highlights cobalt as a cyclical commodity subject to market forces that can rapidly influence supply and demand dynamics. The rapid +60% price rebound in recent weeks is clearly a reaction to a restriction of near- term supply availability in an otherwise saturated market. Although the length of supply tightness is difficult to anticipate, it serves as a reminder that the 2.5-year-long price decline was a supply-driven event. Demand for cobalt remains well above historical trends, and as supply growth normalises, prices may potentially be pressured back toward long-term averages. With progressed cobalt assets, COB remains well positioned to benefit from any such upturn in cobalt markets. The Sandiego and Onedin deposits at Halls Creek have been subject to previous economic evaluations COB has now completed a comprehensive Review of these evaluations and related data. A summary of key outcomes of the Review is provided. An extensive compilation of historical metallurgical testwork has been completed. The previous testwork programs broadly consid- ered the delineation of dominant mineralisation styles differentiated by oxidation state and major element composition (nominally copper and zinc zones) reflective of the domains used to constrain the Mineral Res ce estimates. Previous testwork indicated high metal recoveries are achievable with several processing options evaluated to maximise project economics. Based on these results, COB will advance flowsheet development, evaluating the following proposed processing pathways. Treatment of oxide /transition mineralisation via acid leaching (heap leach): Oxide - transition material is delivered to the processing plant and crushed to a desired particle size for stockpiling on the heap leach pad. A leaching solution is applied to the heap leach pad and leaches out the target metals from the material. The leach solution is transferred over to a solvent extraction circuit where copper and zinc are selectively extracted and processed via electrowinning to recover copper and zinc metals. Initial acid leaching testwork focused on copper extraction and achieved recoveries of 70-75%. The results of the acid leach testwork concluded that heap leaching could be a viable processing route for the oxide material. COB proposes to conduct leaching testwork investigating recovery of copper and additional metals including zinc, silver, gold and cobalt. The economic reclamation of metals within the oxide layer is considered an important step to providing the Project with a near term, lower capital intensity path to first operating cashflows. Treatment of sulphide mineralisation via flotation: Crushed material feeds into a mill, which reduces it to a target particle size suitable for flotation. Copper is recovered via flotation through a series of cell stages including rougher, cleaner and scavenger circuits. The copper concentrate produced is dewatered and filtered. Tailings produced from the copper flotation circuit are transferred to the zinc flotation circuit for zinc recovery. Zinc concentrate produced is dewatered and filtered. Tailings produced from the zinc flotation circuit are dewatered and sent to a tailing storage facility for disposal. Extensive flotation testwork has been conducted on the sulphide composite samples indicating concentrates can be produced with grades of 25% and 55% for copper and zinc respectively. Metal recoveries showed a copper recovery of >90% and zinc recovery of >80%. COB will initiate further testwork to investigate the application of modern flotation equipment to optimise flotation performance (grade-recovery curve) and capital and operating costs. Economic evaluations undertaken by previous owners and partners have incorporated mining studies contemplating: Open cut mining of the Onedin deposit; and/or Combined open cut and underground mining of the Sandiego deposit (long hole open stoping). COB intends to complete the Study considering development of both the Onedin and Sandiego deposits through a combination of open cut and underground mining. Mine scheduling will nominally evaluate a proposed process plant with a feed capacity of 700-800ktpa. Key optimisation parameters will be informed by the recent Review. With reference to the preferred process flowsheets described herein, the Company will complete a revision of capital (`CAPEX') and operating expenditure (`OPEX') estimates for both mining and processing. COB and Iwatani are progressing towards a financing decision for the Refinery. Focus remains on the following activities: 80% of the detailed plant engineering has been completed with Tetratech. A works approval permit application is being assessed by the Department of Water and Environmental Regulation (West Australian Government). The public consultation period for the Works Approval permit has recently closed. Offtake negotiations continue. Under `commercial-in-confidence' agreements, samples of cobalt sulphate are being generated on request at the Broken Hill Technology Centre. COB is engaging closely with export credit agencies, commercial banks and potential investors on funding options. New Risk • Mar 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 62% per year over the past 5 years. Revenue is less than US$1m (AU$1.4m revenue, or US$858k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$33.2m market cap, or US$21.1m). Reported Earnings • Mar 17
First half 2025 earnings released: AU$0.009 loss per share (vs AU$0.009 loss in 1H 2024) First half 2025 results: AU$0.009 loss per share (in line with 1H 2024). Net loss: AU$3.98m (loss widened 14% from 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 22 percentage points per year, which is a significant difference in performance. New Risk • Feb 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 51% per year over the past 5 years. Revenue is less than US$1m (AU$1.4m revenue, or US$881k). Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (AU$24.9m market cap, or US$15.6m). Announcement • Nov 18
Cobalt Blue Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 6.083636 million. Cobalt Blue Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 6.083636 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 84,494,949
Price\Range: AUD 0.072
Transaction Features: Rights Offering Announcement • Oct 26
Cobalt Blue Holdings Limited, Annual General Meeting, Nov 29, 2024 Cobalt Blue Holdings Limited, Annual General Meeting, Nov 29, 2024. Location: companys offices, suite 17.03, level 17, 100 miller street, north sydney 2060. Australia New Risk • Sep 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$23m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$23m free cash flow). Earnings have declined by 51% per year over the past 5 years. Revenue is less than US$1m (AU$1.4m revenue, or US$959k). Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (AU$30.0m market cap, or US$20.5m). Reported Earnings • Sep 26
Full year 2024 earnings released: AU$0.098 loss per share (vs AU$0.016 loss in FY 2023) Full year 2024 results: AU$0.098 loss per share (further deteriorated from AU$0.016 loss in FY 2023). Net loss: AU$37.6m (loss widened AU$32.1m from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 27 percentage points per year, which is a significant difference in performance. Announcement • May 28
Cobalt Blue Holdings Limited Announces Demise of Rob McDonald, Non-Executive Director It is with deep sadness and sincere condolences that the Cobalt Blue Holdings Limited’s Board of Directors advises of the sudden and unexpected death of non-executive director Rob McDonald, on 21 May 2024, due to natural causes. Rob's significant business experience, insights, and contributions were greatly valued by the Board and management. Announcement • Apr 19
Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million. Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 43,478,261
Price\Range: AUD 0.115
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Mar 28
New major risk - Revenue and earnings growth Earnings have declined by 22% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$28m free cash flow). Earnings have declined by 22% per year over the past 5 years. Revenue is less than US$1m (AU$450k revenue, or US$294k). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Market cap is less than US$100m (AU$53.0m market cap, or US$34.6m). New Risk • Mar 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$28m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$28m free cash flow). Revenue is less than US$1m (AU$450k revenue, or US$298k). Minor Risks Currently unprofitable and not forecast to become profitable next year (AU$7.0m net loss next year). Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Market cap is less than US$100m (AU$55.8m market cap, or US$36.9m). New Risk • Mar 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. Revenue is less than US$1m (AU$233k revenue, or US$152k). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$29m). Currently unprofitable and not forecast to become profitable over next 2 years (AU$6.0m net loss in 2 years). Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Market cap is less than US$100m (AU$60.5m market cap, or US$39.4m). New Risk • Feb 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. Revenue is less than US$1m (AU$233k revenue, or US$152k). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$29m). Currently unprofitable and not forecast to become profitable over next 2 years (AU$6.0m net loss in 2 years). Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$65.8m market cap, or US$42.9m). Announcement • Oct 24
Cobalt Blue Holdings Limited, Annual General Meeting, Nov 24, 2023 Cobalt Blue Holdings Limited, Annual General Meeting, Nov 24, 2023, at 11:00 AUS Eastern Standard Time. Location: Vibe Hotel, 171 Pacific Highway North Sydney 2060 North Sydney Australia Agenda: To consider and adopt the remuneration Report; To consider and re-elect a Director; to consider and approve for future issue of fully paid Ordinary shares; to consider approval of 10% placement facility; to consider and approve of employee incentive plan; to consider and approve the issue of ordinary shares to Directors; to consider and approve the change of Auditor; and to consider other business matters. New Risk • Sep 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. Revenue is less than US$1m (AU$233k revenue, or US$150k). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$29m). Currently unprofitable and not forecast to become profitable over next 2 years (AU$6.0m net loss in 2 years). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (AU$105.1m market cap, or US$67.7m). New Risk • Sep 07
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$25m). Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (AU$7.0m net loss in 2 years). Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (AU$112.6m market cap, or US$71.7m). New Risk • Aug 13
New major risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 16% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$25m). Currently unprofitable and not forecast to become profitable over next 2 years (AU$7.0m net loss in 2 years). Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (AU$136.9m market cap, or US$88.9m). New Risk • Jun 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$25m free cash flow). Earnings have declined by 23% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$92.5m market cap, or US$61.9m). New Risk • Jun 21
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$25m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$25m free cash flow). Earnings have declined by 23% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$107.3m market cap, or US$72.9m). Recent Insider Transactions • Jan 18
Independent Non-Executive Chairman recently sold AU$153k worth of stock On the 13th of January, Robert Biancardi sold around 241k shares on-market at roughly AU$0.64 per share. This transaction amounted to 4.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Robert has been a net seller over the last 12 months, reducing personal holdings by AU$289k. Recent Insider Transactions • Dec 14
Independent Non-Executive Chairman recently sold AU$135k worth of stock On the 6th of December, Robert Biancardi sold around 205k shares on-market at roughly AU$0.66 per share. This transaction amounted to 3.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. Announcement • Dec 07
Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 21.163507 million. Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 21.163507 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 28,123,088
Price\Range: AUD 0.58
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,917,442
Price\Range: AUD 0.58
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,448,276
Price\Range: AUD 0.58
Transaction Features: Regulation S; Rights Offering Recent Insider Transactions • Dec 02
Independent Non-Executive Director recently sold AU$67k worth of stock On the 24th of November, Hugh Douglas Keller sold around 100k shares on-market at roughly AU$0.66 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$46k more than they bought in the last 12 months. Announcement • Nov 16
Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million. Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,896,552
Price\Range: AUD 0.58
Discount Per Security: AUD 0.029
Transaction Features: Subsequent Direct Listing Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Non-Executive Director Rob McDonald was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 15
Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million. Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,896,552
Price\Range: AUD 0.58
Transaction Features: Rights Offering Announcement • Oct 27
Cobalt Blue Holdings Limited, Annual General Meeting, Nov 25, 2022 Cobalt Blue Holdings Limited, Annual General Meeting, Nov 25, 2022, at 11:01 AUS Eastern Standard Time. Location: Company's North Sydney office Sydney Australia Agenda: To receive and consider the Financial Report, Directors' Report and Auditor's Report for the Company for the financial year ended 30 June 2022; to approve the re election of MR JOSEF KADERAVEK; to re elect a director MR ROBERT McDONALD; to adopt the Remuneration Report for the financial year ended 30 June 2022; to discuss the approval for future issue of fully Paid Ordinary shares; to consider the approval of 10% placement facility; and to discuss other related matters. Announcement • Oct 07
Cobalt Blue Holdings Limited Announces Ore Processing Update Cobalt Blue Holdings Limited announced that as previously reported, underground mining has been completed with 4,500 t of ore extracted. Concentrator circuit has subsequently completed phase one of testwork on 500 t of ore. The company expected a further 2,500-3,000 t of ore to be concentrated over the next 4 weeks. Gravity circuit upgraded cobalt in ore to 4,300 ppm in concentrate (with 75% mass rejection). Cobalt in ore varied from low grade 500 ppm to >1,000 ppm with consistency of upgrade confirmed. Kiln circuit commissioned, with leach and MHP production circuits to follow shortly. Reported Earnings • Sep 20
Full year 2022 earnings released: AU$0.017 loss per share (vs AU$0.011 loss in FY 2021) Full year 2022 results: AU$0.017 loss per share (further deteriorated from AU$0.011 loss in FY 2021). Net loss: AU$5.23m (loss widened 95% from FY 2021). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 75% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 01
Cobalt Blue Holdings Limited Announces Bulk Sample Ore Extraction Completed Cobalt Blue Holdings Limited announced Bulk Sample Ore Extraction Completed. Since establishment of the underground portal in late April, a total of 148.3 m of development has been completed comprising: 86 m of decline development; 24.1 m of cross strike development; and 38.2 m of strike parallel development. With the decline intersecting mineralisation from approximately 68 m, mining has delivered some 4,000-4,500 t of ore for processing via the Demonstration Plant. Additional material will be utilised for scaled geometallurgical studies intended to support process plant optimisation. The ROM has been separated into six parcels, representing sequential portions from the mining operations. These parcels have now been individually stage crushed to a 4 mm top size. Characterisation of the parcels is ongoing for grade, hardness, mineralogy, and grain size. To date, the concentrator circuit has been treating Parcel 1, with the first step being milling of the ore to a top size of 1-1.5 mm. Operations are progressing at around 6 tphr feed into the concentrator. The Pyrite Hill deposit extends over 1.2 km along strike, over 300 m down dip and varies in thickness from 10 to 100 m. Mineralisation is hosted by a quartz-albite gneiss and is characterised by the presence of disseminated pyrite concentrated parallel to primary foliation. Ore drive development extracted material between 257 mRL and 262 mRL, approximately 40 to 50 m below surface and 3 to 6 m below the interpreted top of fresh rock. Drilling activities have resumed at Pyrite Hill with the mobilisation of a multi-purpose rig to site for the installation of groundwater monitoring bores. Further installations across the broader project area will continue through September. Data obtained from the bores will further inform the groundwater impact assessment as a component of the broader suite of studies being completed for preparation of the Environmental Impact Statement. During September, the staged mobilisation of additional drill rigs will continue for the execution of a campaign intended to advance geotechnical investigations for further pit optimisation and waste rock characterisation. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Non-Executive Director Rob McDonald was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 14
First half 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First half 2022 results: AU$0.006 loss per share (down from AU$0.005 loss in 1H 2021). Net loss: AU$1.94m (loss widened 46% from 1H 2021). Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) missed analyst estimates by 45%. Over the next year, revenue is expected to shrink by 100% compared to a 1,014% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Non-Executive Director Rob McDonald was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions Derivative • Dec 31
Independent Non-Executive Chairman exercised options to buy AU$93k worth of stock. On the 22nd of December, Robert Biancardi exercised options to buy 188k shares at a strike price of around AU$0.40, costing a total of AU$75k. This transaction amounted to 4.7% of their direct individual holding at the time of the trade. Since March 2021, Robert's direct individual holding has increased from 2.59m shares to 3.96m. Company insiders have collectively bought AU$307k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Sep 29
Full year 2021 earnings released: AU$0.011 loss per share (vs AU$0.016 loss in FY 2020) Full year 2021 results: Net loss: AU$2.68m (loss widened 12% from FY 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Sep 12
Cobalt Blue Holdings Limited Finalises Premium Cobalt Samples Cobalt Blue Holdings Limited has finalised premium cobalt samples. Premium Mixed Hydroxide Product (MHP) {typically 35%-41% cobalt and 3%-10% nickel content} produced. The Broken Hill Cobalt Project (BHCP) Pilot Plant has produced a variety of high grade, tailored MHP specifications with COB receiving positive feedback. The BHCP Global Project Partner search aided significantly by these results. Transition to Demonstration Plant remains on target with continuous operations targeted during first quarter of 2022. Recent Insider Transactions • Jul 02
CEO & Executive Director recently bought AU$107k worth of stock On the 30th of June, Josef Kaderavek bought around 395k shares on-market at roughly AU$0.27 per share. This was the largest purchase by an insider in the last 3 months. Josef has been a buyer over the last 12 months, purchasing a net total of AU$112k worth in shares. Announcement • Jun 16
Cobalt Blue Holdings Limited announced that it expects to receive AUD 15 million in funding Cobalt Blue Holdings Limited (ASX:COB) announced a private placement of 50,000,000 ordinary shares at an issue price of AUD 0.30 per share for gross proceeds of AUD 15,000,000 on June 15, 2021. The transaction will involve participation led by domestic and offshore institutional investors, institutional, sophisticated and professional investors. The company will also issue 25,000,000 free attaching options exercisable at AUD 0.45 each on or before August 15, 2022 on the basis of one option for every two shares issued. The company will issue shares in two tranches. In the first tranche the company issued 25,900,000 shares and 12,950,000 unquoted options, exercise price AUD 0.45 per option with expiry date of August 15, 2022, expected to settle on or around June 18, 2021. In the second tranche, the company will issue 24,100,000 new shares and 12,050,000 unquoted options exercise price of AUD 0.45 per option, expiry date August 15, 2022, subject to shareholder approval at a general meeting of shareholders which is expected to be held in early August 2021. The company will issue shares that will rank equally with shares currently on issue. Reported Earnings • Mar 10
First half 2021 earnings released: AU$0.005 loss per share (vs AU$0.009 loss in 1H 2020) First half 2021 results: Net loss: AU$1.34m (loss widened 1.4% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 22
New 90-day high: AU$0.45 The company is up 350% from its price of AU$0.10 on 24 November 2020. The Australian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 18% over the same period. Executive Departure • Feb 02
Company Secretary has left the company On the 31st of January, Robert Waring's tenure as Company Secretary ended after 2.6 years in the role. We don't have any record of a personal shareholding under Robert's name. Robert is the only executive to leave the company over the last 12 months. Announcement • Jan 29
Cobalt Blue Holdings Limited Announces Change of Company Secretary Cobalt Blue Holdings Limited announced that Mr. Robert Waring has resigned from the role of Company Secretary with effect from 31 January 2021. Cobalt Blue announced the appointment of Mr. Danny Morgan and Mr. Grahame Clegg as company secretaries, effective 28 January 2021. Mr. Morgan is the Company's CFO and has been with the Company since May 2018. Mr. Clegg is a Chartered Accountant and Chartered Company Secretary with extensive experience in company secretary and corporate governance practices within Australia. Is New 90 Day High Low • Jan 04
New 90-day high: AU$0.23 The company is up 158% from its price of AU$0.089 on 06 October 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 17% over the same period. Announcement • Sep 08
Cobalt Blue Holdings Limited announced that it has received AUD 3.751101 million in funding On August 10, 2020, Cobalt Blue Holdings Limited (ASX:COB) closed the transaction. Announcement • Sep 07
Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 3.577583 million. Cobalt Blue Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 3.577583 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,658,772
Price\Range: AUD 0.095 