Cobalt Blue Holdings Limited: Quarterly Activities Report

Sydney, Australia - During the quarter, Cobalt Blue Holdings Ltd.'s (ASX:COB) (FRA:COH) (OTCMKTS:CBBHF) testing of third-party feedstock continued at COB's Technology Development Centre (formerly known as a Demonstration Plant). Work continues to optimise key unit operations and prepare supporting information for the detailed engineering of the proposed Kwinana Cobalt Refinery (KCR).

Activity in the quarter has focused on installing and operating the solvent extraction circuit using centrifugal extractors. These equipment items offer lower capital costs, a smaller footprint, and more automated liquor processing than conventional solvent extraction mixer settlers. In conjunction with the solvent extraction step, progress has been made in optimising the removal of trace metals using ion-exchange resins. Operating parameters and procedures are being developed, forming the basis for commissioning the proposed KCR plant.

With these plant and process adjustments, COB commenced cycle testing to produce cobalt sulphate in a repeatable manner according to commercial target specifications. Processes were carried out in batches in a controlled fashion. This method allowed extra time to ensure each process step was carried out as intended and liquor purification before crystallisation. Samples produced in this way were sent to Queensland University of Technology (QUT) for analysis. This program will continue through Q4 2024.

In addition to cobalt sulphate production, further work programs have included operating a second solvent extraction circuit to produce liquor for nickel electrowinning and subsequent trials of nickel metal production by electrowinning. Nickel metal is the target by-product of the KCR flowsheet.

Engineering

In July, COB announced that Tetra Tech Coffey Pty Ltd (Tetra Tech) had been selected to conduct detailed engineering work for the KCR. Tetra Tech is a leading global provider of high-end consulting and engineering services with wide-ranging engineering, procurement, and construction management (EPCM) experience. The company hosts 550 offices worldwide, with around 28,000 employees. Tetra Tech has extensive experience handling complex hydrometallurgical plants and associated materials. Importantly, Tetra Tech has worked with Iwatani Australia on various projects over the last 10 years and knows the site and personnel well. The company's technical expertise and previous experience are invaluable in bringing the KCR through the stages of concept and detailed design. Tetra Tech has significant expertise in complex plant development, including Iluka's Eneabba Project (Phase 2) and Arafura's SX Plant Detailed Design.

Permitting

ABEC Pty Ltd and Green Values Australia Pty Ltd were appointed earlier in the year to develop a Works Approval application for submission to the Department of Water and Environmental Regulation (DWER) Western Australia. The Works Approval application is expected to be lodged shortly.

Feedstock sources

During the quarter COB continued discussions with potential feedstock providers. Suppliers will need to adhere to strict criteria, and COB will only source from suppliers that:

- do not contravene USA Foreign Entities Of Concern (FEOC) definitions;

- meet appropriate environmental and labour standards; and

- permit traceability/authentication to validate origin and supply chain custody.

Offtake

During the quarter COB continued offtake discussions with various international parties based in Asia and Europe. Several of these parties are currently assessing COB's cobalt sulphate samples.

*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/O34P15Z7

About Cobalt Blue Holdings Limited:

Cobalt Blue Holdings Ltd (ASX:COB) (FRA:COH) (OTCMKTS:CBBHF) has a strategic approach that positions us to be among the first wave of new entrants into the allied battery materials supply chain. We are committed to playing a leading role in securing a stable and sustainable future for critical minerals.

Source:
Cobalt Blue Holdings Limited

Contact:

Joe Kaderavek Chief Executive Officer info@cobaltblueholdings.com P: (02) 8287 0660