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Cobalt Blue Holdings Limited (ASX:COB)

ALERT: Price-sensitive ASX Announcement for COB
Current share price for COB : $0.067 0.007 (11.67%)+
Announcement
Release
2 Oct 2025 9:41AM
Price at Release
$0.060
Full Release
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Summary
Cobalt Blue Holdings Limited has announced the repayment of the final installment of a promissory note to American Rare Earths Limited, marking the full discharge of their obligations under the note. This repayment involves $1.0 million plus interest, ensuring the tenement package for the Broken Hill Cobalt Project (BHCP) is unencumbered. The promissory note was initially issued in January 2020 as part of Cobalt Blue's acquisition of ARR's interest in the BHCP, securing 100% ownership. The BHCP, located near Broken Hill, New South Wales, is a significant undeveloped cobalt resource outside Africa, positioned to become a strategic supplier in the global energy transition. Cobalt Blue's CEO, Dr. Andrew Tong, expressed gratitude towards ARR for their support and optimism for the project's future given favorable market conditions.
Key Points
  • Cobalt Blue Holdings Limited repaid a $1 million promissory note plus interest to American Rare Earths Limited.
  • The repayment marks the full discharge of obligations under the promissory note.
  • The note was related to Cobalt Blue's acquisition of a full ownership stake in the Broken Hill Cobalt Project.
  • The Broken Hill Cobalt Project is a major undeveloped cobalt resource outside of Africa.
  • The project aims to be a strategic supplier of cobalt for the global energy transition.
  • CEO Dr. Andrew Tong acknowledged ARR's support and looked forward to advancing the project.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.