Australia's Cobalt Blue slips on discounted placement

Cobalt Blue Holdings

12/09/2025 03:22

** Cobalt Blue COB.AX falls 5.7% to A$0.05, lowest since September 2

** Stock set for biggest percent fall since September 1

** Cobalt explorer receives commitments to raise A$1 mln ($666,000) via placement at A$0.045/share

** Issue price represents 15.1% discount to last close

** Co enters into placement agreement with Lind Global Fund III to initially draw A$1.5 million with potential to extend it by A$4.5 mln

** Funds will be used to advance Kwinana Cobalt Refinery in Western Australia towards final investment decision, develop pre-feasibility study for Halls Creek copper-zinc-silver Project in Western Australia, among others

** Around 1.4 mln shares traded, ~2.8x the 30-day avg

** YTD, COB falls 26.5%

($1 = A$1.5015)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.SinghChundawat@thomsonreuters.com))