Cobalt Blue Holdings Ltd has secured $700,000 through an advance on its anticipated Research and Development Tax Incentive (R&DTI) refund for the 2025 financial year (FY25). The funding will support the finalisation of the production flowsheet for the Kwinana Refinery Project.
The advance was provided under a short-term loan facility with Radium Capital, a specialist Research and Development finance provider, and is secured against COB’s FY25 R&DTI refund from the Australian Taxation Office (ATO).
The loan accrues interest at 1.44% per month and is scheduled for repayment upon receipt of the R&D tax refund, expected by 31 December 2025. The facility matures on the same date, with no penalties for early repayment. In the event of default, interest will accrue at 1.94% per month.
COB has also received a $500,000 instalment under the CMAI grant program, bringing total grant funding received to date to $14 million. Combined with the Radium Capital loan, these funds increase COB’s cash and cash equivalents to A$2.94 million as of February 27, 2025.
Name change coming
Last week the company proposed a name change to Core Blue Minerals Ltd, aligning with its broader diversification strategy. The proposal follows the company’s earn-in agreement with AuKing Mining Ltd for the Halls Creek Project in northern Western Australia.
Halls Creek is a large-scale copper, lead, zinc, silver, and gold project with notable cobalt potential.
COB stated that the agreement enables the company to apply its metallurgical, engineering, and project development expertise to expand and diversify its asset portfolio.
Read more: Cobalt Blue diversifies into copper through project earn-in with AuKing Mining; name change proposed