Thackaringa remains on target to become a world class cobalt project with recent metallurgical testwork highlighting 88% cobalt recoveries from ore to payable product.

Quarterly highlights:

Projects

Thackaringa Project

• Delivered Indicated Resource Project.
• Bulk Testwork – Calcine and Leach Update.
• COB on target to deliver PFS by 30 June 2018.

Cobalt Trends

• Electric Vehicle Update – battery costs remain key to uptake.

Corporate

• Stage One Achieved – COB has retained 51% of the beneficial interest of the Thackaringa Project. Milestone announced 20 April 2018.
• Asian Commercial Visit
• LGI Deal signed – As announced on 23 March 2018, on 16 April 2018 a cash share placement totalling A$ 7.8 million (US$ 6.0 million equivalent) at A$1.10 each share was made by COB to LG International.
• HAV MOU Signed