SHARE PRICE: $
Koba Resources is an Australian resources company exploring a portfolio of high-grade cobalt projects in the USA to support the electric vehicle revolution and the world’s path to net zero emissions.
A key component of batteries, cobalt’s global consumption is forecast to more than double increasing from 156,000 tonnes in 2021 to more than 400,000 tonnes by 2030 with demand driven by the growth in electric vehicles, energy storage systems and smart devices. The cobalt price has risen from $US33,000 per tonne in January 2021 to $US82,000 per tonne in May 2022 with substantial shortfalls in cobalt supply forecast over the same period.
Koba has a 100% interest in four high-grade assets in one of the western world’s premier cobalt districts – the Idaho Cobalt Belt. The highly prospective Blackpine, Colson, Panther and Elkhorn Cobalt-Copper projects, where cobalt is the metal of primary economic importance. These projects and are all in close proximity to Glencore’s historical Blackbird Mine that produced 5Mt at 0.6% Co and 1.5% Cu up to 1969, and Jervois Global’s Idaho Cobalt Operation that is scheduled for first production later this year from a resource totalling 6.8Mt at 0.42% Co, 0.64% Cu & 0.51 g/t Au. Koba’s fifth project, the Goodsprings Copper-Cobalt Project, is located in Nevada.
Koba’s experienced management team has a very good understanding of the Idaho Cobalt Belt’s high-grade mineralisation and is committed to realising value by advancing the company’s assets . Koba has deliberately focused on the tier 1 jurisdiction of the USA, where government policy is increasingly promoting low carbon alternatives and domestic supply for minerals critical to reducing its carbon footprint including cobalt.
Located in the world renowned Idaho Cobalt Belt, our high-grade Blackpine Cobalt-Copper Project comprises several high priority prospects that have not been explored since the 1990’s.
Previous drilling identified high grade results including:
- 0.15m @ 4.79% Co & 4.00 g/t Au
- 6.2m @ 0.61% Co & 6.4 g/t Au;
- 1.2m @ 1.43% Co & 1.37 g/t Au