CHILEAN COBALT CORP.

What they do

The company holds 6,377 hectares of 100% owned mining concessions in the San Juan District of Chile's Atacama Region III, a historic mining district. Its principal activities are assessing and consolidating concessions, exploring cobalt-copper resources through geophysics, geochemistry, drilling, IP surveys, and AI pilot studies, and building downstream refining relationships. No mining production or revenue has been generated to date.

Revenue drivers

• Cobalt and copper concentrate (planned) — The company intends to produce cobalt and copper concentrate from La Cobaltera and El Cofre; no production or sales have occurred, and revenue has been $0.00 in every reported year from 2021 through 2025 and every quarter through 2026-06-30.
• Downstream processing partnership — A non-binding LOI with US Strategic Metals signed September 6, 2024, and extended September 5, 2025, covers processing and refining of expected concentrate, with refined outputs aimed at cobalt metal and battery chemical intermediates; final terms are not defined.
• Offtake rights — A Deed of Undertaking signed November 11, 2025, with a Glencore plc subsidiary grants Glencore a right of first and last refusal to purchase cobalt and copper product from the two projects.

Recent performance

Revenue was $0.00 for the years 2021 through 2025 and for the quarters ended 2025-09-30, 2025-12-31, 2026-03-31 and 2026-06-30. Net loss was $3.3M in 2025, versus $882,574 in 2024, with diluted EPS of -$0.07 in 2025 compared with -$0.02 in 2024. Operating cash flow was -$1.1M in 2025 versus -$718,275 in 2024. As of 2026-06-30, total assets were $4.8M, total liabilities $129,184, shareholder equity $4.7M, and cash and equivalents $3.0M.

Strategy

Management's stated priorities are securing development funding and putting downstream processing relationships in place. On August 4, 2026, an EXIM Bank LOI was approved for potential debt-related financing of up to $375.0 million, effective August 13, 2026 and expiring August 14, 2027, replacing a prior LOI of up to $317.4 million that was not renewed. The company describes a planned three-way partnership with Glencore and US Strategic Metals to build an Americas-centric cobalt and copper supply chain linking its Chilean projects to USSM's processing site in Missouri. It also cites an accelerated phased implementation plan, ESG strategy, and governance build-out among its activities.

Risks

• Going concern — Management concluded that factors raise substantial doubt about the ability to continue as a going concern, and the auditor included an explanatory paragraph for fiscal years 2025 and 2024.
• No revenue and limited cash runway — The company has never recorded revenue, and its current cash resources will not allow it to become profitable and will only fund operations for a limited period.
• Financing and dilution — Additional capital is required, which if obtained could result in substantial dilution or significant debt service obligations, and may not be available on commercially reasonable terms.
• Early-stage development and commodity exposure — The company is in early stages of operations, has not begun production, and its prospects depend on cobalt and copper prices that can be volatile, especially due to changes in supply.

Outlook

Management states its commercial priorities are to have funding lined up for timely development and to finalize downstream processing relationships. The EXIM Bank LOI of up to $375.0 million is non-binding, does not represent a financing commitment, and is contingent on a financing application and EXIM's due diligence. Final terms with USSM and the scope of the proposed Glencore partnership remain to be defined.