Recent Updates — COBA
On October 28, 2026, Chilean Cobalt Corp entered into a definitive option agreement to acquire approximately 1,381 hectares of exploitation-level and 2,900 hectares of exploration-level mining concessions in the San Juan district of northern Chile. The company paid $300,000 upon signing to extend future payments by 60 days. To fully exercise the option, the company must pay $1.5 million by December 30, 2026, $6 million by April 29, 2027, and two additional installments of $10 million each in late 2027 and late 2028. Upon acquisition, the sellers receive a 1.5% net smelter return royalty for 99 years. Concurrently, on October 29, the company amended its agreement with NeoRe SpA regarding the NeoRe Rare Earth Project, confirming completion of initial tranches and extending the option exercise deadline to March 31, 2027. Chilean Cobalt Corp operates in the mining sector, focusing on cobalt and rare earth exploration.
Chilean Cobalt Corp. completed Phase 2 of its earn-in agreement with NeoRe SpA, earning an additional 1% net smelter royalty to total a 2% interest in the NeoRe Rare Earth Project and advancing into negotiations for a definitive acquisition of 100% ownership for 6,000,000 shares. Concurrently, the company secured $1.5 million in gross proceeds from Madesal SpA through an unregistered sale of 750,000 common shares at $2.00 per share. Proceeds will fund district consolidation, exploration, and working capital. Chilean Cobalt Corp. operates as a critical minerals exploration and development company focused on cobalt-copper projects in Chile.
Chilean Cobalt Corp. announced on July 22, 2026, that the Export-Import Bank of the United States (EXIM Bank) declined to renew its Letter of Interest (LOI) due to guidelines limiting eligible LOIs to a maximum of two years. The company had previously utilized a twelve-month extension, rendering the LOI expired. Consequently, Chilean Cobalt submitted a new application to EXIM requesting terms substantially similar to the expired letter. The company anticipates ordinary course processing but noted that an LOI is not a financing commitment and issuance is at EXIM's sole discretion. The company operates in the mining and metals sector, specifically focusing on cobalt exploration and development.
Holders of 68.71% of the voting power of Chilean Cobalt Corp. approved a grant of discretionary authority to the Board of Directors to effect a reverse stock split within a range of 1-for-2 to 1-for-6. The split is intended to provide flexibility to meet minimum price requirements for a national securities exchange listing. Chilean Cobalt Corp. is a mining company focused on cobalt production.