Chilean Cobalt Corp. Reports Increased Losses and Ongoing Financial Challenges in Q2 2025

Chilean Cobalt Corp. reported its financial results for the second quarter of 2025, revealing continued challenges as the company has yet to generate any revenue. For the three months ending June 30, 2025, the company recorded a net loss of $310,511, compared to a loss of $210,134 during the same period in 2024. The six-month figures also reflect a significant increase in losses, with a net loss of $644,809 for the first half of 2025, up from $473,310 in the prior year. The increase in losses is attributed to higher operating expenses, particularly in mineral exploration and general administrative costs.

Total operating expenses for the second quarter of 2025 amounted to $315,963, a rise from $215,089 in the previous year. The increase was driven by costs associated with mineral exploration, which totaled $19,798, and general and administrative expenses, which rose to $295,741 from $214,425. The company also experienced a foreign currency transaction loss of $424,664, contributing to the overall increase in expenses. As of June 30, 2025, Chilean Cobalt's accumulated deficit reached $34,027,621, highlighting the ongoing financial strain.

In terms of strategic developments, Chilean Cobalt has made progress in securing partnerships to enhance its operational capabilities. The company signed a non-binding Letter of Intent with Glencore plc to purchase all production from its La Cobaltera project, which is expected to facilitate the shipment of cobalt and copper minerals to the U.S. Additionally, a partnership with U.S. Strategic Metals aims to process and refine the concentrates produced at La Cobaltera, further integrating the supply chain for critical minerals. These partnerships are part of the company's broader strategy to establish a sustainable supply chain for cobalt and copper.

Operationally, Chilean Cobalt has maintained a stable employee headcount, with 43,502,145 shares of common stock outstanding as of June 30, 2025. The company has also issued 2,407,785 shares of Series B Convertible Preferred Stock, raising a total of $830,945 in financing during the first half of 2025. Despite these efforts, the company reported a cash balance of $601,108, which raises concerns about its ability to sustain operations over the next 12 months without additional financing. The company has indicated a need to raise approximately $325 million to complete its operational plans, which include further exploration and development of its mining concessions.

Looking ahead, Chilean Cobalt Corp. faces significant challenges in securing the necessary funding to continue its operations and advance its projects. The company has expressed a need to raise additional capital, with plans to pursue private placements and potential debt financing. However, there is substantial doubt about its ability to continue as a going concern, as highlighted by its auditors. The company’s future operations will depend heavily on its ability to secure financing and successfully execute its business plan, which includes exploration and development activities aimed at generating revenue from its cobalt and copper resources.