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Significant Accounting Policies and Basis of Preparation (Tables)

12 Months Ended

Dec. 31, 2022

Significant Accounting Policies and Basis of Preparation

Summary of material subsidiaries that have been consolidated for all dates presented within these financial statements


Subsidiary		Ownership		Location		Asset Held
Cobalt Projects International Corp.		100	%	Canada		Ontario Properties
Cobalt Industries of Canada Corp.		100	%	Canada		Ontario Properties
Cobalt Camp Refinery Ltd.		100	%	Canada		Refinery
Cobalt Camp Ontario Holdings Corp.		100	%	Canada		Ontario Properties
Idaho Cobalt Company		100	%	United States		Idaho Properties
Scientific Metals (Delaware) Corp.		100	%	United States		Idaho Properties

Summary of classification of financial instruments

The Company had made the following classification of its financial instruments:


Financial assets or liabilities		Measurement Category
Cash and cash equivalents		Amortized Cost
Restricted cash		Amortized Cost
Receivables		Amortized Cost
Marketable securities		FVTPL
Account payable and Accrued liabilities		Amortized Cost
Convertible notes payable		Amortized Cost
Long-term government loan payable		Amortized Cost
Financial derivative liabilities		FVTPL