Cosmos Exploration

What Cosmos Exploration does

Cosmos Exploration is an ASX-listed junior mining company (ticker: C1X) headquartered in Subiaco, Western Australia. Following its 2026 acquisition of EAU Lithium Pty Ltd, the company has pivoted from its original multi-commodity exploration mandate toward integrated direct lithium extraction (DLE) project development in Bolivia. The company is pre-revenue, with reported FY2025 net losses of approximately A$4.42 million and a starting cash balance of only A$681,000 prior to a March 2026 capital raise. Headcount is small, in the 1–10 employee range, consistent with a development-stage junior.

The company's core technology offering is the VULSORB A-DLE (Adsorption Direct Lithium Extraction) process, licensed from Vulcan Energie Ressourcen GmbH and inherited through the EAU Lithium acquisition, supported by an A-DLE pilot plant acquired in June 2026. Strategic execution rests on three pillars: a non-binding negotiation agreement with Bolivia's state-owned Yacimientos de Litio Bolivianos (YLB) for resource access and production contracts; the VULSORB technology license; and an EPCM partnership with SEPCON for engineering and pilot deployment. Targeted end markets are battery manufacturers, electric vehicle producers, and lithium refiners, though no customers or offtake agreements are disclosed.

Cosmos is currently funded primarily by an A$5.0 million placement completed in March 2026 at A$0.20 per share, supplemented by A$0.6 million of director participation. The EAU Lithium acquisition was share-based, with approximately 108.5 million new shares issued to vendors — a substantial dilution event for legacy shareholders. The go-to-market is a partnership-driven, B2G/B2B model in which monetization requires first securing production contracts with YLB, navigating Bolivia's regulatory environment, and demonstrating the A-DLE process at pilot scale before any lithium offtake can be realised. No revenue is currently recognised, and the company faces material funding constraints relative to its stated development ambitions.

Name

Cosmos Exploration

Legal name

Cosmos Exploration Limited

Website

https://cosmosx.com.au

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Cosmos Exploration is an ASX-listed junior mining company (C1X) developing direct lithium extraction projects in Bolivia using the licensed VULSORB A-DLE technology from Vulcan Energie Ressourcen. Pre-revenue, it partners with state-owned YLB to target battery manufacturers and EV producers.

Ownership category

akta.pro rank

Product category

Lithium Mining and Exploration

NAICS

Support Activities for Mining (213)

SIC

Metal Mining (1000)

akta.pro primary industry

Lithium Mining & Brine Extraction (IMAKAFAA)

akta.pro secondary industry

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

Keywords

• Lithium exploration
• Direct lithium extraction
• Battery materials supply
• Mining project development
• Lithium brine processing

Headquarters

HQ city

Subiaco

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Lithium Project Development: Pre-revenue mining exploration company that completed a merger with EAU Lithium and is developing lithium extraction projects in Bolivia. The company is in early-stage development with no current revenue from operations, having reported a net loss of $4.42 million in FY2025.

Go-to-market motion1 record

Marketing channels3 records

Core offering

Cosmos Exploration is a pre-revenue ASX-listed junior mining company developing lithium extraction projects in Bolivia through its merger with EAU Lithium. The company is pursuing the development and deployment of Vulcan Energy Resources' VULSORB A-DLE (Adsorption Direct Lithium Extraction) technology on Bolivian brines, in partnership with Bolivia's state-owned lithium company YLB. Its current focus is on project feasibility, pilot plant deployment, and securing regulatory pathways to produce battery-grade lithium.

Product overview

Cosmos Exploration is a lithium development company focused on Bolivia, operating through its strategic merger with EAU Lithium. The company leverages VULSORB A-DLE (Adsorption Direct Lithium Extraction) technology licensed from Vulcan Energy Resources to develop lithium extraction operations. The portfolio consists of licensed direct lithium extraction technology and an associated pilot plant, which together form the core of the company's lithium development strategy in Bolivia in partnership with Bolivia's state lithium company YLB.

Differentiator

Problem solved

Functional benefit

Products and services

• VULSORB A-DLE Technology Direct Lithium Extraction (DLE) technology licensed from Vulcan Energie Ressourcen GmbH, designed to improve the efficiency and sustainability of lithium extraction from Bolivian brine resources through an adsorption-based extraction process.
• A-DLE Pilot Plant Pilot plant based on Vulcan's A-DLE technology, acquired from EAU Lithium, intended to support pilot-scale lithium extraction testing and capability development in Bolivia.

Quantifiable outcome

• Doubling of share price following YLB partnership announcement

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core.

• SEPCONcoreImplementation/ SI/ Consulting Partner · 24 June 2026Strategic partnership with SEPCON, a South American EPCM (Engineering, Procurement, Construction Management) firm, to advance Cosmos Exploration's lithium development strategy in Bolivia. SEPCON will provide engineering services, logistics support, feasibility studies, and pilot plant installation support.
• Vulcan Energie Ressourcen GmbHcoreTechnology or Integration · 3 March 2026Licensing partnership for VULSORB A-DLE (Adsorption Direct Lithium Extraction) technology acquired through the acquisition of EAU Lithium. The technology is designed to improve the efficiency and sustainability of lithium extraction from Bolivian brines.
• EAU Lithium Pty LtdcoreStrategic or Co-development Partner · 3 March 2026Cosmos Exploration acquired 100% of EAU Lithium Pty Ltd, a Bolivia-focused lithium development company, by issuing approximately 108.5 million fully paid ordinary shares to vendors. The transaction includes EAU Lithium's VULSORB technology licensing partnership with Vulcan Energie Ressourcen GmbH.
• YLB (Yacimientos de Litio Bolivianos)coreStrategic or Co-development Partner · 1 February 2026Bolivia's state-owned lithium company has executed a non-binding Negotiation Agreement with EAU Lithium (now part of Cosmos Exploration) for potential future lithium production contracts using Vulcan Energy's VULSORB A-DLE direct lithium extraction technology. The agreement builds on extensive testing already conducted on Bolivian brines and is contingent on navigating Bolivia's complex regulatory environment and securing additional funding.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Vulcan Energy Resources: German-listed DLE-focused lithium developer whose VULSORB A-DLE technology is licensed to Cosmos. Operates the Zero Carbon Lithium Project in the Upper Rhine Valley and serves as the upstream technology and strategic reference for Cosmos's Bolivian venture.
• Lake Resources: ASX-listed lithium developer using direct lithium extraction technology (ion-exchange) on Argentine brine assets. Highly comparable to Cosmos as an ASX small-cap DLE-pure-play with brine resource exposure and pre-revenue development stage.
• Standard Lithium: North American (NYSE/TSXV-listed) DLE-focused lithium developer pursuing projects in the Smackover brine formation in Arkansas. Highly comparable as a DLE-pure-play developer targeting battery-grade lithium from brine resources.
• Lithium Americas: North American lithium developer with major brine projects (Cauchari-Olaroz in Argentina, Thacker Pass in Nevada). Comparable as a South American-focused lithium developer pursuing brine-to-battery-grade production.

Regional players

• Liontown Resources: ASX-listed lithium developer/developer focused on Australian hard-rock spodumene assets (Kathleen Valley). Comparable as an ASX small-to-mid-cap lithium developer in the upstream extraction stage, though operating in a different geology (hard-rock vs. brine).

Broad incumbents

• Pilbara Minerals: Largest ASX-listed pure-play lithium miner producing spodumene concentrate from the Pilgangoora project in Western Australia. Comparable as an ASX-listed lithium producer at a more advanced stage; serves as the benchmark for ASX lithium valuation.
• Albemarle Corporation: World's largest lithium producer operating brine assets in Chile and the US, plus hard-rock assets in Australia. Sets the global lithium price benchmark and is the dominant incumbent Cosmos would need to displace or partner with at scale.
• SQM (Sociedad Química y Minera): Chilean-based global lithium and specialty chemicals producer with major brine operations in the Salar de Atacama. Directly relevant incumbent in South American lithium brine, with established offtake relationships to major battery makers.
• Ganfeng Lithium: Chinese integrated lithium producer with global brine, hard-rock, and conversion assets. Major strategic player in global lithium supply chain and a potential partner/competitor for Cosmos's downstream offtake ambitions.

Emerging players

• E3 Lithium: Canadian junior DLE developer focused on Alberta lithium-from-brine resources. Comparable as a small-cap pure-play DLE developer in early stage, similar in size and development maturity to Cosmos's Bolivia project.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cosmos-exploration-limited
• Xx.com/Cosmos_ASX

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cosmos Exploration