The funds will enable the company to expand activities in south-west England and to drill exploratory boreholes to extract samples of lithium-bearing brines.
Last week it was reported that the Chinese government published new guidelines designed to eliminate illegal mining and encourage more high-end processing.
Societe Miniere de Bisunzu (SMB), has given 30 days notice to end its contract with ITSCI, a responsible supply chain initiative, citing the scheme's rising costs.
Cobalt 27 will put in about $9 million into a share of production at Mineral Resources and Jiangxi Ganfeng Lithium's Mount Marion lithium project in Western Australia.