Global Energy Metals Corporation says it is well placed to take advantage of the upcoming lithium battery boom.
GEMC is sole owner of the Millennium Cobalt Project which it bought from Hammer Metals.
It also owns two neighbouring discovery stage exploration-stage Mount Isa Cobalt-Copper-Gold Projects and CEO Mitchell Smith has been talking up their prospects to shareholders in London.
"GEMC is a vehicle for investment exposure for electrical vehicles battery material," Mr Scott said.
"We're building a pipeline for securing for cobalt and battery metals."
That's where North West Queensland comes in.
The Millennium Project is a significant cobalt-copper deposit which remains open for further expansion. There is a 2012 JORC Inferred Resource estimate which showed good grades of cobalt, copper and gold while the Mount Isa Projects include Mount Dorothy and Cobalt Ridge.
Mr Smith said the price of cobalt has had a "rollercoaster life" due to the political volatility of the main supplier - the Democratic Republic of Congo.
"We are trying to break that cycle and add an alternative supply of material," he said.
"The adoption rate of electric vehicles and new energy storages is creating a new demand for cobalt material and putting pressure on existing supply."
That's the impetus for GEMC to develop its flagship Millennium Project which is north-west of Cloncurry.
"We've taken 100% of that project and we've had fantastic results from a drill program last year and we've working with a group called Cobalt Blue who are working to do some recovery studies, metallurgic work to better understand what kind of product and process we can have for Millennium," Mr Scott said.
"That's stage 1 before we go on and do an expansion program, drill the property and hopefully increase the tonnage quite significantly."
Mr Scott said cobalt was a niche metal.
"There is a need for an alternative supply outside of the DRC and we believe our projects are very strong and have potential for supply in the future," he said,
It's a view shared by outgoing Queensland Mines Minister Anthony Lynham who wants to turn the North West Minerals Province into a "cobalt capital"
He said the NWMP could become a key global supplier of the mineral, critical in the production of mobile phones, wind turbine generators and electric cars.
As well as GEMC there is another possible cobalt play at Aeon Metals' Walford Creek, 350km north west of Mount Isa which claims to have the highest grade cobalt sulphide deposit in Australia,
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