Victory bought the tin tailings prospects in 2014 for circa-1 billion shares, telling shareholders the Bolivian assets had high grades that offered near term cashflows.

However, no cashflows ensued.

The assets have been placed in caretaker mode.

Late last year, Victory said it was acquiring cobalt tenure in New South Wales and Western Australia, including ground near Clean TeQ and Australian Mines' respective plays west of Dubbo.

Victory described its move as an opportunistic acquisition into a sector in Australia which is on an upswing whilst providing geographic diversity from the tin exploration activities in Bolivia.

Victory started the year with A$1.7 million cash.

Shares in Victory were unchanged in afternoon trade at 1.5c.

The stock was at levels around 0.5c when the cobalt move emerged.