First Cobalt - Overlooked Miner/Refiner?

Discussion in 'Canadian Stocks Message Boards' started by Small time investor, Oct 19, 2020.

  1. Small time investor

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    First Cobalt has the only permitted cobalt refinery in North America. They are not currently producing yet, but are planning on expanding the plant first. They have patented land both in Canada and the US (Idaho).
    Currently trading for about $0.12 USD. Perhaps a very good opportunity? I am long.
    US trading: OTC (FTSSF) https://www.firstcobalt.com/

    Here is the latest news about Idaho:

    First Cobalt Begins Geophysics Program at Idaho Project


    First Cobalt Corp. (TSX-V: FCC; OTCQX: FTSSF) (the "Company") announced the resumption of exploration activities at its Iron Creek cobalt-copper deposit in Idaho, USA. As the cobalt market continues to strengthen, the Company is commencing geophysical surveys to trace extensions of mineralization and follow up on geophysical anomalies detected by previous work.

    Highlights

    • Objective is to refine follow-up drill targets further east along strike of the cobalt-rich zone intersected over a 300m vertical depth (incl. 0.20% Co over 12.0m true thickness) as well as the western extension of the copper-rich zone (incl. 3.40% Cu and 0.10% Co over 2.6m true thickness)
    • Program will trace the Iron Creek cobalt and copper resource below cover beyond the current 900-metre strike extent of the deposit
    • Induced polarity and resistivity measurements have proven to be effective to detect cobalt-copper mineralization at Iron Creek
    • Program will assess historic geophysical anomalies identified within the stratigraphic footwall below the resource
    • Interpretation of geophysical results is expected later this year and will support planned resource drilling at Iron Creek in 2021 as well as further testing of nearby cobalt-copper mineralized targets, including the Ruby zone

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    Trent Mell, President & Chief Executive Officer, commented:


    “Developing a domestic supply of cobalt and other critical minerals has taken a new urgency in 2020, as North America strives to become less reliant on foreign supply.

    “The Idaho Cobalt Belt is a unique geological setting for primary cobalt deposits unlike any other areas in the world. New funding programs within the U.S. Department of Energy, the Department of State and the Department of Defense underscore the priority the U.S. government is placing on developing its domestic critical minerals supply chain.

    “Since publishing an updated cobalt and copper resource estimate for Iron Creek earlier this year, we have had a three-pronged focus: extending cobalt mineralization to the east, extending copper mineralization to the west, and identifying new targets within a 2-kilometre radius on the property. This geophysics program will increase our confidence in existing drill targets that could expand the Iron Creek deposit and provide new targets.

    “In 2019, we announced high grade cobalt assays up to 0.48% cobalt at a prospect 1.5 kilometres south of Iron Creek called Ruby. Ruby is exposed along a 300m strike extent and represents further near-surface potential for cobalt and copper mineralization on the First Cobalt’s property.”


    Geophysical Survey

    The geophysical survey is expected to take three weeks to complete and consists of induced polarity and resistivity measurements covering the eastern and western portion of the Iron Creek cobalt-copper mineralized zone and extending beyond and along strike (Figure 1). In 1971, following development of 600m of underground workings that confirmed the consistency and continuity of cobalt-copper grades, geophysical surveys were conducted at surface to aid exploration for further resources. This data was recovered from files and maps, then reviewed and interpreted in light of borehole geophysical surveys conducted in 2018 by First Cobalt. The review indicated induced polarity and resistivity methods detect mineralization to 300m below surface, a depth at which past drilling has intersected mineralization.

    In the west, mineralization is covered at surface by the Challis Volcanics, a relatively young rock sequence that is un-mineralized and is 50-70m thick. The western portion of mineralization is copper-rich consisting of 10-50cm semi-massive bands and stringers of chalcopyrite that are typically well detected by these electro-geophysical methods. First Cobalt drilling also encountered mineralization in the hangingwall above the mineralized zone in this area that will also be potentially outlined by the geophysical survey.

    The previous survey also detected a chargeable inducted polarity anomaly in the east that corresponds to the stratigraphic footwall below the Iron Creek resource. The upcoming program is designed to resolve the location of the anomaly for proper drill testing to determine if additional cobalt-copper mineralization is associated with the geophysical response. Footwall mineralization was encountered during resource drilling but has not been modelled for estimation since the intersections were widely spaced.

    Iron Creek Resource

    Iron Creek is a high grade underground primary cobalt deposit on patented property in the United States. It currently has an Indicated Resource of 2.2 million tonnes at 0.32% cobalt equivalent (0.26% cobalt and 0.61% copper) for 12.3 million pounds of contained cobalt and an Inferred Resource of 2.7 million tonnes at 0.28% cobalt equivalent (0.22% cobalt and 0.68% copper) for an additional 12.7 million pounds of contained cobalt. The resource estimate used a 0.18% cobalt equivalent cutoff grade.

    Drilling has outlined the strike extent of mineralization to over 900 metres and down-dip to over 650 metres. Mineralization remains open along strike and down-dip, suggesting strong potential for significant future resource growth. Thick mineralized zones of up to 30 metres of true thickness reflect broad stratabound lithological controls.

    Iron Creek mineralization occurs as lenses and pods of pyrite, the dominant phase hosting cobalt, that are primarily concordant to the sedimentary layering in the host rocks. Chalcopyrite, the only copper mineral phase, is disseminated and also occurs as stringers cutting pyrite mineralization within the zone of mineralization.

    The host rocks to mineralization are a finely inter-bedded sequence of siltstone and argillite with intermittent, less than 30cm thick, quartzite layers. Ripple and dune sedimentary structures are well-preserved throughout the mineralized sequence. A higher proportion of quartzite layers have been mapped above and below the mineralized zone at surface marking the stratigraphic hangingwall and footwall to mineralization.

    Idaho Property Cobalt-Copper Mineralization

    Several exposures of cobalt-copper mineralization occur within the property. At Ruby, surface channel sampling along 146 metres of the exposure returned several high-grade values, up to 7.6m of 0.26% Co and 10.7m of 0.24% Co, including 1.5m of 0.48% Co (previously reported October 30, 2019). Ruby is located 1.5 km from the Iron Creek deposit and occurs within a similar host-rock sequence that may be a structural offset to Iron Creek or a separate stratigraphic unit.

    Other exposures of mineralization in the southern portion of the property have not been drilled tested but do demonstrate further potential for future follow-up exploration.

    Iron Creek is one of many cobalt-copper resources and prospects within the Idaho Cobalt Belt where the United States Geological Survey has deemed these resources to be strategically important as a domestic supply of cobalt.


    [​IMG]

    Figure 1. Bedrock geology and surface expression of cobalt-copper mineralization at the Iron Creek deposit and other known exposures of mineralization, including Ruby. The black box outlines the approximate extent of the 2020 geophysical survey.


    Qualified Person Statement
    The contents of this news release have been reviewed and approved by Dr. Frank Santaguida, P.Geo., a Qualified Person as defined by National Instrument 43-101. Dr. Santaguida is a practicing member of the Association of Professional Geologists of Ontario and is employed by First Cobalt as Vice President, Exploration. Quality assurance and quality control standards of cobalt and copper values can be found in the respective press releases previously published.

    About First Cobalt

    First Cobalt owns North America’s only permitted cobalt refinery. Cobalt refining is a critical component to the development and manufacturing of batteries for electric vehicles and forms a foundational piece of the next generation of the North American auto sector and other electrified consumer and industrial applications. First Cobalt owns the Iron Creek cobalt project in Idaho, USA and controls significant silver and cobalt assets in the Canadian Cobalt Camp, including more than 50 past producing mines.

    On behalf of First Cobalt Corp.

    Trent Mell
    President & Chief Executive Officer

    For more information visit www.firstcobalt.com or contact:

    Sabrina Gunness
    [email protected]
    +1.416.900.3891

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Cautionary Note Regarding Estimates of Resources
    Readers are cautioned that mineral resources are not economic mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum's "2014 CIM Definition Standards on Mineral Resources and Mineral Reserves" incorporated by reference into NI 43-101. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for Preliminary Economic Assessment as defined under NI 43-101. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically. An Inferred Mineral Resource as defined by the CIM Standing Committee is "that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration."


    Cautionary Note Regarding Forward-Looking Statements
    This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects', “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for First Cobalt, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
     
    #1 Small time investor, Oct 19, 2020
    Last edited: Oct 19, 2020
  2. TomB16

    TomB16 Well-Known Member

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    This is very interesting.

    Thank you for the thread, STI.
     
  3. Small time investor

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    Latest update 10/29/20:

    First Cobalt Releases Refinery Life Cycle Assessment
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    TSX.V: FCC | OTCQX:FTSSF
    First Cobalt Releases Refinery Life Cycle Assessment
    Carbon footprint 50% lower than benchmark cobalt facility
    First Cobalt Corp. (TSX-V: FCC; OTCQX: FTSSF) (the "Company") is demonstrating its commitment to fighting climate change by releasing results of a life cycle assessment (LCA) affirming the low carbon footprint of its Canadian Refinery. The report concludes that the environmental impacts associated with refining cobalt at First Cobalt’s facility will be materially lower than the published impacts of a leading Chinese refiner. The report is being released in its entirety to demonstrate transparency and a commitment to industry-leading ESG practices.

    Highlights

    • In First Cobalt’s production process, the carbon footprint generated through the production of one kilogram of cobalt sulfate is 1.58 kg CO2 eq compared to 3.25 kg CO2 eq for a benchmark refinery in Tongxiang, China
    • Impact of producing cobalt sulfate at First Cobalt’s Canadian refinery rather than through the existing supply chain is the equivalent of taking more than 9,000 combustion engines off the road every year
    • First Cobalt Refinery has a lower environmental impact in four of six impact categories measured, is equal in one category and is slightly below in a final impact category
    • LCA report provides a roadmap that will help First Cobalt further reduce site-level impacts before the refinery is commissioned
    • Study was funded through a research grant provided by the National Research Council of Canada
    [​IMG]
    Trent Mell, President & Chief Executive Officer, commented:

    “Electric vehicles are an important part of meeting global goals on climate change but consumers are demanding transparency on the environmental footprint of the EV lifecycle. Transparency across the entire supply chain is the best way to ensure that the EV revolution is also a green revolution.

    “We are proud to share the results of a life cycle assessment of the First Cobalt Refinery process and we are committed to using these findings to improve our flowsheet to achieve even higher standards. Industry-leading ESG practices and environmental stewardship are important to us, as they are to our partners and our stakeholders.”
    First Cobalt is committed to the sustainable production of cobalt for its essential role in the manufacturing of electric vehicles. The Company commissioned a gate-to-gate LCA of the First Cobalt Refinery across six areas of impact based on First Cobalt’s refinery expansion feasibility study. Minviro, a London-based consultancy that specializes in life cycle assessments, conducted the study. The intention of the LCA is to quantify and benchmark the potential environmental footprint of the operation and identify opportunities to reduce that footprint prior to the refinery’s expansion and recommissioning.

    The study assesses the life cycle impact of the production of 1 tonne of cobalt sulfate heptahydrate (CoSO4 ·7H2O) converted from cobalt hydroxide. For comparative purposes, results from each category were benchmarked against a leading cobalt refinery in Tongxiang, China.


    Impact per Kilogram of Cobalt Sulfate Produced
    Category
    Measure First
    Cobalt
    Chinese Refiner Impact Reduction
    Global Warming Potential kg CO2 eq. 1.58 3.25 51%
    Eutrophication Potential kg N eq. 0.0068 0.0097 30%
    Smog Potential kg particulate matter 1.4E-7 1.8E-7 22%
    Acidification Potential kg SO2 eq. 0.022 0.022 0%
    Ozone Depletion Potential kg CFC-11 eq. 1.2E-6 1.1 E-6 -9%
    Freshwater Consumption kg water 3.38 12.5 73%

    In four of six impact categories, the First Cobalt Refinery has a lower environmental impact: global warming potential, eutrophication potential, smog potential and freshwater consumption. For acidification potential the impact of the First Cobalt refinery is equal to the acidification potential of the Tongxiang refinery.

    The one category where First Cobalt had a slightly higher impact, was ozone depletion potential, where the values are 9% higher. This is primarily due to the use of sodium hydroxide during the solvent extraction process. The use of sodium hydroxide at the SX stage is a notable contributor for all impact categories and it is also a significant contributor with most of the world’s cobalt refining operations. The Company is studying alternatives to reduce sodium hydroxide consumption and will also seek to identify suppliers of minimum impact sodium hydroxide.

    In 2012, the Cobalt Institute published a LCA study for eight cobalt operations, including processing from sites in Belgium, Canada, DRC, Finland, France, Japan and Zambia. The cobalt refining processes covered in this study are generally hydrometallurgical, similar to the First Cobalt Refinery. The Cobalt Institute covered three of the same impacts included in the First Cobalt LCA: global warming potential, eutrophication potential and acidification potential. Once again, the First Cobalt impacts across each of these categories rank favourably, underlining the Company’s strong ESG potential.

    An important competitive advantage for the First Cobalt Refinery is that its power is drawn from a hydroelectric grid, which is commonplace in Canada. Conversely, electricity from a Chinese grid is mainly coal-powered, which will have a higher global warming potential.

    Freshwater is an environmental indicator rather than an impact category but it was deemed important for this assessment. Mining and refining processes often take place in water stressed regions and the amount of water consumed in the process is frequently an important factor.

    The LCA makes comparative assertions between First Cobalt’s Refinery and Huayou Cobalt Refinery. To ensure that the LCA study is scientifically robust and in accordance with ISO 14040 and ISO 14044, Minviro included a third-party review from industry experts.

    A primary objective of this study is to assist in project development and improvement with a secondary motivation to assist with strategic planning. The intended audience for this study is broad and includes parties across the cobalt value chain, both upstream and downstream.

    First Cobalt is publishing the results because the Company believes it can enrich the discussion on ESG by sharing and clarifying important facts and figures about its intended operations. Through this process, it seeks active dialogue with all interested parties. A copy of the LCA report can be accessed on our website at https://www.firstcobalt.com/responsibility/life-cycle-assessment/.

    About First Cobalt

    First Cobalt owns North America’s only permitted cobalt refinery. Cobalt refining is a critical component to the development and manufacturing of batteries for electric vehicles and forms a foundational piece of the next generation of the North American auto sector and other electrified consumer and industrial applications. First Cobalt owns the Iron Creek cobalt project in Idaho, USA and controls significant silver and cobalt assets in the Canadian Cobalt Camp, including more than 50 past producing mines.

    On behalf of First Cobalt Corp.

    Trent Mell
    President & Chief Executive Officer

    For more information visit www.firstcobalt.com or contact:

    Sabrina Gunness
    [email protected]
    +1.416.900.3891

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Cautionary Note Regarding Forward-Looking Statements
    This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects', “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for First Cobalt, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
     
  4. Small time investor

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    First Cobalt Provides Refinery Project Update

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    TSX.V: FCC | OTCQX:FTSSF


    First Cobalt Provides Refinery Project Update


    First Cobalt Corp. (TSX-V: FCC; OTCQX: FTSSF) (the "Company") today provided an update on commercial contracts and metallurgical test work relating to its cobalt refinery located in Ontario, Canada.

    Highlights

    • First Cobalt and Glencore have agreed to discuss a long-term feed purchase contract rather than the tolling arrangement originally contemplated, providing First Cobalt greater leverage to the cobalt market by entering into offtake contracts with end users directly
    • The maturity date on the Company’s US$5 million loan with Glencore has been extended by one year to August 2022, which better aligns with refinery commissioning
    • Glencore continues to provide support to ensure a technically viable design of the plant and smooth commissioning
    • In order to secure a diversity of supply, First Cobalt will supplement any feed provided by Glencore with other sources of ethical cobalt
    • Bench scale testing of cobalt hydroxide feedstock from Glencore’s Katanga Operation (KCC) yielded recoveries in excess of 97%, significantly higher than the 93% recovery assumption in the Company’s May engineering study
    • Timelines for pilot plant completion and submission of permit amendments remain on track while discussions for government support are well advanced

    [​IMG]

    Trent Mell, President & Chief Executive Officer, commented:


    “The change in approach towards feed purchase contracts results in greater exposure to the cobalt market and potentially a greater share of the project economics outlined in our May 4 engineering study. With the decision to be a market purchaser of feedstock, rather than a toll refiner, the Company has resumed discussions with lenders and intends to move aggressively to advance its strategy. I am very appreciative of Glencore’s ongoing support and look forward to working towards completing a mutually agreeable cobalt hydroxide supply agreement for our refinery. We continue to advance our vision to create a new cobalt supply chain in North America, which will provide excellent leverage to a strengthening cobalt market for First Cobalt shareholders.”


    Securing feed material under a long-term cobalt hydroxide purchase contract, rather than a tolling contract, will allow the First Cobalt Refinery to be an active market participant and achieve market-based returns from its operations. This will also provide First Cobalt shareholders with greater leverage to the cobalt market. With competitive operating costs and strong ESG credentials, the Refinery is very well positioned to become an important global player in the refined cobalt business, a key component in the growing North American and European electric vehicle supply chains.

    Offtake discussions with OEMs and other cobalt sulfate consumers have been very constructive, given strong interest in: (i) a geographically diverse supply chain, (ii) ethically sourced cobalt, and (iii) a low environmental footprint.

    The Company intends to finalize a supply agreement with Glencore on mutually agreeable terms while securing additional feedstock from other miners of ethically produced, high-quality cobalt hydroxide. The Company does not anticipate any difficulties securing sufficient feedstock for the Refinery’s nameplate capacity of 5,000 tonnes per annum of contained cobalt. Moreover, diversification of feedstock supply will help offset the risk of supply interruptions from any single operation.

    The US$5 million debt agreement the Company has in place with Glencore had an original maturity date of August 23, 2021. The parties have amended the loan agreement to extend the maturity date by one year to August 23, 2022. All other terms are unchanged, including Glencore’s right to convert all or a portion of the balance owing to common shares of First Cobalt at a discount to market of up to 15%.

    Cobalt hydroxide feed material from Glencore’s KCC mining operation was received in September, with leaching and neutralization testing performed by SGS ahead of pilot plant test work. Bench scale work yielded cobalt recoveries in excess of 97%, significantly higher than the 93% recovery reported in the Company’s May 4 engineering study. The 97% recovery is similar to recoveries achieved on other DRC cobalt hydroxide feedstock that First Cobalt tested in 2019 to produce battery grade cobalt sulfate. The Company is confident that it will meet or exceed this recovery level as it proceeds to pilot plant testing, which would contribute to even stronger project economics.

    With respect to the Company’s conversations with government, First Cobalt remains optimistic for a positive outcome. The increasing prevalence of electric vehicles in Canada as well as the integrated nature of the North American automotive supply chain place First Cobalt at the center of a generational shift – one that is well aligned with government policy at the Federal and Provincial levels.


    About First Cobalt

    First Cobalt owns North America’s only permitted cobalt refinery. Cobalt refining is a critical component to the development and manufacturing of batteries for electric vehicles and forms a foundational piece of the next generation of the North American auto sector and other electrified consumer and industrial applications. First Cobalt owns the Iron Creek cobalt project in Idaho, USA and controls significant silver and cobalt assets in the Canadian Cobalt Camp, including more than 50 past producing mines.

    On behalf of First Cobalt Corp.

    Trent Mell
    President & Chief Executive Officer

    For more information visit www.firstcobalt.com or contact:

    Sabrina Gunness
    [email protected]
    +1.416.900.3891

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Cautionary Note Regarding Forward-Looking Statements
    This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects', “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for First Cobalt, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
     
  5. Small time investor

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    Currently they are trading around US$0.10 a share. There is talk of either a 5-1 or 7-1 reverse split. For small time investors like me, there would be no value gained or lost because of the split. It might make it easier for them to get financing. However, last time I was caught in a reverse split I was charged a trade transaction. If you are only investing a small amount, then a transaction fee might wipe out the value. It would be better to wait until after the reverse split happens and then invest if you are thinking about this company. I still believe that they will do pretty good in the future. One, maybe two years they should be producing.
     
  6. Small time investor

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    I asked First Cobalt about the reverse split. Here is their response:


    At our most recent AGM, the reverse split motion was tabled authorizing management to proceed with the consolidation. However, if the Board decided to proceed with this measure, we do need prior approval of our shareholders. No decision on this item has been taken at this time.


    Things are still advancing in the right direction. Stay tune for some upcoming catalysts!
     
  7. Small time investor

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    Interview with Trent Mell, president of First Cobalt from 12/06/20:

     
  8. Small time investor

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  9. Small time investor

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    Stock went from $0.1075 to over $0.16 so far today (1:40 EST)
    Avg shares traded has been around 360,000 it's close to 2 million so far today.
     
    Intern shIp likes this.
  10. Small time investor

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  11. Small time investor

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  12. Small time investor

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    Starting to purchase long lead items. Looking good. Their on their way.

    First Cobalt Commences Pre-Construction Activities
    Receives $4.5 Million from Warrant Exercises


    First Cobalt Corp. (TSX-V: FCC; OTCQX: FTSSF) (the "Company") is pleased to announce that it has commenced certain pre-construction activities, including advancing engineering and tendering associated with long lead order procurement.

    Highlights

    • $16 million in working capital, including $4.5 million in early warrant exercises and $9 million in net proceeds from the financing completed January 22
    • In addition to the working capital position, the Company announced a $10 million investment by the Government of Canada and the Government of Ontario towards the refinery capital costs and an additional $4 million in immediate consideration will be received upon closing of a silver transaction announced in December 2020
    • First Cobalt is commencing detailed engineering and procurement for long lead order equipment, notably the cobalt crystallizer as well as solvent extraction and filtering equipment
    • Pilot plant testwork is ongoing to assess further improvements to the refinery flowsheet. Cobalt solvent extraction is scheduled to commence at the beginning of February and is expected to be completed by February 20
    • The Company is negotiating an engineering, procurement, construction and management (EPCM) contract with Ausenco Engineering Canada Inc.

    [​IMG]

    Trent Mell, President & Chief Executive Officer, commented:


    "The commencement of pre-construction activities brings us one step closer to our vision of producing the world’s most sustainable cobalt. Our strong treasury allows us to build a project team and commence procurement and detailed engineering while we complete a debt financing process. 2021 is all about execution.”


    First Cobalt has begun to assemble an owner’s team for project execution to advance the refinery project while discussions for the debt component of the capital project continue to advance. Detailed engineering and procurement for long lead order equipment will allow the Company to remain on track with its project schedule.

    First Cobalt’s treasury continues to strengthen, with recent share price performance resulting in over $4.5 million in early warrant exercises. Certain officers and directors of the company voluntarily exercised warrants to bolster the Company’s cash position. The Company’s working capital stands at approximately $16 million with an additional $14 million expected to come from the government contributions to the project capital costs and the closing of a previously announced transaction with Kuya Silver.


    About First Cobalt

    First Cobalt owns North America’s only permitted cobalt refinery. Cobalt refining is a critical component to the development and manufacturing of batteries for electric vehicles and forms a foundational piece of the next generation of the North American auto sector and other electrified consumer and industrial applications. First Cobalt owns the Iron Creek cobalt project in Idaho, USA and controls significant silver and cobalt assets in the Canadian Cobalt Camp, including more than 50 past producing mines.

    On behalf of First Cobalt Corp.

    Trent Mell
    President & Chief Executive Officer

    For more information visit www.firstcobalt.com or contact:

    Sandy Noyes
    [email protected]
    +1.416.900.3891

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Cautionary Note Regarding Forward-Looking Statements
    This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects', “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for First Cobalt, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
     
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    Oct 19, 2020 $0.12 USD
    Nov 11, 2020 $0.10 USD
    Dec 16, 2020 $0.16 USD
    Feb, 8, 2021 $0.32 USD

    Anybody interested?
     
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    They just bought more Idaho property potentially more than doubling their cobalt reserves.

    https://mailchi.mp/065290438aa8/fir...-for-refinery-expansion-18844421?e=2970414391

    Some of the press release:

    First Cobalt Doubles its Idaho Cobalt-Copper Land Position
    First Cobalt Corp. (TSX-V: FCC; OTCQX: FTSSF) (the "Company") announced that it increased the size of its land position surrounding its Iron Creek Project in Idaho, USA by more than 100%. By acquiring mining claims to the west of its existing cobalt-copper project, the Company expanded its land package to over 1,600 hectares.

    Located in the Idaho Cobalt Belt, the Iron Creek Project is one of the few primary cobalt deposits in the world. The resource remains open westward along strike and down-dip and to date cobalt-copper mineralization has been defined over a 900-metre strike extent.

    HIGHLIGHTS

    • Expanded land package to over 1,600 hectares, spanning approximately 10 km following the Iron Creek host rock horizon, where the potential to find additional cobalt and copper resources is high
    • Drilling at the western portion of the Iron Creek resource intersected higher grade copper mineralization along with typical cobalt mineralization at depth
    • Geophysical signature of cobalt-copper mineralization at Iron Creek has been traced west toward the West Fork Property, highlighting further potential
    • Geophysical surveys will be conducted at the West Fork property to test for cobalt and copper mineralization extensions
    "We believe that the Idaho Cobalt Belt is America’s best opportunity to develop a domestic supply of this critical mineral, which is essential to national and economic security. As we developed our plans for summer exploration and drilling at Iron Creek, the newly acquired property was deemed strategic to our quest to materially increase the size of the Iron Creek Project, both through extensions along strike and the potential for new deposits in a favourable geologic setting,” said President and CEO, Trent Mell.

    “Following a remarkable year of growth in the European electric vehicle market, North America is poised to follow suit. This larger land package is consistent with our strategy of producing the world’s most sustainable cobalt and could help America develop a domestic supply chain with a lower carbon footprint.”
     
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