Followers | 37 |
Posts | 4190 |
Boards Moderated | 0 |
Alias Born | 10/18/2016 |
Monday, November 20, 2017 12:34:19 PM
- Electric vehicle (EV) growth is driving global demand for lithium-ion batteries; cobalt is a key element in their manufacture, with operations consuming almost half of all cobalt mined
- FTSSF focuses on cobalt potential of the Cobalt Camp, including the Silver Banner mine, which shows promise of both cobalt and silver mineralization
- Growth of electric cars could trigger a global cobalt supply deficit by 2025, per FTSSF’s corporate presentation
First Cobalt Corp. (TSX.V: FCC) (OTCQB: FTSSF), a Toronto, Canada-based pure play cobalt exploration company, has identified the Cobalt Camp in Ontario, Canada, as a possible cobalt- and silver-rich mineralization opportunity. In the northern part of the site, the Silver Banner mine recently showed promising results related to the presence of high-grade cobalt.
The reason for this interest is the projected value of cobalt in the future, as demand for green electric vehicles and, consequently, lithium-ion batteries continues to rise (http://nnw.fm/WYne9). Cobalt is vital to the production of lithium-ion batteries. According to the cobalt demand chart in FTSSF’s corporate presentation (see page 25, http://nnw.fm/H0B6a), as early as 2015, approximately 49 percent of cobalt demand came from its use in lithium-ion batteries.
Some key vehicle brands, such as Volvo, have already declared that they will go all-electric in the future, while France and Great Britain have pledged to ban fossil fuel vehicles as early as 2040 (http://nnw.fm/WCy7E). In light of these developments, pricing of cobalt has skyrocketed, more than doubling in recent months to $25 per pound (http://nnw.fm/i7n0X). FTSSF’s corporate presentation notes that market share of electric cars is projected to reach some 25 percent globally by 2030, and that could trigger a cobalt supply deficit by 2025.
In an effort to better capitalize on this demand, FTSSF is pursuing a three-way merger with Cobalt One Limited and CobalTech Mining. If finalized, the merger would result in FTSSF having control over nearly 25,000 acres of prospective land and more than 50 historic mining operations. The transaction would also include a mill facility, fully permitted refinery and other high quality exploration assets.
Recently, a productive vein system was confirmed in the Silver Banner mine area through muck pile sampling. The company sees Silver Banner as an attractive and high priority drilling target for 2018. The next step for the company is shallow drilling near the historic site to learn more about the vein system and the metal content of the veins.
Trent Mell, FTSSF president and CEO, said that there are several prospective cobalt-rich targets within the First Cobalt, CobalTech Mining and Cobalt One Limited land packages. “The next task is to prioritize these targets for more focused exploration work and drilling through the winter months,” Mell stated in a news release.
For more information, visit the company’s website at www.FirstCobalt.com
Recent ELBM News
- Electra and Eurasian Resources Group Sign Cobalt Supply Agreement • Business Wire • 04/02/2024 11:00:00 AM
- Electra Receives Extension from NASDAQ to Resolve Minimum Price Requirement • Business Wire • 03/21/2024 08:40:00 PM
- Electra Provides Corporate Update • Business Wire • 03/13/2024 11:00:00 AM
- Electra Provides Corporate Update • Business Wire • 02/27/2024 11:26:00 PM
- Electra Participating in Upcoming North American Critical Minerals Industry & Investment Events • Business Wire • 02/24/2024 01:00:00 PM
- Electra Provides Corporate Update • Business Wire • 02/13/2024 12:23:00 AM
- Electra Receives $5 Million Grant from Government of Canada to Support the Development of the North American Electric Vehicle Supply Chain • Business Wire • 02/09/2024 08:10:00 PM
- Electra Provides Update on Black Mass Recycling • Business Wire • 02/05/2024 12:00:00 PM
- Electra Appoints Heather Smiles as Vice President, Investor Relations & Corporate Development • Business Wire • 01/15/2024 12:00:00 PM
- Electra Appoints 30-year Finance Veteran as CFO and Provides Financing Update • Business Wire • 12/29/2023 01:13:00 PM
- Electra Appoints Metallurgist with 30 Years of Experience as VP of Technology • Business Wire • 12/05/2023 12:00:00 PM
- Electra Announces Proposed Amendments to Outstanding Warrants • Business Wire • 12/01/2023 10:00:00 PM
- Electra and Rock Tech Lithium sign Lithium Recycling MOU for North American Market • Business Wire • 11/28/2023 12:00:00 PM
- Electra Reports Q3 2023 Results and Provides Update on Battery Material Refinery Project • Business Wire • 11/16/2023 10:00:00 PM
- Electra Provides Notice of Third Quarter 2023 Results Conference Call and Webcast • Business Wire • 11/16/2023 03:30:00 PM
- Electra Postpones Third Quarter 2023 Results Conference Call and Webcast • Business Wire • 11/14/2023 01:45:00 PM
- Electra Provides Notice of Third Quarter 2023 Results Conference Call and Webcast • Business Wire • 11/10/2023 12:00:00 PM
- Electra Announces Voting Results of its 2023 Annual Meeting of Shareholders • Business Wire • 10/25/2023 09:30:00 PM
- Electra Provides Update on Cobalt Refinery Project • Business Wire • 10/23/2023 11:00:00 AM
- Electra to Host Annual Meeting of Shareholders on October 24 • Business Wire • 10/16/2023 11:00:00 AM
- Electra Extends Processing of Black Mass Material Based on Successes of Its Battery Recycling Trial • Business Wire • 10/02/2023 11:00:00 AM
- Electra Receives NASDAQ Notice on Minimum Price Deficiency • Business Wire • 09/22/2023 09:01:00 PM
- Electra Provides Notice of Change of Auditors • Business Wire • 09/19/2023 09:35:00 PM
- Electra Reports Q2 2023 Results and Provides Update on Cobalt Refinery Project and Black Mass Recycling Trial • Business Wire • 08/17/2023 09:01:00 PM
- Battery Materials Stock Steals The Show • AllPennyStocks.com • 07/25/2023 09:35:00 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM