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Last Post: 6/21/2017 3:49:59 PM - Followers: 12 - Board type: Free - Posts Today: 0

The Cobalt Company

GVCM.OB                                   www.geovic.net/                                   GMC.TO

Quote from this board's founder - "GEOVIC will soon be the largest miner of COBALT in the world. Watch this one folks... "



 

Geovic Mining Corp (GMC) has discovered the world’s largest primary resource of cobalt located in Cameroon, about 640 kilometers east from the seaport of Douala. Geovic Mining Corp is a Toronto Exchange (TSX:GMC) and U.S. Over-the-Counter Bulletin Board (OTC.BB:GVCM) listed cobalt mining company based in Grand Junction, Colorado that owns 60% of Geovic Cameroon PLC (GeoCam). GeoCam is a private Cameroonian corporation that has exclusive rights and 100% ownership of a 1,250-square kilometer Mining Permit that covers the entire cobalt-nickel province.
GMC's unique mineral deposits facilitate the use of inexpensive, yet highly efficient concentration and hydrometallugical processing methods, unlike those of any other cobalt-nickel project in the world. As a result, projected capital costs will be low, operating costs will be globally competitive and financial performance will be exceptional. The cobalt mining company’s extensive resources in six other deposits on the mine permit will allow substantial expanded production for numerous decades.
Additionally, through its wholly-owned subsidiary Geovic Energy, the company is engaged in the strategic acquisition, exploration and development of other mineral properties.  Through late 2008, the company has leased and/or acquired acreage and is performing due diligence seeking the potential to find significant quantities of uranium, gold, copper, chromite, manganese, oil & gas in Arizona, Colorado, Oregon, New Mexico, Wyoming, and internationally.


Corporate Responsibility

Geovic Mining Corp (GMC) is committed to sustainable development and social responsibility. By this we mean that our long-term welfare is directly related to the welfare of the people and communities in the areas where we operate. In the end, these are the people who should be the main beneficiaries of our cobalt mining activities.

We expect to leave behind the capacity for a better future for our hosts. This commitment encompasses the following values:

  • Treating all parties with equity and respect;
  • Promoting transparent business relationships;
  • Building trust through partnerships with stakeholders;
  • Understanding and respecting the rights of indigenous peoples to retain their culture, identity, customs and traditions;
  • Developing self reliability through compassionate education and training; and,
  • Demonstrating creativity, integrity and excellence in all our endeavors.


GMC is also committed to excellence with regard to the environment. We recognize and embrace the concept that sound environmental management is essential for our business.

Understanding, minimizing and mitigating all environmental impacts, as well as using all resources prudently and efficiently, is critically important to GMC. We pledge to conduct our activities in a manner that safeguards all the resources under our stewardship, whether they are minerals, forests, water, land or air.

The best way to reduce the effects of our operations on the environment is to disturb as little of it as possible. We will implement sustainable development initiatives that meet present needs without compromising those of future generations.

In Cameroon, GMC is developing an understanding of how the interplay of social, ideological, environmental and economic factors affects the fragile balance of the country's ecosystem. GMC is developing its GeoAid (“Earth Aid”) program to ensure that sustainable and high quality environmental and socio-humanitarian standards are an integral and essential component of the Company's mining operation. This program is more fully outlined in the document "Geovic, GeoAid and the Environment."




 

Geovic Officers & Directors - Geovic Mining Corp.

Wade Nesmith
Chairman
John E. (Jack) Sherborne
Chief Executive Officer, Director
David C. Beling
Executive Vice President,
Chief Operating Officer
Barbara A. Filas
Executive Vice President,
Corporate Development & Chief Administrative Officer
William A. Buckovic
Executive Vice President, Exploration, Director, Founder
 
Greg Hill
Senior Vice President,
Chief Financial Officer
Gary R. Morris
Senior Vice President, President Geovic Mineral Sands
Conrad Houser
Senior Vice President,
President, Geovic Energy
Alan W. Peryam
Senior Vice President, General Counsel
Andrew C. Hoffman, CFA
Vice President, Investor Relations
 
Diane Hartnett
Corporate Controller
Shelia I. Short
Corporate Secretary
Michael Goldberg
Director
John T. Perry
Director
Robert J. (Don) MacDonald
Director
Gregg Sedun
Director
Michael T. Mason
Director


 GeoCam Officers and Directors

Greg Hill
Chairman
Richard Howe
General Manager, Director
Moger Jean Claude Ayem
Director
David C. Beling
Director
Ambroise Ondoa Onana
Director
 
Anita Efoua Mbozo'o
Deputy General Manager

 

Pierre-Marie Noah
Procurement, Logistics
 
Patrick Holmes
Finance, IT


 

Committee Charters of Geovic Mining Corp



 

 

Corporate Information for

         
 

Geovic Mining

Corporate Head Office

Geovic Mining Corp
1200 17th Street, Suite 980
Denver, CO 80202
United States

Telephone: 303.476.6455
Fax: 303.476.6456

Operations Office

Geovic Mining Corp
743 Horizon Court, Suite 300A
Grand Junction, CO 81506
United States

Telephone: 970.256.9681
Fax: 970.256.9241

Corporate Info

Exchange: TSX Exchange
Symbol: (TSX.GMC)
Fiscal Year-End: December 31
CUSIP Number: 373686 10 4

  Registered Office

2711 Centerville Road, Suite 400
Wilmington, Delaware 19808
United States

Auditor

Ernst & Young LLP
700 West Georgia
PO Box 10101
Vancouver, BC
Canada V7Y 1C7
Telephone: 604.891.8200
Fax: 604.643.5422
Toll Free: 1.888.283.9867

Transfer Agent 

Computershare Trust Company of Canada
2nd Floor
510 Burrard Street
Vancouver, BC
Canada V6C 3B9
Telephone: 800.564.6253
Fax: 604.661.9401

Email: service@computershare.com
Website: www.computershare.com



 

Know the Management

         

Know the News

http://www.geovic.net/biographies.php   http://www.geovic.net/news.php


 

Cobalt Mining & Cobalt Demand

Cobalt is an element that has many diverse and critical uses.  In most applications, substitution for cobalt yields lower product performance.  Below are cobalt’s most common usages.

2007 Global Cobalt Use(1)

% of Market

Batteries - Cell phones, computers, hybrid vehicles, portable tools, etc.

25

Super Alloys - Turbine blades, mainly jet engines

22

Chemicals - Includes pigments and dyes

26

Wear Resistant Alloys - Hard facing and cobalt carbide

12

Catalysts - Includes Gas-to-Liquid conversions

9

Magnets - High performance applications

6

Cobalt in rechargeable batteries is the fastest growing use, and notably in 2007 the percentage of cobalt use for rechargeable batteries rose to 25% of total cobalt demand from 22% in 2006.  Nickel metal hydride and lithium-ion batteries both contain cobalt and are used in hybrid electric vehicles (HEVs), computers, cell phones, portable tools, audio/visual units, and numerous electronic devices.  The fastest growing segment of battery applications is for HEVs, which reduce air pollution and fuel consumption by at least 50% compared to conventional vehicles.  The HEV “plug-in” option is even more environmentally friendly, and includes an extra cobalt-bearing battery that can be charged from electrical outlets and achieve fuel economies that exceed 100 miles per US gallon.  In the US, roughly one-third of all CO2 emissions come from transportation sources.

The Toyota Prius HEV was named 2004 Motor Trend Car of the Year and 2005 European Car of the Year.  The one millionth unit was sold in April 2008, and Toyota estimates sales of one million hybrid vehicles annually "as early as possible in the 2010s".  In the next few years, the Company plans to offer all Toyota and Lexus models as hybrids.  General Motors, Ford, Daimler-Chrysler, Mercedes, and others are attempting to catch up with Toyota’s hybrid success.  Nearly all current HEVs use nickel-metal hydride batteries that contain about 22 pounds of nickel and 3 to 5 pounds of cobalt. Lithium-ion batteries containing 5 to 7 pounds of cobalt and little or no nickel are expected to dominate future HEV markets because they charge in minutes rather than hours and offer many other economic and technical advantages.  Global production of HEV’s in 2007 was about 400,000-500,000 units, and is estimated to increase to 8 million units by 2015(2), thereby increasing annual cobalt demand by nearly 22,000 tonnes/year.  In 2006, the world produced 69 million conventional cars and light trucks, and is expected to produce over 80 million units by 2015.

Cobalt Supply and Demand

The cobalt market is dynamic but small in comparison with other base metals. Consumers purchase cobalt through negotiated agreements, bids, and open markets from producers, traders and to a lesser degree, government stockpiles and private inventories. Approximately 48% of the world’s 2007 cobalt mined was a byproduct of nickel from sulfide and laterite deposits. An additional 37% was produced as a byproduct of copper operations, mainly in the Democratic Republic of the Congo (DRC) and Zambia.  The remaining 15% of cobalt mining came from primary producers.

Several new projects are deemed to be sufficiently advanced and financed to produce significant quantities of cobalt in 2009-10 (mainly as a byproduct), including those listed below.  However, until that time cobalt demand is expected to significantly exceed production due to limited new production and the absence of stockpiles.  Additional projects may also come on stream in the intermediate term, however political and logistical issues in the DRC may endanger the viability of some of the larger projects.

Major New Projects

Start Up Year


Country

Annual Prod.
Cobalt Tonnes

Tenke Fungurume

2009

DRC

4,000

Talvivaara

2009

Sweeden

2,500

Goro

2009

New Caledonia

1,500

Kamoto

2010

DRC

1,000

Katanga

2011

DRC

1,000

Camec

2011

DRC

1,000

Nama

2011

Zambia

1,000

Idaho

2011

U.S.

1,000

Total

n/a

 

13,000

Cobalt consumption in 1995 was only 24,000 tonnes, but grew to 60,800 tonnes in 2008, for a compound annual growth rate (CAGR) of 7.4% for the 13-year period. 

Geovic's preliminary estimate for 2009 world demand is 52,600 tonnes, or a 13% decrease from 2008 demand, principally due to the impact of the global economic crisis in the first half of the year.  On the supply side, Geovic estimates that 2009 cobalt production will fall by approximately 5% compared to 2008, to around 53,000 tonnes. 

In the chart below, actual world supply and demand data from external sources are used through 2008, whereas the projections from 2009 through 2015 are based on an 11% CAGR (principally due to the "catch-up effect" following the aforementioned significant demand decline in 2009).  The combination of production from existing mines and new production is expected to yield 10% CAGR between 2008 and 2015, however the aforementioned demand growth is expected to yield a relatively tight supply/demand balance during that period. 

 

World Cobalt Supply

 

Source: Actual supply and demand by USGS, The CDI and other independent research groups. Projections after 2008 were developed by Geovic.

Roskill Consulting, an international group that researches mineral industry information, estimates growth in demand by 2011 in a most likely case to be 72,500 tonnes(3). However, this forecast could be considerably understated given the exponential growth in batteries for hybrid vehicles and new demand from emerging markets such as China and India.

Global cobalt consumption by country and the increase for the four-year period ending 2006 is shown below(4).

Tonnes Cobalt


Country

2002

2006e

% Change

Europe

11,100

13,730

24

Japan

7,250

12,300

70

China

4,300

11,000

156

USA

9,250

11,450

24

Other

5,200

7,520

45

Total

37,100

56,000

51

The table below shows approximate production of refined cobalt and reserves and resources by country.

Refined Cobalt Production in 2007 & Reserves(4).

Country

Mine Production

Tonnes x 1000
Reserves

Tonnes x 1000
Reserve Base*

Australia

3,700

1,500

1,800

Brazil

1,150

29

40

Belgium

2,900

   

Canada

5,650

120

350

China

13,250

72

470

DRC

600

3,400

4,700

Cuba

3,900

1,000

1,800

Finland

9,100

 

          

France

300

   

India

1,000

   

Japan

1,100

   

Morocco

1,600

20

n/a

New Caledonia

0

230

860

Norway

4,000

   

Russia

3,600

250

350

South Africa

250

   

United States

0

33

860

Uganda

700

   

Zambia

4,600

270

680

Other

 

180

1,100

Total

53,500

7,100

13,000

*includes reserves plus measured and indicated resources

There are no published statistics on world use of cobalt scrap, but the USGS estimates 2006 U.S. scrap consumption was about 25% of reported US consumption.

Prices
Cobalt prices fluctuate significantly in response to world events and changes in the overall supply/demand balance.  Historically, cobalt prices have had limited transparancy, although quotes can be found from sources such as Platt's Metals Bulletin and www.minormetals.com.  In late 2009, or early 2010 the latest, the London Metals Exchange (LME) plans to launch the first-ever cobalt futures contract, which should materially improve such transparancy.

As of April 2009, the 3-year and 20-year average prices of 99.8% cathode cobalt are approximately $18/lb. and $28/lb, respectively.  

Footnotes
Much of the project and cobalt market data in this report were obtained from the four sources below:

(1)The Cobalt Development Institute, www.thecdi.com.
(2) Credit Suisse Metals & Mining report, 04-02
(3) The Economics of Cobalt, 11th Ed., 2007 by Roskill Information Services Ltd., www.roskill.co.uk
(4) USGS website, http://minerals.usgs.gov/minerals/pubs/ commodity/cobalt/.www.sfp-metals.co.uk

References
Cobalt market data, publications and related services may also be obtained from other
sources, including:

Disclaimer
This document contains certain forward-looking statements and projections estimated by Geovic personnel regarding future production, metals markets, competition, capital spending, earnings, cash-flow, commodity prices, resources and other considerations. The statements are based upon Geovic’s current expectations and beliefs, and are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those presented herein. Any use of this document is at the sole risk of any party that so relies.



 The Daily View

The Weekly View


COBALT IN DEPTH

Cobalt links from LinksMine - InfoMine's Library of Mining Web Sites
 
Site Listings


Geovic Energy

Geovic Energy, a wholly owned subsidiary of Geovic Mining Corp. (TSX.GMC, OTCBB.GVCM), aims to become a major energy and metals mining company, targeting project opportunities in the U.S. and international markets.

The Company is developing uranium mining projects in the United States, having leased uranium properties in the Cheyenne-Denver Basin of northeastern Colorado and the Wyoming Red Desert Region, as well as gold/uranium properties in the Whetstone Mountains near Tucscon, Arizona, and three oil and gas projects in Wyoming.

Moreover, other mining interests are being pursued in various metals, mining, and energy markets worldwide. 

 http://www.geovicenergy.com/


  

 

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PostSubject
#176   Cobalt prices are highest in many years... Pro-Life 06/21/17 03:49:59 PM
#175   Lots of recent volume... Capitulation? GVCM Pro-Life 07/14/14 09:05:31 PM
#174   I wonder if this is going to fly... GVCM Pro-Life 07/11/14 10:28:49 PM
#173   ~GVCM~ Buying 02-0210 SILVERISTHENEWGOLD 07/07/14 11:33:03 AM
#172   Does anyone know what is going on? jw503 06/13/14 12:07:16 PM
#171   "Geovic Cameroon Plc Agrees to a Definitive Agreement jw503 08/01/13 04:16:06 PM
#170   Plunging World Metal Prices, Lack of Financing Hurt b4atf 06/12/13 03:14:08 PM
#169   Hi ut, the reserves are proven. GVCM just b4atf 03/21/13 12:48:37 PM
#168   Anyone have a clue what's going on with utvolsfan13 03/21/13 12:36:10 PM
#167   If Geovic would ever start mining it would b4atf 12/24/12 01:07:36 PM
#166   Agreed jw, this needs get moving. b4atf 10/16/12 04:24:32 PM
#165   We are approaching the end of 2012. jw503 10/16/12 04:14:04 PM
#164   They published some stuff from the presentations at downsideup 07/02/12 01:45:54 AM
#163   Still struggling to come off the bottom... Pro-Life 06/23/12 06:20:16 PM
#162   I hope it is accurate as well, but jw503 06/22/12 04:22:20 PM
#161   http://www.asianmetal.com/metal_cron/index_lunshi_jiangwu_en.shtml downsideup 06/14/12 09:03:39 PM
#160   http://www.mining-journal.com/company-news/jiangxi-rare-earth-and-metals-tungste downsideup 06/14/12 09:03:17 PM
#159   Here's the whole thing: downsideup 06/14/12 07:42:56 PM
#158   Good news that I am hoping is accurate ... duckpond 06/13/12 06:37:03 PM
#157   I hear ya. Don't think anything will jw503 06/04/12 04:07:52 PM
#156   No news jw, I am just discouraged. Geovic b4atf 06/04/12 02:35:31 PM
#155   What makes you say this? Why today? jw503 06/04/12 02:11:27 PM
#154   Geovic may be a goner. Very sad too b4atf 06/04/12 10:02:33 AM
#153   It has sure been a tough year for longs. b4atf 04/20/12 09:55:49 PM
#152   -25.00%... did we see capitulation? Pro-Life 04/20/12 09:51:36 PM
#151   Scoreboard for the week: +5.88% Pro-Life 01/21/12 06:25:02 AM
#150   Big gap up yesterday: +12.12% Pro-Life 01/04/12 08:06:37 AM
#149   For the week: an astounding -19.15%... a new Pro-Life 12/09/11 06:06:27 PM
#148   agree..bi lo sell hi Chachingxx 12/09/11 02:33:14 PM
#147   i agree and am gsfl 12/07/11 03:16:57 PM
#146   I no sooner mention dropping cobalt prices and Pro-Life 12/07/11 03:05:10 PM
#145   That makes this the perfect time to accumulate. gsfl 12/07/11 02:44:57 PM
#144   It is very small since most of geovic's b4atf 12/05/11 05:39:40 PM
#143   WHat is production cost? Chachingxx 12/05/11 05:35:26 PM
#142   The bigger issue: cobalt prices are collapsing to Pro-Life 11/22/11 08:50:09 AM
#141   Please identify how stock price will rise with Chachingxx 11/22/11 07:30:22 AM
#140   In the past four months .30 has acted SPM555 11/14/11 11:02:01 PM
#139   Geovic stock has had some large upticks since duckpond 11/09/11 03:23:54 AM
#138   JXTC TO BUY GEOVIC darkhorse2 11/09/11 12:56:49 AM
#137   How close are they to getting financing? Chachingxx 11/03/11 07:36:50 AM
#136   Gee, is that up 30 percent? Hmmnn. b4atf 11/01/11 03:51:53 PM
#135   The bottom is in. b4atf 10/26/11 08:10:36 PM
#134   Geovic does not really even need to mine. b4atf 08/30/11 12:20:37 PM
#133   Cobalt is so under the table. Nice to b4atf 08/30/11 12:13:55 PM
#132   One last dip... I am a buyer at Pro-Life 08/21/11 03:35:43 PM
#131   Wish we could get some news. b4atf 08/20/11 03:33:28 PM
#130   Any news from investor information meeting? Cliff_Barnes 07/10/11 07:55:14 AM
#129   I am quite certain the bottom is in Pro-Life 06/29/11 09:43:15 PM
#128   US Under-Secretary Carson Wants More US Investment In b4atf 06/29/11 07:24:55 PM
#127   A summer of opportunities... in my belief. Best Pro-Life 06/16/11 10:58:20 PM
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