Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
First Cobalt Geophysical Survey Identifies New Drill Targets at Idaho Project
https://www.firstcobalt.com/news/news/first-cobalt-geophysical-survey-identifies-new-drill-targets-at-idaho-project
First Cobalt Studies Battery Recycling for Nickel, Copper and Cobalt Recovery
https://www.firstcobalt.com/news/news/first-cobalt-studies-battery-recycling-for-nickel-copper-and-cobalt-recovery
First Cobalt Strengthens Leadership Team
https://www.firstcobalt.com/news/news/first-cobalt-strengthens-leadership-team-
I agree with you. This is why we are holding and waiting for them to start refining cobalt into cash. Plus they also have the silver mine which they are going to get some royalties from. That is gravy for us.
Absolutely true. Trading is a form of gambling and if you can't afford to lose any money you shouldn't be trading. When you play a stock like this you are taking a chance.
I do own first and have been holding for a few years. It is finally starting to pay me back. I think we will start seeing a pretty good return come the end of 2022. The refinery is scheduled to be fully operational mid 2022. Give it another quarter to start producing and start generating some revenue.
Well said. Nice bump today.
What we need is new management. I voted against the board and issuing new shares. Make them work for it and figure it out on there dime.
First Cobalt: Rising Chinese Restrictions Could Be A Net Benefit To The Company
https://thedeepdive.ca/first-cobalt-rising-chinese-restrictions-could-be-a-net-benefit-to-the-company/
I read it will be fully operational mid 2022. I'm guessing at that point, it will be able to produce the 5 tonnes.
You are correct. We just need time, patience and exposure to larger funds/investors.
First Cobalt Commences Pre-Construction Activities
https://www.firstcobalt.com/news/news/first-cobalt-commences-pre-construction-activities
Roth Capitol raised the price target to $2.25. Not sure if this is the reason, but considering this pos never rises, it may have something to do with it.
First Cobalt Achieves Key Milestone with Refinery Feedstock Arrangements
https://www.firstcobalt.com/news/news/first-cobalt-achieves-key-milestone-with-refinery-feedstock-arrangements
I would like to say by the end of this year. We have a few catalyst down the road that need to kick in. As we get closer to them kicking in, the stock will start to move. Once the refinery and the mining in idaho come online, and we get a few agreements for the sale of the cobalt, we will sky rocket.
Of course this is only my opinion.
Be patient and let's all hope for the best.
We had a strong year end finish. I hope we can keep it going into 2021. I think we will be in a better position this time next year.
Good find. Hopefully they can get this going in the mfg world.
First Cobalt Signs Letter of Intent with Kuya Silver for Cobalt Camp Exploration Assets
https://www.firstcobalt.com/news/news/first-cobalt-signs-letter-of-intent-with-kuya-silver--for-cobalt-camp-exploration-assets
All of us long term holders would be very happy with $5. I told my buddy a few months ago about this stock. He uses Robinhood and couldn't buy it thru them. I showed him yesterday's run and he is kicking himself.
I thought for sure profit takers would come in and it would go back down. Hopefully this news have us some good exposure and people start picking up the stock.
I hope you are right on the pps. I think our investment and patience will payoff if 5 years. This is what I'm giving myself as a timeline.
Yes it is. I've been holding for 3 years now. It's nice to see it have a bit of life.
First Cobalt Receives $10 Million Investment from Federal and Provincial Governments
https://www.firstcobalt.com/news/news/first-cobalt-receives-10-million-investment-from--federal-and-provincial-governments
First Cobalt Begins Geophysics Survey in Cobalt Camp
https://www.firstcobalt.com/news/news/first-cobalt-begins-geophysics-survey-in-cobalt-camp
First was mentioned in this article.
My Top 2 Battery Metal Miners For Lithium, Cobalt, Nickel; 1 For Graphite And Manganese
https://seekingalpha.com/article/4389090-top-2-battery-metal-miners-for-lithium-cobalt-nickel-1-for-graphite-and-manganese
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
?
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
info@firstcobalt.com
Tesla's Potential North American Battery Metals Supply Chain Contenders
First Cobalt got a mention in this article. Noting big, but thought to share it.
https://seekingalpha.com/article/4383766-teslas-potential-north-american-battery-metals-supply-chain-contenders
First Cobalt Begins Geophysics Program at Idaho Project
https://www.firstcobalt.com/news/news/first-cobalt-begins-geophysics-program-at-idaho-project
First Cobalt Announces 13% Operating Cost Reduction for Canadian Cobalt Refinery Project
View this email in your browser
TSX.V: FCC | OTCQX:FTSSF
First Cobalt Announces 13% Operating Cost Reduction
for Canadian Cobalt Refinery Project
First Cobalt Corp. (the "Company") today provided an update on its ongoing engineering studies for its permitted cobalt refinery in Ontario, Canada. The Company now estimates operating costs of $2.36 per pound of cobalt produced, which represents a 13% reduction that improves refinery margins, enhances project economics, and further solidifies the Refinery’s global competitiveness.
KEY HIGHLIGHTS
Operating costs estimate reduced from $2.72/lb of cobalt produced to $2.36/lb of cobalt produced, resulting in approximately $4 million of increased annual pre-tax cash flows compared to results in the May 4 engineering study
Updated capital estimate of $60 million compared to $56 million in the original engineering study
$41 million in undiscounted pre-tax free cashflow to the Project forecasted during the first full year of production
Glencore and First Cobalt have established a Joint Technical Committee that continues to work on further technical and cost enhancements to the refinery.
Final permit amendments and closure plan on track to be submitted before the end of the year
Financing process has moved to phase 2 and the Company is assessing several third-party financing proposals as discussions continue to advance with the private sector and government agencies
The latest engineering work reinforces the value of the First Cobalt Refinery and the long-term value proposition for investors. With a competitive operating cost structure and improved cash flows, the Refinery clearly establishes itself as an important component of the growing North American electric vehicle supply chain.
All amounts in this news release are in US dollars unless otherwise indicated. The engineering study assessed the project economics of the Refinery on a stand-alone basis, assuming a 70% payability factor on the cobalt content of a cobalt hydroxide feed source based on expert forecasts for future payability levels. In order to secure the capital required and a reliable feed source, First Cobalt and Glencore are expected to negotiate terms of a two- to five-year tolling agreement and financing arrangement. As such, the cash flow generated from the Refinery will be shared between the parties and remains subject to ongoing discussions.
On May 4, First Cobalt released results of an engineering study demonstrating strong project economics for significant expansion to First Cobalt’s permitted Canadian refinery for what would become North America’s only producer of battery-grade cobalt for EV manufacturers. The study estimated the Refinery could produce 5,000 tonnes of cobalt per year, resulting in 25,000 tonnes of cobalt sulfate product for EV batteries.
The Company then commenced an optimization program targeting several opportunities to improve the project economics, including higher cobalt recoveries, extending the life of the dry-stack tailings facility and assessing alternative approaches to managing elevated levels of sodium sulfate in effluent.
Glencore and First Cobalt established a Joint Technical Committee to assess these areas and other opportunities identified by Glencore’s processing team. The Committee is comprised of representatives from First Cobalt, Ausenco, Glencore, Glencore Technology and XPS, all of whom have extensive experience in mineral processing, refining and operations.
The significant improvement in operating costs reported today are the result of an alternative approach to managing sodium sulfate in effluent. SGS has commenced new leach tests, that are expected to yield much higher recoveries that the 93% reported in the May 4 engineering study. Receipt of cobalt hydroxide feed material from Glencore’s KCC mining operation was received one week ago, owing to COVID-related logistical delays. This in turn, has delayed the commencement of the continuous pilot plant, which will be underway in the coming weeks in consultation with the Joint Technical Committee.
A process led by CIBC to identify third party debt financing partners resulted in numerous proposal submissions, of which several have been retained for further discussion. Conclusion of the financing arrangement and a Glencore commercial contract is not expected until pilot plant work and other project enhancements have progressed.
All parties remained committed to creating a world-class project. As the only permitted cobalt refinery capable of serving the North American EV market, the project continues to be viewed as a strategic North American asset with a first mover advantage to capitalize on a growing battery supply chain in North America and Europe.
Trent Mell, President & CEO, added:
“The Joint Technical Committee recently formed with Glencore has supported our ongoing work on refinery tradeoff studies and identified new opportunities that First Cobalt is now studying. We continue to work on a commercial contract while we pursue additional project optimization work with a global team of engineers and operators that has presented opportunities to First Cobalt to deliver improved project economics.
Our goal is to commission a world-class, globally competitive refinery for the European and North American EV markets and it is imperative that we look at every opportunity to ensure our success."
Project Enhancements
A significant component of total operating costs in the original study, representing a cost of $0.85/lb, involved production, handling, and off-site storage of a mixed sulfate waste product. This waste product consisted primarily of sodium-sulfate. Given the large cost associated with managing this product, it was a primary target for the current work program. The revised approach is to refine the mixed sulfate waste product into a commercial grade sodium sulfate. Sodium-sulfate is a chemical used in a variety of industrial processes and as an additive in consumer goods. The current study took the conservative approach of assuming that this commercial grade product would simply be given away and therefore would not generate any revenue thus removing a large degree of market uncertainty for this stream. Depending on market conditions at the time of start up, it is conceivable that sales of this product could produce a small revenue stream.
The original study identified a total phase 1 tailings capacity of 17 years of which only the first 11 years were considered in the economic evaluation. The current study incorporated the full phase 1 capacity, resulting in 13 years of tailings life due to extra tailings being produced as a result of producing a commercial grade sodium sulfate. The process that produces the commercial grade sodium sulfate itself makes additional tailings. The Company owns another tract of land immediately adjacent to the phase 1 area which could provide an additional 13 years of dry-stack tailings capacity.
One of the major new pieces of equipment required for the production of cobalt sulfate is a crystallizer. The crystallizer and associated equipment are another area that was examined in the current study due to its large cost. Working with vendors already engaged on this project, we have been able to identify an alternate crystallizer supplier. The crystallizer that has been incorporated into the updated study is approximately $1M less expensive and expects to achieve production of the higher quality “heptahydrate” form of cobalt sulfate.
Permitting
Regarding the ability of First Cobalt to legally operate the Refinery under the current regulatory regime in Ontario, three environmental approvals and a closure plan amendment are required. The Air Environmental Compliance Approval (Air ECA) and Industrial Sewage Works Environmental Compliance Approval (ISW ECA) have been submitted, approved and amended from time-to-time by previous owners of the Refinery and remain in good standing for historical throughput levels. The Permit to Take Water (PTTW) is the third environmental approval and requires renewal from time-to-time. A new PTTW application was submitted in March 2020 and is expected to be received in Q4.
For the expansion scenario envisioned by the engineering study, the Air ECA, ISW ECA and the Closure Plan will all require amendment to reflect the new operating and environmental regimes. The permit amendment applications are on track for submission before the end of 2020. Based on the feasibility work conducted to date, no hurdles have been identified which would compromise the approval of these applications. Indigenous Community and public consultation will be continuing throughout the ongoing scoping studies and the approval process.
Pilot Plant Testing
The Company has received additional cobalt hydroxide material from Glencore’s KCC mining operation in the Democratic Republic of Congo (DRC) to perform continuous pilot plant testing. The pilot plant will focus on both the leaching and solvent extraction processes, to both increase cobalt recoveries and as part of standard procedures to reduce any process risk prior to construction. SGS has commenced new leach tests, that are expected to yield much higher recoveries that the 93% reported in the May 4 engineering study. Cobalt hydroxide feed material from Glencore’s KCC mining operation was only received one week ago, owing to COVID-related logistical delays. This in turn, has delayed the commencement of the continuous pilot plant, which will be underway in the coming weeks in consultation with the Joint Technical Committee. The pilot plant test work is expected to be completed in Q4 2020.
Next Steps
The Company expects to continue to advance and de-risk the Project by pursuing the following activities:
Complete all technical optimization programs, with assistance from Glencore’s technical team
Complete continuous pilot plant test work on the leaching and solvent extraction circuits and produce battery grade cobalt sulfate product
Submit the required permit amendments to operate at the expanded 55 TPD throughput rate
Continue to pursue opportunities to further reduce operating costs
Upon completing the activities noted above, a commercial contract and financing package will be finalized prior to a formal construction decision. The financing process, being led by CIBC, has progressed to phase 2. The Company received numerous initial proposals to fund the refinery capital costs and has now selected several of these to move to the next phase of due diligence.
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 a cobalt project in the United States 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
info@firstcobalt.com
+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, which relate to the proposed development of the First Cobalt Refinery, the intended processing of cobalt hydroxide feedstock at the First Cobalt Refinery and the ability to secure financing and feedstock materials necessary to commence production at the First Cobalt Refinery. 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.
Facebook
Twitter
LinkedIn
Website
YouTube
Copyright © 2020 First Cobalt Corp, All rights reserved.
You are receiving this email because you signed up for First Cobalt's news on our website.
Our mailing address is:
First Cobalt Corp
176 Yonge Street, 6th Floor
Toronto, Ontario M5C 2L4
Canada
Add us to your address book
Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list
image
First Cobalt Comments on Tesla Battery Day
First Cobalt Corp. (the "Company") President & CEO Trent Mell released the following statement in response to Tesla Battery Day announcements:
On Tesla’s Plans to Make its Own Batteries
"If you don’t control your battery technology and raw materials supply chain, you will get left behind. Simply put, the supply of EVs will grow too quickly for mines, refiners and cell manufacturers to keep up and there will be casualties as established automotive companies move towards an electric future.
The limiting factor for growth of the EV market is cell production, from the mine to cell manufacturing. Tesla’s strategic decision to vertically integrate into battery manufacturing is a harbinger of things to come and a warning to other EV manufacturers on the strategic importance of controlling supply chains."
On Removing Cobalt from Batteries
"Tesla predicted a future with no graphite, no cobalt and lithium that will be extracted from a greenfield site they acquired in Nevada.
Despite years of trying to remove cobalt from batteries, it has proven to be a formidable challenge owing to its importance in keeping batteries safe and extending the life of cells. Following Battery Day, leading cobalt market expert Caspar Rawles from Benchmark Mineral Intelligence tweeted “[t]here will be no electric vehicle industry without cobalt.”
Battery manufacturers have instead opted to lower the amount of cobalt in a cell to decrease the cost while preserving the integrity of the battery. This is the battery evolution trend almost all market experts are predicting, with the nickel-cobalt-manganese (NCM) cathode remaining the dominant chemistry.
We remain steadfast in our belief that cobalt will continue to be an essential component in nickel-rich batteries. The timeline from concept to commercialization of any new battery technology will take ten or more years. We note recent market commentary on Tesla having concluded a long-term cobalt supply deal, which would be at odds with today’s pronouncements.
Most of Tesla’s competitors are developing their electrification plans on the basis of NCM battery technologies."
On First Cobalt’s Plans
"Tesla noted the importance of developing shorter supply chains and focusing on a North American battery solution. First Cobalt agrees that developing a North American battery ecosystem is of critical importance, notably in relation to lowering logistics costs, mitigating supply chain disruptions and reducing overall carbon emissions from the supply chain. North America is currently 100% reliant on foreign sources of cobalt for its automotive industry and First Cobalt is the only company in a position to change that over the short term.
First Cobalt is committed to developing a regional battery materials supply chain, initially by recommissioning and expanding its permitted cobalt refinery in Canada to provide battery grade cobalt for the North American and European electric vehicle markets. Discussions are ongoing with several EV manufacturers. Over time, this facility could be expanded to recycle black mass from lithium-ion batteries.
Recent announcements from the Ford Motor Company and their plans to retool their Ontario assembly plants to support the growing EV market, the joint battery plant announcement by GM and LG Chem in Michigan and the announcement by Volkswagen regarding their Tennessee operations clearly underscore the opportunity for First Cobalt to play a strategic and critical role in the next generation of North America’s auto supply chain.
Cobalt will continue to play an essential role in long range vehicles, keeping cars safe and prolonging battery life. Contrary to speculation, cobalt will not be taken out of the battery anytime soon, reinforcing our business plan. The evolution of battery technology towards lower cobalt content is positive from the perspective of EV penetration rates and for cobalt as a critical input.
As it is the scarcest raw material input and the most expensive commodity, decreasing the amount of cobalt in battery cells will facilitate higher penetration rates which in turn will drive adoption rates. Benchmark Mineral Intelligence forecasts that cobalt demand from nickel-cobalt-manganese (NCM) batteries used in EVs will increase from approximately 20,000 tonnes in 2019 to over 730,000 tonnes in 2040, even after cobalt thrifting is taken into account."
I also voted no. Now we wait and see.
First Cobalt Announces Annual Meeting Results
https://mailchi.mp/0182cb666e23/first-cobalt-announces-positive-feasibility-study-results-for-refinery-expansion-18797104?e=f823b71916
First Cobalt Appoints Project Development Vice-President
https://www.firstcobalt.com/media/news/first-cobalt-appoints-project-development-vice-president
First Cobalt Up sizes Private Placement
https://markets.businessinsider.com/news/stocks/first-cobalt-upsizes-private-placement-1029513774#
First Cobalt Announces Private Placement
August 11, 2020
https://www.firstcobalt.com/media/news/first-cobalt-announces-private-placement-20200811
Just received my proxy. We have the opportunity to vote against the possible reverse split.
First Cobalt Evaluates its Canadian Silver Portfolio
https://www.firstcobalt.com/news/news/first-cobalt-evaluates-its-canadian-silver-portfolio
Below is a link to the Management Proxy Circular. If you scroll down to page 13, you will see the explanation of the possible consolidation.
https://www.firstcobalt.com/_resources/agm-materials/First-Cobalt-Corp-Management-Information-Circular-AGSM-August-25-2020.pdf
We are all hearing talk on a reverse split on message boards. I did some searching and I found this message on yahoo finance board below. I do not know how accurate this response is, so please take it with caution.
https://finance.yahoo.com/quote/FTSSF/community/
Guys, I reached out to IR regarding the objective of the reverse split. This is the response I got (below). What you think? This seems counter productive, but I’m a newbie to this, wouldn’t less liquidity mean more potential for manipulation? I am glad we received a stated objective, as long as it is defensible?
“We have been stuck in a tight range of 14-14.5 for some time and the share price and liquidity suggest that we have become a preferred ticker for certain high frequency traders. We issued a shareholder meeting circular a few day ago that included a resolution to permit the board to consolidate the stock at a future date on a 5:1 to 7:1 basis. That got some attention but it just might also be getting undesirable players out of our registry as well (time will tell).
We want to give ourselves the option to do a rollback once we have the financing and Glencore contract wrapped up. Done from a position of strength, we believe this could remove the algo traders from the stock and start putting our shares into more stable US institutional hands. No final decision has been made but rest assured that we will not do this unless and until we feel we have good momentum to support us.”
First Cobalt Provides Refinery Project Update
July 22, 2020
https://www.firstcobalt.com/news/news/first-cobalt-provides-refinery-project-update
We are showing a bit of life. Hopefully it could hold the momentum.