Vertically integrated North American pure-play cobalt company First Cobalt (TSX.V: FCC) (OTCQX: FTSSF) (ASX: FCC) this morning announced its commencement of testing of cobalt hydroxide material as feedstock for the company’s refinery. SGS Canada was retained to conduct testing to determine suitability of different cobalt feed material using FTSSF’s current flowsheet. In addition, discussions are underway with cobalt miners and commodity traders to explore ethically-sourced cobalt hydroxide options. As part of the testing, cobalt hydroxide material will be assessed for use as feedstock to produce metallic cobalt or cobalt sulphate products for sale into the North American market, and Cobalt Camp muckpile ore sorting and sampling programs indicate potential for use as incremental feed.
First Cobalt President & CEO Trent Mell stated in the news release, “Our objective is to enter into a long-term agreement for a reliable source of ethically-mined cobalt. The cash flow potential from restarting the refinery in as little as 18 months could allow us to fund a significant amount of work to advance our flagship Iron Creek Cobalt Project in Idaho, USA while also providing a much-needed North American source of cobalt. In parallel with these tests, management has commenced discussions with third party sources of capital that would minimize or eliminate any equity dilution associated with a restart of the First Cobalt Refinery.”
To view the full press release, visit http://ibn.fm/SjIvi
About First Cobalt Corp.
First Cobalt is a vertically integrated North American pure-play cobalt company. First Cobalt has three significant North American assets: the Iron Creek Project in Idaho, the Canadian Cobalt Camp and the only permitted cobalt refinery in North America capable of producing battery materials. For more information, visit http://ibn.fm/FTSSF
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