NetworkNewsBreaks – First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) Aims to Exploit Promising Potential of its Iron Creek Property
First Cobalt (TSX.V: FCC) (OTCQX: FTSSF), a vertically integrated North America pure-play cobalt company, recently said it has acquired 100 percent ownership of its Iron Creek property. A recent article discussing the company reads: “The property consists of mining patents and exploration claims that have some infrastructure already in place, including drifting from three adits and an all-weather road that connects to a state highway. The project was under lease to First Cobalt with terms that required the company to make monthly payments and grant a four percent royalty to the leaseholder, but First Cobalt’s $1.07 million payment cleared the obligations. The deal marked a 47 percent reduction of the expected price tag, and First Cobalt’s cash balance of $20 million with an additional $2 million in assets (as of June 30) leaves it in a strong position to move forward with the mine planning process. The company is fully financed to complete all additional drilling programs currently scheduled, and it has begun collecting data for future permit requirements.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
First Cobalt (TSX.V: FCC) (OTCQX: FTSSF), a vertically integrated North America pure-play cobalt company, recently said it has acquired 100 percent ownership of its Iron Creek property. A recent article discussing the company reads: “The property consists of mining patents and exploration claims that have some infrastructure already in place, including drifting from three adits and an all-weather road that connects to a state highway. The project was under lease to First Cobalt with terms that required the company to make monthly payments and grant a four percent royalty to the leaseholder, but First Cobalt’s $1.07 million payment cleared the obligations. The deal marked a 47 percent reduction of the expected price tag, and First Cobalt’s cash balance of $20 million with an additional $2 million in assets (as of June 30) leaves it in a strong position to move forward with the mine planning process. The company is fully financed to complete all additional drilling programs currently scheduled, and it has begun collecting data for future permit requirements.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
