NetworkNewsBreaks – First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) Begins Testing Potential Feedstock for Refinery Restart
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.”
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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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
