![]() The refinery start-up is expected in Q4 2022. At the current market prices, the value of contained metals equals approximately $890 million.Īnd finally, on July 13, First Cobalt provided also some news regarding the Ontario cobalt refinery expansion and restart. Just a reminder, right now, the inferred and indicated resources contain 24.935 million lb cobalt, and 69 million lb copper. It will focus on extensions of the cobalt-copper mineralization exposed at the surface, over a 500 meters strike extent.įirst Cobalt's aim is to double the Iron Creek resources over the next two drill seasons. Some drilling will take place also at the Ruby Zone. The budget is $2.5 million and the works will include not only geophysical and geochemical surveys on the newly acquired properties but also 4,500 meters of drilling with an aim to expand the Iron Creek deposit along strike. On June 24, First Cobalt started a new exploration campaign at the Idaho properties. It can be expanded to 75% by paying further $150,000 and expending another $1.5 million over the subsequent two years. This is why it is willing to pay $50,000, and 200,000 shares, and also to expend $1.5 million on exploration over the next three years, to acquire a 51% interest in the property. First Cobalt believes that the Ruby Zone continues to the Redcastle Property. The Redcastle Property is situated right to the east of Iron Creek, close to the Ruby Zone. First Cobalt plans to make a geophysical and geochemical survey at West Fork soon. West Fork was acquired in an exchange for an undisclosed amount of cash, 250,000 shares of First Cobalt, and a 1% NSR royalty. There is potential that the cobalt-copper mineralization continues to the newly acquired lands. And on May 25, First Cobalt added the Redcastle Property right to the east of the Iron Creek Property (map below).Īccording to First Cobalt, the West Fork Property was acquired because the geophysical signature of cobalt-copper mineralization at Iron Creek has been traced west towards the West Fork Property. Subsequently, on May 11, First Cobalt announced that it more than doubled its land package in Idaho, by acquiring the West Fork Property right to the west of the Iron Creek Property. Although the funding is not high, it shows that the project has the support of the government, which is definitely positive. On April 28, First Cobalt received $600,000 funding for Iron Creek from the US Department of Energy’s Critical Materials Institute. They were mostly related to the Idaho Iron Creek project. ![]() Since my last article, back in early April, several positive developments have occurred. And although the cobalt price is back at its 2021 highs and it trades for $23.8/lb, First Cobalt's share price is in a downtrend, going to re-test the late January lows soon. However, in Q2, the attention switched to the Idaho Iron Creek project. It completed a five-year offtake agreement, entered into an exclusivity agreement with CIBC Capital Markets regarding a $45 million debt financing for the cobalt refinery expansion, and started investigating the possibility of developing a recycling circuit that would recycle the black-mass material from recycled batteries to produce cobalt, nickel, copper, and possibly also lithium and manganese. If you are good with personal finance and are looking to invest, you will find the First Cobalt on OTCQX stock exchange.During the winter months, First Cobalt (FTSSF) focused especially on the Ontario refinery. Trading in bull markets is always easier so you might want to favor these shares under the given circumstances, but always read up on optimal investment strategies if you are new to investing. Since this share has a positive outlook we recommend it as a part in your portfolio. Our Ai stock analyst implies that there will be a positive trend in the future and the FTSSF shares might be good for investing for making money. Currently there seems to be a trend where stocks in the Materials sector(s) are not very popular in this period. According to present data First Cobalt's FTSSF shares and potentially its market environment have been in bearish cycle last 12 months (if exists). Recommendations: Buy or sell First Cobalt stock? Wall Street Stock Market & Finance report, prediction for the future: You'll find the First Cobalt share forecasts, stock quote and buy / sell signals below. Real Estate and Housing Market Forecast.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |