Palm Beach, FL – July 17, 2019 – Cobalt is in demand and the global Cobalt community is worried about future supplies… which means companies and countries will be looking for as of yet undiscovered sources. With so many uses the development of a more consistent supply chain is of great importance to countries around the world. Sciencing on its website says the US government treats cobalt as a strategic metal because a shortage would affect the economy, industry and defense of the country. Most cobalt used in the United States is imported. Plus, according to a European Commission report, Cobalt supply has issues of concentration and risk of disruption, as it is mainly produced in Democratic Republic of Congo and China. According to our assessment these risks will persist in the future, likely increasing in the near term until 2020… Despite this, worldwide, demand is already perceived to exceed supply in 2020 and such a loss making trend is expected to become more consistent from 2025 on. In the EU, although the capacity to meet rising demand is projected to increase through mining and recycling activities, there is an increasing gap between endogenous supply and demand. The EU’s supplies of cobalt will increasingly depend on imports from third countries… Active mining stocks in the markets this week include 21C Metals Inc. (CSE: BULL) (OTCQB: DCNNF), First Cobalt Corp. (TSX-V: FCC) (OTCQX: FTSSF), Pacific Rim Cobalt Corp. (CSE: BOLT) (OTCQB: PCRCF), Sherritt International Corporation (TSX: S) (OTCPK: SHERF), eCobalt Solutions Inc. (TSX: ECS) (OTCQX: ECSIF).
As a result of the accelerated introduction of electric vehicles (EVs), the demand for lithium-ion batteries (LIB) is expected to increase significantly in the future. However, a potential limiting factor in the deployment of LIBs may be the supply of cobalt, largely used in a number of conventional battery chemistries. Potential disruptions in cobalt supply can arise from the near-monopolistic supply structures for both mined and refined cobalt, unethical practices in producing countries, the long lead-time for developing new mining projects, and the fact that cobalt is mainly mined and recovered as a co- or by-product of copper and nickel.
21C Metals Inc. (CSE: BULL) (OTCQB: DCNNF) BREAKING NEWS: 21C Metals is pleased to announce the acquisition of a significant palladium project in Ontario. The Agnew Lake property was acquired after discussions with the company’s advisors and review of the Ontario Government geological data base. The Agnew Lake Property is located 80 kilometres west of Sudbury, Ontario home of Glencore and Vale’s Canadian Nickel-Copper-Platinum Group Elements mining and smelting operations.
The Agnew Lake Property is comprised of over 260 claims (~6000 Ha) and is part of the larger East Bull Lake-Agnew Lake mafic-ultramafic complex. The Company believes this acquisition will position it to be one of the larger none producing palladium explorers in North America.
The Agnew Lake magmas have major element compositions that are very similar to the model parent liquids proposed for the mafic portions of the Stillwater and Bushveld Complexes. The Agnew Intrusion and the East Bull Lake Intrusion are also considered to host significant PGE–Cu–Ni mineralization in marginal rock units (Peck & James, 1990; Peck et al.,1993a, 1993b, 1995; Vogel et al., 1997).
The Company continues exploration methods on the East Bull Property and surface grab sample results from geological structural mapping should be available in 3 weeks. (Grab samples are selective in composition and may not be representative of the total mineralized body). Continuation of exploration will include evaluation of the Agnew Lake Property. Detailed compilation of public data on Agnew Lake Property has commenced and a search for privately held data has started. Read this entire release and more news for 21C Metals at: https://financialnewsmedia.com/news-bull/
Other recent developments in the mining industry include:
First Cobalt Corp. (TSX-V: FCC) (OTCQX: FTSSF) recently announced that it agreed on a term sheet with Glencore AG outlining the framework for a non-dilutive, fully funded, phased approach to recommission the First Cobalt Refinery in Ontario, Canada . The framework remains subject to a number of conditions and outlines the key milestones to a long-term strategic relationship that could bring a reliable source of domestically refined cobalt to the North American market.
During Phase 1, Glencore would provide US$5 million advance to First Cobalt to complete detailed engineering and estimating, metallurgical testing, field work and permitting associated with the advancement of the First Cobalt Refinery. In particular, this phase includes delivery of a definitive feasibility study for a 55 tpd refinery expansion. Commencement of Phase 1 is subject to a number of conditions precedent, including execution of a loan agreement and related documentation, completion of any remaining due diligence, execution of a term sheet outlining a framework for commercial terms for Phases 2 and 3, and any required regulatory approvals.
Pacific Rim Cobalt Corp. (CSE: BOLT) (OTCQB: PCRCF) recently announced that further to its application for a Management Cease Trade Order (“MCTO”), which was granted on May 2, 2019, the Company is required to provide bi-weekly status reports in accordance with the alternative information guidelines in National Policy 12-203 (the “Guidelines”), until such time as the Company has completed and filed its audited annual financial statements and management’s discussion and analysis in respect of the financial year ended December 31, 2018 (the “Annual Report”).
Further to the Company’s bi-weekly status report of June 13, 2019, the Company is pleased to report that the Annual Report and the Company’s unaudited financial statements for the three months ended March 31, 2019, and management’s discussion and analysis in respect thereof (the “Q1 Report”) have been filed as of the date hereof. The MCTO will be lifted two business days from the filing of the Annual Report and the Q1 Report, which the Company expects to occur on or about July 2, 2019.
Sherritt International Corporation (TSX: S.TO) (OTCPK: SHERF) recently announced the release of its 2018 Sustainability Report that outlines the company’s approach to sustainability and its performance for the year.
“Sherritt’s purpose is to be a low-cost nickel producer that creates sustainable prosperity for all stakeholders,” said David Pathe, President and CEO of Sherritt International. “To fulfil that purpose, sustainability must underpin every major decision we make. We need innovation to address some of the biggest issues in our industry. More than ever, we need to foster a diverse and inclusive culture where people feel valued and feel comfortable speaking up, knowing that their ideas and opinions matter.”
The report contains Sherritt’s 2018 performance in support of its goal of being recognized as a responsible supplier as measured against the four pillars of its Sustainability Framework: Providing a Safe and Rewarding Workplace; Operating Ethically; Demonstrating Environmental Responsibility; and Engaging Stakeholders and Benefitting Communities.
eCobalt Solutions Inc. (TSX: ECS.TO) (OTCQX: ECSIF) operates The Idaho Cobalt Project (“ICP”) which is eCobalt’s flagship primary cobalt deposit located in the mining friendly state of Idaho, near the town of Salmon. Over the course of the last 20 years, the Company has invested over $135 million developing the project, which is fully environmentally permitted with proven mineable reserves of cobalt and secondary copper and gold. The ICP is 100% owned through the Company’s wholly owned subsidiary, Formation Capital Corporation, U.S. The ICP is located in the heart of the Idaho Cobalt Belt, a unique mineral rich, prolific metallogenic district unique to North America, which historically produced ~2M tonnes of cobalt from the early 1900s to the 1960s. The Idaho Cobalt Project consists of 243 contiguous unpatented lode mining claims located in east central Idaho, approximately 25.8 mi (41.5 km) west of the town of Salmon within the historic Idaho Cobalt Belt. Previously known as a mining community, Salmon was an area of past mining activities for Noranda’s former Blackbird mine and Meridian Gold’s former Beartrack gold mine.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty nine hundred dollars for news coverage of the current press releases issued by 21C Metals Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact Information:
Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757
SOURCE Financialnewsmedia.com
