Strike length of approximately 900 meters remains open along strike and down dip. Maiden resource estimate for Iron Creek contains 45 million pounds of cobalt, 175 million pounds of copper for 62.9 million pounds of cobalt equivalent.2,600-acre Iron Creek project includes the Iron Creek cobalt-copper deposit and Ruby deposit.2020 Feasibility Study outlined the potential to produce 25,000 tonnes of batter-grade cobalt sulfate from third-party feed.Near-term cash flow potential through an MOU with Glencore to restart the First Cobalt refinery, with Glencore providing a long-term supply of feed material and required capital.North American, vertically integrated and well-situated to provide battery-grade cobalt for the EV market.The expanded property now contains the Iron Creek cobalt-copper deposit, the Ruby target and several other surface exposures of cobalt-copper mineralization. Stock analysis for Electra Battery Materials Corp (FCC) including stock price, stock chart, company news, key statistics, fundamentals and company profile. In April 2020, First Cobalt Corp increased the size of its land position in Idaho by 50 percent, adding 43 new claims to expand the total area from 1,700 acres to over 2,600 acres. Direct Ownership, Options (Common Shares) 4 - Director of Issuer. First Cobalt plans to release an updated resource in 2019. Company summary with corporate and market information for First Cobalt Corp. First Cobalt has released a maiden resource estimate for the property outlining an inferred resource of 45 million pounds of cobalt and 175 million pounds of copper for 62.9 million pounds of cobalt equivalent. The Iron Creek property has mining patents and significant infrastructure in place, including three underground adits that total 600-meters. The First Cobalt refinery has the potential to produce either a cobalt sulfate for the lithium-ion battery market or cobalt metal for the North American aerospace industry or other industrial and military applications.įirst Cobalt Corp’s Iron Creek project, which covers 2,600 acres in the Idaho Cobalt belt, is one of the few prospective cobalt projects in the US. The facility is a hydrometallurgical cobalt refinery located five hours north of Toronto and approximately 600 kilometers from the US border. The First Cobalt Corp refinery is the only permitted primary cobalt refinery in North America. The company is focused on developing a supply of battery-grade cobalt in North America for the rapidly growing electric vehicle (EV) market. (TSXV: FCC,OTCQX:FTSSF) is a vertically-integrated North American cobalt company with three significant assets: the First Cobalt refinery in Canada, the Iron Creek project in Idaho, US and the Cobalt Camp properties in Ontario, Canada. It’s since been trading lower, sticking below $3 over the past few months.First Cobalt Corp. On completion of the merger, First Cobalt's Board will be reconstituted to include First Cobalt founder Bob Cross, Cobalt One chairman Paul Matysek and Cobalt One Executive Director Jason Bontempo. The stock was up above $12 back in 2018 and then fell to the $6 mark by 2021. shareholders have approved the merger with First Cobalt, with 99.995 of votes cast in favour. Electra will act as a bridge between North American electric vehicles and a North American source of primary and recycled material, providing a low carbon solution for zero emission vehicles,” Mell said. “With rich mineral endowment, the rationale for supplying battery materials through Asia into a growing U.S. “Our automaker clients have a strong interest in greater localization of the upstream supply chain to achieve greater reliability, security of long-term supply, and a lower carbon footprint.” “Globalization has created an electric vehicle supply chain that is too long, too costly and increasingly unreliable,” said Trent Mell, President & CEO, in a 2021 press release. Previously named First Cobalt, the company originally aimed at becoming North America’s cobalt mining champion, but when that plan didn’t work out First Cobalt changed to Electra and shifted focus to being a mid-stream player in the battery materials supply chain. And although the cobalt price is back at its 2021 highs and it trades for 23.8/lb, First Cobalts share price is in a downtrend, going to re-test the late January lows soon. Last year, Electra scored a three-year agreement to supply 7,000 tonnes of battery grade cobalt to LG Energy Solution, while the company is in talks with the province of Quebec to build a new cobalt sulfate refinery in Bécancour, Quebec, and is looking to build an integrated electric vehicle battery materials park in Ontario for materials refining, recylcing and manufacturing. The company processes advanced materials used in lithium-ion batteries and they have a number of projects on the go, including refineries and recycling of battery materials.
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