First Cobalt (TSX.V: FCC) (OTCQX: FTSSF) (ASX: FCC), a North
American pure-play cobalt company, this morning reported interim results from
ongoing testing of cobalt hydroxide material as potential feedstock for its
First Cobalt Refinery in Ontario, Canada. According to the update, the
preliminary testing demonstrated that 98% of cobalt effectively leached from
cobalt hydroxide material with solvent extraction processes used to further
remove deleterious elements. Additionally, cobalt extraction tests are underway
and will be followed by sulphate crystallization to produce cobalt sulphate.
Results are anticipated by the end of the quarter. “Today’s results give us
further confidence that the First Cobalt Refinery flowsheet can produce cobalt
to supply the North American market. Having achieved this milestone, we are
driving ahead with the next phase of testing including the production of cobalt
sulphate, which we expect to have completed before the end of the quarter. The
lower price of cobalt hydroxide on the market today points to increased margin
potential through upgrading readily available supply of cobalt intermediates.
We continue to explore sources of non-equity capital to finance the
recommissioning of the Refinery, which could provide cash to finance future
work at our flagship Iron Creek Cobalt Project in Idaho, USA,” First Cobalt CEO
Trent Mell stated in the news release.
To view the full press release, visit http://ibn.fm/a1zS3
About First Cobalt Corp.
First Cobalt is a North American pure-play cobalt company
whose flagship asset is the Iron Creek Cobalt Project in Idaho, USA, which has
Inferred mineral resources of 26.9 million tonnes grading 0.11% cobalt
equivalent. The company also owns the only permitted cobalt refinery in North
America and 50 past-producing mines in the Canadian Cobalt Camp. For more
information, visit http://ibn.fm/FTSSF
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide
a rapid summary of corporate news that catch the attention of QualityStocks.
QualityStocksBreaks are designed to keep investors up to date on important and
breaking news in the small-cap and micro-cap markets. Spanning all industries,
including energy, entertainment, telecommunications, healthcare, retail and
more, these news breaks deliver opportunities the investment community may have
missed. Whether it is earnings results, mergers and acquisitions, or any other
market-moving news, our news breaks keep you in the know. QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment