eCobalt Solutions’ (TSX:ECS) provided a corporate and operations update on its Idaho Cobalt Project (ICP) near Salmon, Idaho. The update suggests progress
has been made in advancing the project and that the feasibility study is on track to be completed in Q2. A third-party market study established that
cobalt sulfate samples produced from ICP meets the standards for the most recent NMC and NCA battery technologies. We view this positively as it should
allow the company to complete an off-take agreement. In addition, the company announced it has completed the ~800m metallurgical drill program which
commenced in Q3 2016. Cobalt sulfate crystal samples produced from the drill core are expected to be made available to potential off-take clients for
due diligence purposes. Earlier in Q1, eCobalt closed a C$17.25 million financing to fund the project to a construction decision. With the project
progressing, we believe eCobalt is likely in a good position to take advantage of the increasing cobalt prices. Cobalt prices have increased by ~55%
since the beginning of 2017.
Derek Macpherson | VP Mining Analysis
Sunneva Bernhardsdottir | Associate, Mining Analysis
Victoria Ellis Hayes | Associate
Red Cloud Klondike Strike Inc.
79 Wellington St. W. Suite 1630, PO Box 148
Toronto ON, M5K 1H1
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All values in USD unless otherwise noted.
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eCobalt Solutions Inc. - TSX:ECS - 2
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