First Cobalt Engages an Environmental And Permitting Consultant For Iron Creek

First Cobalt Engages an Environmental And Permitting Consultant For Iron Creek

On 9 January 2019, mining player, First Cobalt Corp. (ASX: FCC) announced that the company had appointed Brown and Caldwell as its principal environmental and permitting consultant for the Iron Creek Project based in Idaho, USA. The consultants will reportedly provide the guidance on qualification along with developing an environmental baseline study strategy. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

President and Chief Executive Officer of First Cobalt, Trent Mell stated that the company’s 2019 strategy is first to de-risk its two primary assets that are the First Cobalt Refinery in Ontario, Canada, and the Iron Creek Project in Idaho, USA.

With the engagement of work consultants, the company steps into the next phase of Iron Creek Development. These consultants are accredited with over 70 years of experience in environmental consulting, design, engineering and construction work across the USA and Canada.

In September 2018, First Cobalt revealed its maiden resource estimate for the Iron Creek Project. It included 26.9 million tonnes of Inferred Resource estimate with 0.11% cobalt equivalent grade. These results were based on pit constrained and deeper mineral resource deposits. On the side of an alternative underground-only scenario, the company discovered 4.4 million tonnes grading of 0.23% Cobalt and 0.68% Copper.

The company believes Brown and Caldwell would assist the company to determine the mineral processing and optimal mining design at Iron Creek on the back of maiden resource estimates. As per the today’s announcement, the services are said to be rendered from the consultant’s Boise, Idaho office, known for its extensive experience in environmental monitoring, project permitting, water management, and reclamation.

Mr. Mell further talked about the emerging cobalt market especially in the making of electric vehicles. Cobalt assets outside China and the Democratic Republic of the Congo (DRC) remain exceedingly rare, stated Mr. Mell. He added that at this date there is no primary cobalt refining or mining company in North America which outlines significant opportunity for First Cobalt. Moreover, its potential to produce ethical cobalt in secure jurisdiction sets it apart.

On the front of drilling work, the company informed that the work to extend the strike length of mineralized zones as well as of the known cobalt-copper zones had been continued till the end of 2018. Further, it is expected that updated mineral resource estimate for Iron Creek Project will be released by the end of the first quarter of 2019.

The management advised that the First Cobalt Refinery has put forward the option of early cash that could add the financial arm to the future work planned for Iron Creek. Moreover, the company stated that metallurgical test work of cobalt hydroxide, as well as other sources of third-party feed, is currently underway. The company is also in the process of exploring new non-equity financing options that could fund the recommission of the refinery that has been on repair and maintenance since 2015.

The shares of First Cobalt traded flat on 9 January 2019, ending the day’s session at $0.175 with a market capitalization of $74.29 million. Over the past 12 months, FCC has fallen by 87.68%.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Checkout our Free Dividend Stocks Report

Specially made for income-hungry investors, Invest in growing Franked Dividends an opportunity that should not be missed.

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report