Phoenix, Arizona--(Newsfile Corp. - August 7, 2019) - The Stock Day Podcast welcomed First Cobalt (OTCQX: FTSSF) ("the Company"), a Canadian-based pure-play cobalt company and owner of the only permitted primary cobalt refinery in North America. President and CEO, Trent Mell, joined Stock Day host Everett Jolly.
To begin the interview, Jolly noted the Company's recent announcement of their partnership with Glencore and asked what this means for their future. Mell explained that this partnership will greatly improve their cash flow, by providing the Company with $5 million to continue the development of their current projects. "Between now and the end of the calendar year, we'll complete a pre-feasibility study on a smaller start-up of 12 tons per day," shared Mell. He also explained that the Company will also complete a feasibility study for a 55 ton per day scenario, which will include in-depth engineering details.
Jolly then inquired about the market for cobalt and its potential value to the Company. Mell shared that the cobalt market is small, but mainly serves the defense and industrial industries. However, cobalt has also become an increasingly popular component in batteries, especially when it comes to the expanding market of electric vehicles.
Mell then elaborated on the partnership with Glencore. "We're the only junior in the world that has a refinery that is permitted and ready-to-go," stated Mell, as he explained why the facility is of great value to their new partner. "With Glencore we have a natural, synergistic partnership." he added. "Together we're going to bring the first battery-grade cobalt material to the market."
Jolly then asked Mell about the value that the cobalt market represents to investors. "A smart investor gets in early," stated Mell. He explained that the cobalt industry is expected to see an increase in value starting in September, making it an ideal time to invest in this market.
Mell then explained that the Company will primarily be focusing on their refinery given the partnership with Glencore, however their Iron Creek Cobalt Project will continue to be further developed once the Company's cash flow increases.
To close the interview, Mell shared that the management team behind the Company has extensive experience, which is only further enhanced by their new partnership with Glencore. He then expressed his excitement for the Company's potential and what it means for investors looking to get into the cobalt market.
To hear Trent Mell's entire interview, follow the link to the podcast here:
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About First Cobalt
First Cobalt is a Canadian-based pure-play cobalt company and owner of the only permitted primary cobalt refinery in North America. The Company is exploring a restart of the First Cobalt Refinery in Ontario, Canada, which could produce 5,000 tonnes of cobalt sulfate or metallic cobalt per year. First Cobalt's main cobalt project is the Iron Creek Cobalt Project in Idaho, USA, which has Inferred mineral resources of 26.9 million tonnes grading 0.11% cobalt equivalent, or an alternative underground-only scenario of 4.4 million tonnes grading 0.3% cobalt equivalent. For further information regarding the resource estimate for the Iron Creek Cobalt Project, readers are encouraged to review the technical report prepared for the Company, dated effective September 18, 2018 (as amended), a copy of which is available on SEDAR and on the Company's website.
On Behalf of First Cobalt Corp.
President & Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Estimates of Resources
Readers are cautioned that mineral resources are not economic mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum's "2014 CIM Definition Standards on Mineral Resources and Mineral Reserves" incorporated by reference into NI 43-101. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for Preliminary Economic Assessment as defined under NI 43-101. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically. An Inferred Mineral Resource as defined by the CIM Standing Committee is "that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration."
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for First Cobalt, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise
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