Happy New Year! We hope you enjoyed time with your friends and loved ones over the Holiday Season.
Most importantly, we would like to extend our thanks for your involvement with
Global Energy Metals Corp. ("GEMC") and your interest in the cobalt and battery space in general. We certainly look forward to a continued relationship in 2017 and beyond.
As a brief update on GEMC, we are on still on track to list the company on the TSXV under the symbol “GEMC” and are making all efforts to make it happen as quickly as possible. In addition, the
NI 43-101 resource report for our Canadian primary cobalt project is well underway with findings expected to be made available in Q1.
Although we anticipated that a listing on the TSXV would have occurred prior to year end we are extremely confident that an early 2017 listing is possible. We were able to connect with the analyst at the Exchange just prior to the holiday break, and it was explained to us that there were a significant number of financings that would take precedent as it was year end. Given the Exchange was extremely busy our file would be revisited in January when their office re-opened.
As you’ve probably noticed, the cobalt price environment and attention in the market, thanks to Tesla Motors and other EV manufacturers, has improved in recent months. This only reinforces our long standing view that cobalt plays a critical role in the battery revolution underway. We are thus aligning ourselves with the right cornerstone funding and strategic partners who share our project mineral bank vision and can bring the necessary capital and exposure to high quality cobalt projects so that we can build our portfolio and advance these assets.
We’ve discovered, through years of working with off-take partners, especially those in Asia, that there is a pressing need to have diversification to the supply of cobalt from outside of the DRC. We believe there are significant value opportunities in aggregating projects and being the go-to battery minerals bank for the battery market while providing this very much needed short and mid-term raw material supply that fits our end-user’s specifications.
With that said, there are limits to the quality of the primary cobalt project space when one seriously considers the economic metrics of most of the assets available. Parallel to this we want to protect the company from non-accretive shareholder dilution, as such, to issue GEMC shares to acquire mediocre projects has not made sense to date although a project acquisition target list has been made and due diligence on assets we feel have merit is ongoing.
For your reference, please find attached articles published over the past few weeks highlighting cobalt as a commodity to watch in 2017 and that reference it and the metals associated as criticality to the battery sector. We share these and other related stories on
Twitter and our
Social Media channels and welcome you to follow.
We strive to ensure proper communication with our shareholders and will certainly relay any relevant information on to you as soon as it becomes available.
Please feel free to contact our office at
+1.604.688.4219 or via email at
info@globalenergymetals.com should you have any questions or require a more detailed update.
All the best in 2017.