WOW!Just checked my stocks and WOW for price explosion! Gotta be both financing and offtake contracts are just waiting for the ink to dry. Clearly, the chosen ones had days of advanced notice (illegal) and we peasant retail shareholders will find out last. Perfectly consistent with what is going on in space and in Canada re. cobalt. Article below from a couple of days ago. Guess who has the more "advanced" stage of talks--not Fortune as still don't even have an all-weather road to there mine site. Wher is that resident basher??????
Vancouver-based Ecobalt’s “path forward” is to first sign a long-term supply agreement, called an offtake, with one or more customers to provide a portion of the funds it needs to develop its Idaho cobalt project, CEO Paul Farquharson said in an email.
Once in place, this would significantly lower the risk for the project, making it more attractive for banks to provide debt financing and other investors to fund the balance.
Ecobalt outlined plans on Dec. 7 to produce for offtake a cobalt concentrate, a less-processed cobalt product than initially planned - a step that could slash as much as $100 million, according to analysts, off its previous project capital cost estimate of $187 million.
Ecobalt, whose Idaho project is the only fully-permitted, primary cobalt deposit in the United States, is the most likely of the Canadian cobalt developers to secure financing, possibly within six months, said Eight Capital analyst David Talbot.
Toronto-listed cobalt companies, Ecobalt Solutions and Fortune Minerals, are in talks, ranging from preliminary to more advanced, with more than a dozen groups, including car and battery makers, on financing their projects, their chief executives told Reuters.