Lights are still onLooks like FT was able to get some more runway with its' latest private placement; hopefully enough this time until government assistance materializes. Some of the assistance they're currently banking on, which FT must consider to be the most likely, include:
- Canadian government taking equity stakes and advancing loans to CM companies (2023 fed budget should provide some colour)
- Natural Resources Canda grant (application submitted)
- Alberta Innovates funding (bismuth processing)
- US DoD matching grant up to US$25 million.
Interesting statement about domestic production of EV's and a good plug for FT's cobalt, i.e. "most of the current sources of supply would not qualify as domestic sources to access the US government tax credits".
Looks like there is a demand for their Bismuth, considering they mention a customer list - another positive piece of the puzzle. Don't recall Bismuth magnets being mentioned on the board, but this application seems to have real promise and potential for the manufacturing of rare-earth-free high powered permanent magnets in compact, energy efficent electric motors. Some info on this ...
https://www.materialstoday.com/metals-alloys/news/improved-rareearthfree-magnets-cant-be-touched/