TSXV:FCO.H - Post by User
Comment by
ufoolmeon May 10, 2016 5:45pm
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Post# 24859624
RE:FCO only cobalt mine?
RE:FCO only cobalt mine?No they are not the only cobalt source in the western hemisphere. Check this
https://www.indexmundi.com/minerals/?product
They are about 18 months from a producing mine, but do not have the approximately
$150 million they need to build it. They have no debt of any significance. The management
is new, so we are not sure how competent they are. The current CEO was the former CFO, and he could not arrange the financing, although some of it was market conditions, so your guess is as good as any other. I will add, however, that if they wish to start in earnest, they need the money soon, as it is extremely cold at the altitude of the mine site.
It is, however, described as the largest cobalt deposit in North America.