CPO in the news FYI
FP says First Cobalt, rivals enlivening Cobalt, Ont.
2018-05-28 08:47 ET - In the News
See In the News (C-FCC) First Cobalt Corp
The Financial Post reports in its Saturday, May 26, edition that Cobalt, Ont., experienced a historic and prolific silver rush at the turn of the last century, but it petered out at the end of the 1980s. The Post's Gabriel Friedman writes that last year, in a welcome turn of events, prospectors started flocking to the area. Now, properties are changing hands at a pace not seen in years, and executives from junior mining companies have been rooting around old mine sites and raising tens of millions of dollars in the belief they can build a world-class cobalt mine in Cobalt. The metal, which blooms pink in reaction with oxygen, is clearly visible in the hills and rocks around town. However, it can take years to discover a deposit, secure financing to build a mine and then actually start extracting ores. With exploration just beginning, the town has a thin window of time to capitalize on high cobalt prices, which could crumble if the electric vehicle market tanks. Roskill analyst Jack Bedder, who studies the cobalt market, says, "In 10 years time, we may not even be focusing on lithium ion anymore." For now, however, he says, "Cobalt is in the mix for the next decade or so according to our forecasts."
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