Royal Nickel Corporation (OTCQX: RNKLF) is a multi-asset mineral resource company with a portfolio of nickel, cobalt, and gold production and exploration properties. RNC Minerals, in its capacity as Manager of the Dumont Joint Venture with Arpent Inc., a subsidiary of Waterton Precious Metals Fund II Cayman, LP and Waterton Mining Parallel Fund Offshore Master, LP, recently announced that Ausenco Engineering Canada Inc. has been awarded the contract for a feasibility study update for the Dumont Nickel-Cobalt Project. Ausenco has led all of the earlier pre-feasibility and feasibility studies completed on the project. Ausenco, in conjunction with Duro Fulguera, also completed additional engineering work in 2015 to develop an EPC Lump Sum Turnkey Proposal for approximately 72% of the capital cost. "We are very pleased to work again with the high calibre team from Ausenco and supporting engineering firms to complete the feasibility study update as we work toward our goal of making a construction decision in 2019." said Mark Selby, President and Chief Executive Officer of RNC. "These engineering and consulting firms have a deep level of knowledge and experience from their previous work, both at Dumont and other large open pit mining projects in Canada and abroad. I look forward to the updated feasibility study results confirming the inherent value in the structurally low-cost Dumont Nickel-Cobalt Project, which is well-positioned to deliver the additional nickel and cobalt required by the early 2020s to meet strong demand growth from the stainless steel and electric vehicle markets. Dumont remains one of the world's premier battery metals projects containing the world's largest undeveloped reserves of nickel and second largest undeveloped reserves of cobalt."
Trilogy Metals Inc. (NYSE: TMQ) is a metals exploration company focused on exploring and developing the Ambler mining district located in northwestern Alaska. Trilogy Metals Inc. recently reported its third quarter results for the period ended August 31th, 2018. Third Quarter 2018 highlights include a strong cash position of USD 30.5 Million and working capital of USD 27.2 Million. On June 5th, 2018 the Company announced a maiden cobalt resource of 182.4 Million tons grading 0.019% Co for 77 Million pounds of inferred resources. On July 20th, 2018 the Company announced the filing of an updated technical report for the Bornite Project incorporating the cobalt resource and updates from the 2017 drill program at the Bornite Project. On August 23, 2018 the Company announced an expansion of the Bornite drilling program, with its partner, South32 Limited, funding an additional USD 800,000 for the Company to add two drill rigs, which have subsequently completely four holes totaling approximately 2,170 meters. The 2018 program and budget at the Bornite Project which was originally USD 10 Million, includes in-fill and off-set drilling to better define and expand the high-grade copper resources at Bornite, was increased during the quarter to USD 10.8 Million with a focus on adding additional drilling towards the end of the field program. Camp opened during mid-May and a seismic program was completed in early June. Results from the seismic program have now been received and the technical teams at the Company and South32 intend to meet later this year to review and analyze the information collected.
eCobalt Solutions, Inc. (OTCQX: ECSIF) is a Toronto Stock Exchange listed company committed to providing clean cobalt products essential for the rapidly growing rechargeable battery and renewable energy sectors, made safely, responsibly, and transparently in the United States. eCobalt Solutions Inc. recently announced the successful completion of pilot-level metallurgical testing for the Company's 100% owned Idaho Cobalt Project (the "ICP"), located near the town of Salmon, in the heart of the historic Idaho Cobalt Belt. The ICP remains the sole, near-term environmentally-permitted primary cobalt deposit in the United States. "Results from the pilot testing have provided a high degree of confidence for the production of a clean, high value cobalt concentrate for potential off-take partners, further advancing current discussions," commented Paul Farquharson, President and Chief Executive Officer of eCobalt. "With these results we will now proceed with finalization of the Optimized Feasibility Study, which also incorporates data from the optimized mine plan and the February 2018 updated resource model into a new mineral reserve estimate. The successful conclusion to the pilot work achieves a key milestone in our development of the ICP into North America's first primary cobalt producer."
First Cobalt Corp. (OTCQX: FTSSF) is a vertically integrated North American pure-play cobalt company. First Cobalt Corp. recently announced the results of three studies supporting a restart of the First Cobalt Refinery in Ontario, Canada. "The First Cobalt Refinery is a strategic North American asset and potentially our quickest path to cash flow by producing cobalt materials for the North American market. The facility is in excellent condition with permits in place and a short timeline to potential production, as well as optionality for both sources of material and refined product. Future offtake partners may offer flexibility with financing options to minimize dilution as we move forward." said Trent Mell, President & Chief Executive Officer. "We believe that the single best use of the refinery is to provide cobalt for the U.S. market, which does not currently produce a meaningful supply. At this time, we are working with engineering and market consultants to assess the suitability and margin opportunities of various feed sources. This process includes a review of design modifications to the existing refinery flow sheet and the resulting impact on capital and operating costs. While no decision for start-up has been made to move forward, we are reviewing funding alternatives that would minimize equity dilution for our shareholders today and in the future."
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