TSXV:FCO.H - Post by User
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BarnFindon May 02, 2019 4:19pm
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Post# 29702988
Whose shares did First Cobalt Buy?
Whose shares did First Cobalt Buy?Based on my reading of various sources, it would be Dundee's shares that were sold to First Cobalt.
Again - I will vote NO on the Jervious merger. First Cobalt would be a much better merger partner. While it too has limited cash, it does have the Iron Creek cobalt that can be open pit mined, whose ore could be run through the eCobalt mill (once completed). Then it has a refinery at the Cobalt Camp that is looking for a feed source to be able to get financing to get the mill running again.
This is not all a slam dunk by any means, but First Cobalt would be a good fit with eCobalt with result being a vertically integrated supplier of cobalt, all in NA. $100 M US should be sufficient to get this all done within a 24 month time frame.
Now if First Cobalt can get an offtake agreement with Cobalt 27, or someone else, a mergered eCobalt/First Cobalt would have 2 cobalt mines, 1 mill and 1 refinery -a ll in NA producing positive cash flow. That would make them a real player in cobalt - especially for the NA computer/cell phone and/or auto industry.
JMO. Please note that I own eCobalt, First Cobalt and Cobalt 27 shares, so I am certainly biased.