RE:Interview- they ONLY GOT USD 20 million {from US DOD GRANT MONEY} out of the USD 60 million CAPEX COST of UPGRADING and EXPANDING EXISTING COBALT REFINERY on Northern Ontario
- so they are SEEKING a FURTHER USD 40M in PROJECT FINANCING
- they are STILL TWEAKING the COBALT CIRCUIT to OPTIMIZE cobalt production SO their CHEMICAL PROCESS is STILL NOT YET COMPLETE
- however, they are PROCESSING RECYCLED mobile phone batteries to EARN INCOME and GIVE the REFINERY WORKERS OPERATIONAL EXPERIENCE
- it is interesting in that it PRIVATE EQUITY OUT OF New York that is SHOWING the MOST INTEREST
- ONE IMPORTANT DETAIL stands out:
* unlike Fortune Minerals, they are WILLING to SIGN OFFTAKE AGREEMENTS (like LG) WITHOUT REQUIRING STRATEGIC INVESTMENT in the COBALT REFINER corporate entity
z173