Phoenix, Arizona--(Newsfile Corp. - October 16, 2019) - The Stock Day Podcast welcomed First Cobalt (OTCQX: FTSSF) ("the Company"), a North American cobalt company and owner of the only permitted primary cobalt refinery in North America. President and CEO of the Company, Trent Mell, joined Stock Day host Everett Jolly.
Jolly began the interview by asking Mell about the Company's recent announcement of a $5 million loan secured from Glencore AG. Mell explained that the increasing value of cobalt has lead companies to look for opportunities to process their cobalt outside of China. Mell shared that the deal with Glencore will fund a feasibility study for the operations and expansion of their North American refinery. Mell also added that the feasibility study will likely be completed by February of 2020.
Jolly then noted cobalt is currently up around 45% since August, however cobalt equities have not experienced the same increase. Mell explained that equities typically take longer to respond to the rising value, and added that many investors may be unaware that the supply and demand of cobalt has experienced a drastic turnaround.
"Why is this metal so important worldwide?", asked Jolly. Mell explained that one of the primary uses for cobalt is for lithium-ion batteries. "This didn't exist twenty years ago, so it's a huge strain on the supply chain.", said Mell. "About 60% of refining is out of China and about 80% of cobalt into lithium-ion batteries is out of China.", added Mell, noting that opportunities outside of China are limited, giving the Company a unique position in the market.
Jolly then asked about the investment potential of cobalt. Mell shared that investors who believe in the electric vehicle movement will want to consider the value of cobalt to this industry. He also shared that cobalt companies are extremely rare, especially when it comes to investable cobalt companies. "We're a year away from cash flow.", said Mell, adding that the Company is fully funded and proudly operates within the United States. "There are so many things going in our favor."
Mell then expanded on the Company's flagship refinery, which will be significantly advanced and expanded throughout the feasibility study. "We're looking at about a Q1 completion date for the feasibility study, and the permits are in place.", explained Mell. "We want to go up to 55 tons per day of production."
To close the interview, Mell shared that the Company is continuing to follow an aggressive growth strategy to reach cash flow. He added that the Company has worked extensively with their mining and acquisition strategies in the past to grow the Company to its current stage, which will allow them to set their primary focus on getting the refinery fully operational.
To hear Trent Mell's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7397646-first-cobalt-discusses-the-development-of-their-north-american-cobalt-refinery-with-the-stock-day
About First Cobalt
First Cobalt is a North American cobalt company and owner of the only permitted primary cobalt refinery in North America. The Company recently entered into a US$5 million loan facility with Glencore AG to complete feasibility study to recommission and expand the refinery under a long-term supply arrangement. First Cobalt's main cobalt project is the Iron Creek Cobalt Project in Idaho, USA , which has an inferred mineral resource estimate available on the Company's website. The Company also controls a significant land package in the Canadian Cobalt Camp, spanning over 100 km2 which contains more than 50 past producing mines.
On behalf of First Cobalt Corp.
President & Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About The "Stock Day" Podcast
Founded in 2013, Stock Day is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Stock Day provides companies with customized solutions to their news distribution in both national and international media outlets. The Stock Day Podcast is the number one radio show of its kind in America. Stock Day recently launched its Video Interview Studio located in Phoenix, Arizona.
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