First Cobalt (TSX.V: FCC) (OTCQX: FTSSF), a vertically integrated North America pure-play cobalt company, recently said it has acquired 100 percent ownership of its Iron Creek property. A recent article discussing the company reads: “The property consists of mining patents and exploration claims that have some infrastructure already in place, including drifting from three adits and an all-weather road that connects to a state highway. The project was under lease to First Cobalt with terms that required the company to make monthly payments and grant a four percent royalty to the leaseholder, but First Cobalt’s $1.07 million payment cleared the obligations. The deal marked a 47 percent reduction of the expected price tag, and First Cobalt’s cash balance of $20 million with an additional $2 million in assets (as of June 30) leaves it in a strong position to move forward with the mine planning process. The company is fully financed to complete all additional drilling programs currently scheduled, and it has begun collecting data for future permit requirements.”
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About First Cobalt Corp.
As a vertically integrated North American cobalt company, First Cobalt’s strategy is to explore, develop and refine material in North America for sale back into the American battery market. First Cobalt has three significant North American assets: the Iron Creek Project in Idaho, which has a historic mineral resource estimate (non-compliant with NI 43-101); the Canadian Cobalt Camp, with more than 50 past producing mines; and the only permitted cobalt refinery in North America capable of producing battery materials. For more information, visit http://nnw.fm/FTSSF
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