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This profile is part of a investor education campaign. The profile provides detailed information which was sourced and approved by Global Energy Metals Corporation in order to help investors make better investment decisions. The Company’s support of Investing News Network ensures we can continue to bring you unbiased, independent news and information.

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Global Energy Metals – The Mineral Bank for Battery Materials

Overview

Global Energy Metals Corporation (TSXV:GEMC) is focused on offering security of supply of cobalt, a critical material to the growing rechargeable battery market, by building a diversified global portfolio of cobalt assets including project stakes, projects and other supply sources. GEMC anticipates growing its business by acquiring project stakes in battery metals related projects with key strategic partners. Global Energy Metals currently owns and is advancing the Werner Lake Cobalt Mine in Ontario, Canada. Global Energy Metals has also entered into an agreement to earn-in to the Millennium Cobalt project in Mt. Isa, Australia.

The GEMC team, with over a decade of cobalt-focused experience, recognized early that cobalt was essential to lithium-ion battery chemistries.   Through years of working with downstream users, including its strategic partnership with Beijing Easpring Material Technology Co. (Easpring), the Company recognized that there is a pressing need to create a diversified, viable supply of material to offset the reliance from DRC sourced cobalt.  GEMC’s partnership with the battery cathode manufacturer is unique.  The company went downstream, direct to the supply chain to ensure that it receive project finance, metallurgical and feasibility support for projects and material purchase.

The Company believes there are significant value opportunities in aggregating projects and building an efficient and reliable raw material supply chain that meets strict end-user specifications in the rechargeable battery sector.

GEMC’s aggregation strategy includes direct investment into advanced cobalt projects, supply through streams, off-take and physical material.

Global Energy Metals is a rare and compelling investment opportunity in the cobalt sector.

Investment Highlights

  • The Millennium Cobalt Project presents an excellent opportunity to acquire a significant cobalt asset in close proximity to a processing solution and excellent infrastructure in Queensland, Australia
  • 100-percent owned Werner Lake Cobalt project has had extensive underground development, engineering and metallurgical work completed to date.
  • Strong management team with extensive experience in battery metals project exploration, development and supply chain research and analysis.
  • Maximizing shareholder value via project level joint ventures with long-term strategic partners.

Cobalt

Cobalt Matters

The energy storage revolution is propelling high demand for the key battery minerals. Battery giants are scaling up battery production with mega-factories and are actively acquiring raw materials through off-take agreements. Traditional metal miners are scaling back production resulting in supply constraints in by-product metals such as cobalt critical to battery chemistry. Global Energy Metals is quickly leveraging its strategy of material supply against global estimates that see consumption for refined cobalt to exceed 100,000 tonnes in 2017. While demand growth for most metals has stalled in recent years, cobalt demand continues to grow strongly propelling the price to decade high with demand brought on by the energy storage revolution. In addition to the demand from rechargeable batteries used in consumer electronics continues to be robust, the prospect of a booming Electric Vehicle market is expected to further increase upside demand potential with some estimates indicating that demand for cobalt to grow at an average rate of approximately 5-8% per annum for the next several years.

Cobalt Demand

Cobalt applications can be subdivided into two broad segments, chemical and metallurgical.

  • Cobalt for chemical applications dominated by the rechargeable batteries segment.
    • Key sectors include Li-ion batteries for electric vehicles (EVs), Li-ion batteries for other applications (laptops, PCs, smartphones etc.), polyester and tyres.
  • Cobalt for metallurgical uses primarily in high temperature alloys.
    • Key sectors include Superalloys (aerospace rotating parts, defense, power generation, thermal sprays, prosthetics etc.), high-speed (HS) steel, carbide and diamond tools and magnets

cobalts-end-market-table-gmec

Total cobalt demand to exceed 120,000 tonnes per annum by 2020, up approximately 30% from the 93,950 tonnes consumed in 2016 (Darton Commodities, 2016).

Expectation for projected battery consumption will account for 59% of all cobalt demand in 2020, representing a 58% increase in battery demand from 2016 levels (Darton Commodities, 2016).

This growth in battery consumption is expected to principally come from increased electric vehicle demand. The rechargeable battery segment has become both the largest and potentially fastest growing end-use of cobalt.

The use of lithium-ion batteries in the electric vehicle market has become the most important growth driver for cobalt demand.

At the end of 2016, the number of EVs in existence reached in excess of two million with approximately 737,000 EVs and plug-in hybrid electric vehicles (PHEV) were sold around the world in 2016 (Darton Commodities, 2016.

Growing market adoption has been supported by the development of a reduction in EV battery pack systems cost vehicles, infrastructure along with government incentives.

At the current rate of improvement, EV drivetrains are forecast to become competitive with combustion engines within 5 to 10 years.

Industrial and home grid energy storage systems like the Tesla Powerwall, are increasingly using lithium-ion batteries due to their charge acceptance, longer shelf life, reliability and lower total cost of ownership.

probaltic-supply-chain-gmec

Cobalt deposits can be found throughout the world and are most prominent in the African Copper Belt with over 60% of global cobalt production from a single country

– the Democratic Republic of the Congo (DRC).

DRC is the antithesis of stability and has a long and checkered history tarnished by internal conflict, civil war and infrastructure issues.

China controls the majority of refined global cobalt output and is reliant on the DRC for over 90% of its cobalt supply.

There is a strong possibility of future geopolitical risk in the DRC resulting in significant material disruption to cobalt output with potential for a serious global cobalt supply squeeze

In 2016 approximately 60% of cobalt mined was as a by-product of copper, 38% as a by-product of nickel, and the remaining 2% from primary cobalt mines.

The main implication of this is that, unlike most base metals, changes to global copper and nickel production are the main determinants of changes in cobalt production rather than the supply-demand dynamics and pricing of cobalt itself.

It is expected that short-to-medium term cobalt supply will increase although at a slower pace than demand creating a supply deficit up until the end of 2019.

Strategic Partnerships

Beijing Easpring Material Technology Company Ltd.

GEMC has a strategic cooperation agreement with Beijing Easpring Material Technology Company Ltd. (“Easpring”), a leading battery manufacturing company, to jointly invest in and develop cobalt projects.

Easpring is recognized as a leader in its industry and was the first Chinese supplier to export lithium cathode material to multiple overseas markets. Founded in 2001 and based in Beijing, China, Easpring engages in the research, development, refinement, production and sale of energy materials. It offers lithium cobalt oxide, multi-element oxide, lithium manganese oxide, and other cathode materials for small lithium batteries and power batteries, as well as electronic ceramics materials. The company is a leading specialized supplier of cathode material for lithium-ion batteries to industry giants.  At present, Easpring supplies five of the world’s six largest lithium battery manufacturers, and is the only Chinese supplier of high quality cathode materials to China, Japan and Korea’s high-end lithium ion battery markets.

As part of the strategic cooperation agreement, GEMC and Easpring have agreed to a joint venture that will allow for the identification, acquisition, development, funding and commercialization of cobalt projects.  GEMC will acquire the expertise and relationships that Easpring offers, including low-cost capital from Chinese institutions, leading Chinese engineering and construction expertise, as well as Chinese machinery, equipment and other critical suppliers that meet world-class standards of quality at competitive costs in exchange for access to GEMC’s project development opportunities.

New Tigers Consulting Limited

New Tigers Consulting Limited (“New Tigers” and/or “NTC”) have been appointed as China Representative to seek additional investors and material supply partners in Mainland China, Hong Kong and Taiwan.

As China Representative, NTC will be responsible for marketing commercial mineral opportunities, establishing joint programs and material contracts, and will assist GEMC to build stronger relationships with Chinese battery cathode manufacturers.

In addition, NTC will introduce Chinese capital to invest into GEMC through direct project level stakes.

New Tigers has successfully financed, advised, facilitated off-take, created partnerships and developed strategic plans for both international and Chinese companies intending to expand their business activities in the overseas markets.

New Tigers is headquartered in Suzhou, Jiangsu Province, P. R. China, a major economic centre and focal point for trade and commerce.

NTC also has branch offices in Shanghai, Beijing, Shenzhen, Dublin (Ireland) and Toronto, Ontario (Canada).

Projects

Millennium Cobalt Project

GEMC has entered into a binding letter agreement with Hammer Metals Ltd.(“Hammer”) for the exclusive right to earn up to a 75% interest, in the Millennium Cobalt Project (the “Project” and/or “Millennium”) upon making project related expenditures to further advance the property. Total consideration for the option is CAD $2,700,000. Millennium is an advanced mineral exploration and development property located in the famed Mount Isa mining region of Australia.  Additionally, GEMC holds a right of first refusal (“RoFR”) to acquire any additional interest in the Project, which Hammer may wish to sell.

 australian-milennium-table

*The historical estimates at Millennium are not being treated as a mineral reserve or mineral resource. A qualified person has not done sufficient work to classify the historical estimates as mineral resource or mineral reserves. Additional drilling and testing is required to determine a classification as a mineral resource or mineral reserve under current NI 43-101 standards. The Company is not treating the historical information as a current mineral resource or mineral reserve.

Future Progress at Millennium

The Project presents as an excellent opportunity to acquire a cobalt asset of significant size with potential to expand mineralisation in close proximity to a processing solution and excellent infrastructure within the Mount Isa region of Queensland, Australia.  It is anticipated that GEMC will conduct further infill drilling to tighten drill spacing and test for potential extensions at depth and along strike, which the Company believes, could result in a material increase in the size of the current JORC resource.  This drilling should also enable continuity modeling quality to be increased for each variable allowing for a higher classification of Indicated or Measured under resource reporting standards for resource estimates.

As the current resource model has been expressed on a CuEq basis and given the current strength of the cobalt price and long-term positive fundamentals and outlook for the cobalt market, GEMC will look to evaluate the deposit moving forward with a more cobalt centric position.

Werner Lake Cobalt Project – Canada’s Cobalt

The project is located near the Ontario-Manitoba border in the Kenora Mining District. The Werner Lake Geological Belt hosts numerous cobalt-copper and base metal showings, deposits and past producing mines.The Werner Lake Cobalt Mine produced cobalt ore in the 1930s and 1940s and was taken to production decision again in the late 1990s. At the time, infrastructure was put in place, including four season road, mill buildings, and tailings settling area. Decline ramp, drifts and raises of over 258 metres were driven into the heart of the deposit.

wener-lake-table

The historical estimates at Werner Lake are not being treated as a mineral reserve or mineral resource. A qualified person has not done sufficient work to classify the historical estimates as mineral resource or mineral reserves. Additional drilling and testing is required to determine a classification as a mineral resource or mineral reserve under current NI 43-101 standards. The Company is not treating the historical information as a current mineral resource or mineral reserve.

Future Progress at Werner Lake

The work plan will include an updated NI 43-101 resource on a small portion of the potential resource area around the historic underground workings at the “Old Mine Site”, now referred to as the MInesite Deposit and the West Cobalt Deposit.  GEMC will also seek specific permits to allow for the dewatering of the historic underground workings and attempt to access those workings to collect a bulk sample to complete metallurgical testing.  This testing will help the Company determine what type and quality of battery grade material is potentially produceable from the site, building on the significant metallurgical work of previous operators. Based on the results of the NI 43-101 resource report, the Company will seek to add additional mineralisation through diamond drilling in areas of the greatest potential.  At present both the Minesite and West Cobalt deposits remain open at depth and along strike.

Global Energy Metals will be assessing the Werner Lake Cobalt Mine project based on the very significant increase in cobalt prices from USD $10 to USD $25 per pound since March 2016

 

Board of Directors

Erin Chutter, Executive Chairperson & Director

  • Founder of Puget Ventures, and previous Officer/Director of Global Cobalt.
  • Previous consultant for Platinum Group Metals, Mag Silver, West Timmins Mining.
  • Expertise in management, finance, M&A, strategy and operations acted to put in place innovative offtake and finance mechanism with battery manufacturers.
  • From 1992-2001, Ms. Chutter held various positions for federal and provincial government officials, including the Leader of the Federal Opposition, Minister of Indian Affairs and Minister of Defence.
  • Chutter sits on the Board of the MacDonald Laurier Institute, and is the Chair of the Canada Eurasian Russia Business Association, Vancouver Chapter.
  • Chutter is a director of Khot Infrastructure Holdings Ltd., a CSE listed infrastructure company, and a former director of NioCorp Development Inc., a TSX listed mining company.
  • Chutter is the Honourary Consul of Russian in Vancouver.

Paul Sarjeant, VP Projects & Director

  • Sarjeant, P. Geo, has extensive exploration, project evaluation and acquisition experience both in Canada and internationally and has managed several junior resource companies.
  • Sarjeant began his career with Echo Bay Mines Ltd. as a project geologist working on projects in the NWT, Archean greenstone belts, Lupin Mine peripheral project, and skarn properties in BC and Ecuador.
  • He was appointed Senior Geologist, International Exploration Group, responsible for project evaluation outside of North America, including precious and base metals projects in South America, East Africa, South East Asia, Russia, Mongolia, Australia, New Zealand and Europe.

Gaston Reymenants, Director

  • Reymenants has a distinguished career in mining, smelting, refining and metal trading that has spaned over forty years, during which, he was also responsible for the financing of several off-take projects in Australia, China and the Americas.
  • He served over 20 years with Falconbridge International in various managerial positions and was part of the joint venture with Norilsk Kombinat.
  • Reymenants was the managing director of Kola International Murmansk, and held director and/or senior managerial positions with several companies with cobalt assets including Baja Mining, Polymet Mining and KCM.

Peter Reynolds, Director

  • Reynolds has been engaged by EBRD to carry out reviews of EBRD’s investments for several projects in Mongolia, Central Asia and Russia.
  • Reynolds holds professional designations with the Australasian Institute of Mining and Metallurgy, Canadian Institute of Mining and the Australian Institute of Company Directors.
  • He has over 45 years experience in the minerals industry, with high-level experience at various mines including being formerly Manager of Operations Planning & Mine Projects/Manager Mine Business Improvement for BHP Billiton at Olympic Dam, Managing Director of ASX listed Marlborough Resources, Director of ASX listed Outback Metals and manager of several of Normandy Mining’s operations.

Ray Castelli, Director

  • Castelli was appointed CEO of Weatherhaven, one of the world’s leading manufacturers of redeploy able camps and shelter systems, in January 2008.
  • Weatherhaven has grown to become a key supplier to the Canadian, US, Australian and NATO armed forces, numerous resource exploration companies as well as the United Nations and other disaster and humanitarian relief agencies.
  • Castelli was co-founder and Senior Vice President of Quadrem, a Dallas-based global supply chain and e-procurement company, serving 19 of the world’s largest natural resource companies, including Rio Tinto, BHP Billiton, Alcan and Inco. His role was to build the global organization and product set for this e-business pioneer
  • Castelli joined Alcan in 1995 following business school in Europe. He was promoted to Alcan’s Montreal headquarters in 1997 as Director of Strategic Planning.

 

Management

Mitchell Smith, President & CEO

  • Prior to being appointed President & CEO of Global Energy Metals, Mr. Smith held increasingly senior capital market positions through his involvement with various mining groups including Global Cobalt Corp, International Barytex Resources and Petaquilla Copper Ltd.
  • Accomplished executive and business development professional with deep experience and proven success developing and executing on corporate strategies, marketing relationships and maximizing business opportunities for long-term engagement and strategic relationships.
  • Profound understanding of the natural resources sector, capital markets and current market trends.
  • Early adopter to the battery space recognizing the proliferation and mainstream appetite for handheld smart devices, mobiles phones and EVs and the critical role the metals associated with the market would play
  • Negotiated and structured off-take agreements for cobalt material and built relationships with Chinese battery manufacturer intermediaries and facilitated commerce by arranging joint ventures, marketing and engineering and procurement construction contracts.

Luis Hadic, Chief Financial Officer

  • Hadic brings more than 10 years of accounting experience across various sectors including, technology, mineral exploration and mining and manufacturing industries focusing on financial reporting, regulatory compliance, internal control and corporate finance activities.
  • Hadic has held CFO and controller positions with several private and public companies and worked as a corporate financial consultant.
  • Hadic has also worked in the banking sector for over five years.
  • In 1997, Mr. Hadic concluded his studies at the University of Uruguay in the Faculty of Marketing and Sales.

Paul Sarjeant, VP Projects & Director

  • Sarjeant, P. Geo, has extensive exploration, project evaluation and acquisition experience both in Canada and internationally and has managed several junior resource companies.
  • Sarjeant began his career with Echo Bay Mines Ltd. as a project geologist working on projects in the NWT, Archean greenstone belts, Lupin Mine peripheral project, and skarn properties in BC and Ecuador.
  • He was appointed Senior Geologist, International Exploration Group, responsible for project evaluation outside of North America, including precious and base metals projects in South America, East Africa, South East Asia, Russia, Mongolia, Australia, New Zealand and Europe.

Ian Spence, Australasia Acquisitions

  • Ian brings to GEMC extensive experience in the international exploration, resource development and mining sector, having held a number of directorships and senior operational and general management roles over several years with a number of international resource companies in a number of commodities.
  • Spence is a Sydney-based geologist who has specialised in cobalt, copper, gold, silver and heavy mineral sands discovery and development. As an expert field-oriented exploration and evaluation geologist, Ian has been project initiator and manager in many successful discoveries, acquisitions and mineral resource development and open pit and underground mining capabilities.
  • Spence has previous experience in cobalt projects in Australia and internationally.
  • His most recent exposure was as Managing Director with Broken Hill Minerals Pty Ltd. where he was involved with the early assessment of Broken Hill Prospecting’s Pyrite-Cobalt project towards feasibility before it was spun out and subsequently listed on the Australian Stock Exchange as Cobalt Blue Holdings Limited.
  • He has extensive experience in the international finance and capital markets arena, having spent several years in an analytical and capital raising capacity for a number of Australian and international based capital firms.
  • His strong capital raising abilities are complimented with extensive experience in IPOs, marketing communication with stakeholders, as well as joint venture negotiation.
  • Ian holds a Joint Honours Bachelor of Science in Geology & Petroleum Geology from The University of Aberdeen, UK, a Master of Science in Mineral Exploration & Mining Geology from The University of Leicester, UK and a Master of Business Administration from The University of Western Australia.

Jaime Stallwood, Corporate Development

  • 30 years entrepreneurial experience managing companies from early stage development to multi-million dollar NASDAQ listed companies on both the operations and corporate levels.
  • Managed a national sales force in excess of 200 salespeople for a national Telecom Provider while at the same time implementing national consumer marketing and initiatives.
  • Key involvement with LML Payment Systems (a NASDAQ listed company) that was sold for $110M in first quarter of 2013.
  • Has participated in numerous M&A transactions as well as subsequent integration, utilization and marketing activities.

Graham Abbott, Corporate Communications

  • Abbott has 12 years of corporate experience with Telus, with involvement in business sales, operations and team management and responsibility for multi- million dollar transactions.
  • In-depth experience with long-cycle corporate deal development and complex relationship management.
  • Involvement with several public companies in business and corporate development (both strategic and financial), operations management and shareholders relations activities.
  • Key member of team responsible for consolidating and finalizing the Salares Lithium property package into the publicly listed company that became Talison Lithium. Talison Lithium was acquired for over $750M in the first quarter 2013.

Strategic Advisors

James Gilbert, Partner

  • Jim has 20+ years of mining and metals investment, financing and transaction expertise, acquired in advisory, executive leadership and governance roles in both publicly-listed and private companies.
  • His experience includes the structuring, negotiation and closing of base and precious metals project financing transactions, for single and multi-sponsor projects totalling billions of dollars, as well as the underlying joint venture arrangements among project sponsors – including strategic partners and offtakers.
  • He has also executed corporate and asset level mergers and acquisition transactions involving mining companies and projects in North America, Latin America, Europe and Africa.
  • Jim has held senior level positions with First Point Minerals Corp., Minera S.A, Gerald Metals Inc. and Rothschild’s mining and metals investment banking group.

Chris Berry

  • Chris is a well-known writer, speaker, and analyst with a focus on energy metals supply chains, specializing in lithium, cobalt, and graphite.
  • He is the co-author of a newsletter focused on discovery called The Disruptive Discoveries Journal.
  • He was a member of a group, which co-founded The Discovery Investing Scoreboard, a program designed to use crowd sourced information to rank equities of various market capitalizations.
  • Chris spent 15 years working across various roles in sales and brokerage on Wall Street before devoting his efforts towards macro economic and natural resource analysis.
  • He holds an MBA in Finance with an international focus from Fordham University, and a BA in International Studies from The Virginia Military Institute.

Jon Hykawy, PhD (Physics), MBA

  • Partner at Stormcrow Capital, a Toronto based research, consulting, and capital markets firm, which focuses heavily on niche industrial materials that are critical in energy and technology applications.
  • Brings deep technical and market expertise in lithium, cobalt, graphite, tin, and others.
  • 15+ years of capital markets experience as Senior Analyst or Head of Research at independent Toronto investment banks
  • Chalk River Nuclear Laboratory of AECL
  • Sudbury Neutrino Observatory

Tom Chudnovsky

  • Partner at Stormcrow Capital
  • 10 years of Investment Banking, Institutional Sales, and Institutional Agency Trading experience
  • Tom’s past capital markets experience include being VP, Investment Banking at Byron Capital Markets, VP, Institutional Equity Sales at Byron Capital Markets, Institutional Equity Trader at Blackmont Capital and Institutional Equity Trader at Clarus Securities Inc.

 

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