eCobalt Provides an Update on the Idaho Cobalt Project Optimization

eCobalt Solutions Inc. (TSX: ECS; OTCQX: ECSIF; Frankfurt: ECO) (“eCobalt” or the “Company”) is reporting that significant progress has been made to date on optimization of the Idaho Cobalt Project (“ICP”) resulting in a new direction to produce a clean (low arsenic content) cobalt concentrate product, an upstream precursor material for battery cathode production, that may result in material reduction of capital and operating cost at the Cobalt Production Facility (“CPF”).  This product change and other project optimization efforts have the potential to result in a significant improvement in economics for the ICP.  This new opportunity is being pursued in response to changes in battery supply chain dynamics and in-depth discussions with potential offtake partners.
As quoted in the press release:

Mr. Paul Farquharson, President and C.E.O. of the Company commented: “Consolidation of battery materials manufacturing in China to decrease cost and increase production capacity has reduced the premium in the price of cobalt sulphate over cobalt metal.  Due to these changing battery market dynamics, and in response to discussions with numerous potential offtake parties, the Company has determined that delivering a clean cobalt concentrate product is the fastest route to production, generation of cash-flows and reduction of price and technical risk to the project.

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