First Cobalt Optimistic North American Refinery Can Produce High-grade Cobalt Sulfate

First Cobalt Corp. (TSXV:FCC; OTCQX:FTSSF) has been featured in a recent article in the Financial Post regarding the company’s Feasibility Study conducted on the First Cobalt refinery in Ontario, Canada. The article discusses the economic potential of the refinery in the context of the North American cobalt market.

First Cobalt CEO Trent Mell is optimistic the company can become North America’s first cobalt sulfate refinery, however, he recognized the economic uncertainty caused by COVID-19 could delay further development discussions. “The issue is we’re all distracted,” Mell told the Financial Post. The independent Feasibility Study released by First Cobalt outlined an initial capital investment of $56 million in addition to an operating cost of $2.72 per pound of cobalt produced. The study assumed a cobalt price of $25 per pound.

Moving forward, Mell is hopeful that the company can secure a tolling agreement for the refinery.

To read the full article, click here.

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