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Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) announced that it has received the final metallurgical test work report on bench test production of cobalt sulfate heptahydrate crystals suitable for the rechargeable battery sector produced from ore samples from Formation’s Idaho Cobalt Project.
Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) announced that it has received the final metallurgical test work report on bench test production of cobalt sulfate heptahydrate crystals suitable for the rechargeable battery sector produced from ore samples from Formation’s Idaho Cobalt Project.
As quoted in the press release:
Results from this report have allowed management, in conjunction with its team of engineers and metallurgists, to develop initial specification sheets for two of its anticipated end products, specifically cobalt sulfate heptahydrate crystals for use in the rechargeable battery sector and a scalped copper concentrate suitable for established smelters to process. With this information, Formation intends to pursue potential offtake arrangements to assist in the development of the ICP.
Formation Metals President and CEO, Paul Farquharson, stated:
Having the spec sheets and flow sheets defined facilitates our moving forward with pursuing offtake and other potential means to assist in the future development of the ICP”, he continued, “These developments coincide with an improved outlook for the cobalt markets with deficits expected this year and increasing significantly into 2018 — previous deficit situations in the cobalt market resulted in significant rises in the commodity price.
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