eCobalt Solutions Inc. (TSX: ECS; OTCQB: ECSIF) (the “Company” or “eCobalt”) is providing its shareholders with an update on the Company’s Feasibility Study for the 100% owned Idaho Cobalt Project (“ICP”). The ICP is the only near term, environmentally permitted, primary cobalt project located in the United States. In 2016 eCobalt commissioned the Feasibility Study with Micon International Limited (“Micon”) and SNC-Lavalin (“SNC”). Since the Company’s May 31, 2017 update, engineering efforts have focused on mine schedule optimisation and third-party review of the mine planning parameters. A preliminary mine schedule has been provided to Small Mine Development (“SMD”) for costing. The Company anticipates the project’s capital cost estimate to be completed near the end of June. SMD, headquartered in Boise, Idaho, has a solid reputation for providing safe, productive and innovative underground, hardrock mining solutions.
As quoted in the press release:
“eCobalt is well positioned to capitalize from the bullish cobalt market,” commented Paul Farquharson, President & CEO of eCobalt. He continued, “As expected, many new players have recently entered the cobalt sector, however, the ICP remains the sole near term, permitted cobalt mine in the US. Our comprehensive and detailed Feasibility Study, which will be available soon, will assist us in securing financing to get this project into production. In the meantime, the Company is focused on adding strength to our Board of Directors and our senior management team.”