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eCobalt Solutions Inc.
Summary
| Project: | Idaho Cobalt | |
|---|---|---|
| Deposit: | Idaho Cobalt | |
| Location: | United States | |
| Commodities: | Cobalt-Copper-Gold | |
| Date: | 1/10/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Pre-Feasibility study | |
| Report details: | 10-1-2017: eCobalt Solutions Inc. announces a PEA report for its Idaho Cobalt deposit at the Idaho Cobalt project. Amended PEA results incl. post-tax NPV (8.5%) of US$113M, IRR of 24.1%. Formation Capital Corporation, U.S. (FCC or Formation), a Nevada reg | |
| Resources: | (Resource, Meas. + Ind.): 3.48Mt @ 0.55% Co, 0.75% Cu, 0.017g/t Au | |
| CP/QP: | [Overall Report]: Matt Bender (Samuel Engineering Inc.) | |
| ABSTRACT: | Formation Capital Corporation, U.S. (FCC or Formation), a Nevada registered corporation, is a wholly owned subsidiary of Formation Metals Inc., a British Columbia registered public company trading under the symbol FCO on the TSX. FCC holds all of the titles, rights, benefits and obligations to the Idaho Cobalt Project, thus Formation Metals Inc. owns 100% of the Idaho Cobalt Project. In January 2015, FCC commissioned a Preliminary Economic Assessment (PEA) for its Idaho Cobalt Project (ICP or the Project). The purpose of the study was to assist FCC in making decisions with respect to the potential development of the revised ICP. Whereas the original feasibility design, centered around the Cobalt Production Facility (CPF), produced high purity cobalt metal, the revised ICP is focused on producing battery grade cobalt cathode chemicals (cobalt sulfate heptahydrate). The CPF will also produce copper sulfate, magnesium sulfate, a clean copper concentrate and gold as saleable by-products. The PEA was prepared to define the overall scope of the ICP, perform preliminary mine planning based on a new block model, develop the revised CPF flowsheet and process design, report on preliminary metallurgical testwork, estimate capital and operating costs, and determine the economics to develop the ICP as an underground mine, mill, concentrator and refining facility. All monetary values contained herein are disclosed in US dollars unless otherwise stated. The PEA follows several years of site work by numerous companies and consultants, including the previous full feasibility level design to produce high purity cobalt. This resultant PEA report is a compilation of the results of the ICP study up to this point in time. Site, investigative and metallurgical work continues with the intention of advancing this PEA to a feasibility study. | |
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