(MENAFN - Newsfile Corp) First Cobalt Discusses Battery Recycling Study and Progress of Cobalt Refinery with The Stock Day Podcast
Phoenix, Arizona--(Newsfile Corp. - March 31, 2021) - The Stock Day Podcast welcomed First Cobalt (OTCQX: FTSSF) ("the Company"), a company with a mission to be the most sustainable producer of battery materials. CEO of the Company, Trent Mell, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's study regarding battery recycling for nickel, copper, and cobalt recovery. Mell elaborated on the increasing demand for battery metals, as well as the need for battery recycling. "It's the perfect storm for us, and we're eighteen months away from production at our refinery in Canada.," shared Mell. "The battery recycling represents Phase II of our business plan, while Phase I is the refining using primary feed stocks," he explained. "Once we have the refinery up and running at the end of 2022, we've got a $200 million plant with the team in place and many of the processes that would be required to recycle batteries."
"I've got my team focused on executing the initial recommissioning project that will get us to cash flow, but we're doing a black mass metallurgical work and some desktop work to better understand the recycling opportunity," shared Mell. "We probably won't have any results on Phase II until the summer," he added. "This is going to be a fast-moving industry and I think we can get there first."
Jolly then asked about the Company's Iron Creek cobalt and copper project located in Idaho. "We've done some geophysics on the asset," said Mell. "I've always spoken highly of Idaho as a jurisdiction for cobalt exploration," he added. "This summer we have a team that we're starting to put in place. We're going to build our refinery, work on the black mass, and then the third leg will be Iron Creek where we need to grow that resource," explained Mell. "I'd like to double it in size over the next year or two," he added. "The feed for the refinery is going to be coming from overseas, but if we can back fill that with domestic battery material and feed from Idaho then we will have a good supply chain from North America."
Mell then elaborated on the increasing values of cobalt, which has settled around $53,000 per tonne over the past few months. "It's a great environment for our refinery, but also a great environment for us to be exploring at Iron Creek," said Mell.
"If you look at America, we're coming out of COVID and consumers are starting to spend and will continue to spend, and we know the power of the American consumer. We're going to have some favorable policies come from the Biden Administration." shared Mell. "If we could have that kind of immediate response we saw in 2020 in Europe, imagine what could happen here in the next one to two years," said Mell, adding that the number of EV models will only continue to increase during this time.
"Why should investors look at First Cobalt?", asked Jolly. "Our people, our culture and our commitment to ESG, what we've built into our DNA," said Mell, before elaborating on the experience and dedication of the Company's management team and board members. "That's step one, but then it's cobalt; it's the rarest and most expensive raw material in the cathode," said Mell. "Cobalt is essential for the integrity of the battery," he added. "We're twelve months away from having the buildings put together and eighteen months away from first cash flow."
To hear Trent Mell's entire interview, follow the link to the podcast here: .
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About First Cobalt
First Cobalt's mission is to be the most sustainable producer of battery materials. The Company owns North America's only permitted cobalt refinery, a critical asset in the development and manufacturing of batteries for electric vehicles. First Cobalt owns the Iron Creek cobalt-copper project in Idaho, USA as well as several significant cobalt and silver properties in the Canadian Cobalt Camp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for First Cobalt, filed on SEDAR at . Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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