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First Cobalt Corp. (FCC.V)
TSXV - TSXV Real Time Price. Currency in CAD
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First Cobalt Commences Pre-Construction Activities
Receives $4.5 Million from Warrant Exercises
First Cobalt Corp. (TSX-V: FCC; OTCQX: FTSSF) (the "Company") is pleased to announce that it has commenced certain pre-construction activities, including advancing engineering and tendering associated with long lead order procurement.
• $16 million in working capital, including $4.5 million in early warrant exercises and $9 million in net proceeds from the financing completed January 22
• In addition to the working capital position, the Company announced a $10 million investment by the Government of Canada and the Government of Ontario towards the refinery capital costs and an additional $4 million in immediate consideration will be received upon closing of a silver transaction announced in December 2020
• First Cobalt is commencing detailed engineering and procurement for long lead order equipment, notably the cobalt crystallizer as well as solvent extraction and filtering equipment
• Pilot plant testwork is ongoing to assess further improvements to the refinery flowsheet. Cobalt solvent extraction is scheduled to commence at the beginning of February and is expected to be completed by February 20
• The Company is negotiating an engineering, procurement, construction and management (EPCM) contract with Ausenco Engineering Canada Inc.
Trent Mell, President & Chief Executive Officer, commented:
"The commencement of pre-construction activities brings us one step closer to our vision of producing the world’s most sustainable cobalt. Our strong treasury allows us to build a project team and commence procurement and detailed engineering while we complete a debt financing process. 2021 is all about execution.”
First Cobalt has begun to assemble an owner’s team for project execution to advance the refinery project while discussions for the debt component of the capital project continue to advance. Detailed engineering and procurement for long lead order equipment will allow the Company to remain on track with its project schedule.
First Cobalt’s treasury continues to strengthen, with recent share price performance resulting in over $4.5 million in early warrant exercises. Certain officers and directors of the company voluntarily exercised warrants to bolster the Company’s cash position. The Company’s working capital stands at approximately $16 million with an additional $14 million expected to come from the government contributions to the project capital costs and the closing of a previously announced transaction with Kuya Silver.
Working on gathering enough shares for a board seat.
3top stocks for 2021 One of them is FCC
Added 20,000 more shares today. 🚀🚀🚀🚀🚀
Been reading up about Ausenco. Looks like a great company to be working with. Hope FCC can agree to terms.
We've got a new analyst, GOLDI don't know much about them, but they have a standard good video outlining FCC and what they like about FCC on YouTube. Here are their targets (in American funds I believe): 3-6 mo. - .40-.55 cents/ 6-9mo. - .69-.84 cents/ 9-12mo. - $1.30.
Cobalt spot price is rising fast, that and all these new paid bashers that have recently appeared out of thin air, have me pretty excited for the future of this company. Have a Good Friday everyone.
@TrentMell - "closing of our financing now scheduled for tomorrow before market open. A day later than anticipated due to some minor closing mechanics..."
anyone know which financing exactly he is referring to? New or old?
Fellow longs and legitimate newbs... regarding all of the new spammer accounts, please help me by not just muting them (although I know that's much easier), but we need to utilize the 'Report Abuse' feature too. Hopefully this will get their comments remove not just for your view, but for anyone else new coming to check out what First Cobalt has to offer. Depending on the comment, I have been using both 'inappropriate comment' and 'looks like spam' options. It would be one thing if any of these posts had any sources, facts, relevance, etc., but this is very clearly and obviously 100% spam that we need to get rid of.
TORONTO, Jan. 22, 2021 /CNW/ - First Cobalt Corp. (TSXV: FCC) (OTCQX: FTSSF) (the "Company") is pleased to announce that it has closed its previously announced bought deal offering (the "Offering") of units of the Company (the "Units"). The Offering was conducted by a syndicate of underwriters led by Eight Capital, together with CIBC World Markets Inc., Canaccord Genuity Corp., Red Cloud Securities Inc. and Mackie Research Capital Corporation (collectively, the "Underwriters") and consisted of the sale of 31,533,000 Units (including the full exercise of the over-allotment option by the Underwriters) at a price of C$0.31 per Unit (the "Offering Price") for aggregate gross proceeds of $9,775,230.
From 2012 to 2017, the top uses for Cobalt in the USA were as following.
1: Super Alloys
2: Ceramics and chemicals
3: Steels and other metallurgical applications
EV's, Batteries, 5G, and aerospace were not enough to be worth annotating. The future of technology is changing and the era we are embarking on will require more Cobalt for more reasons than we have ever needed or forecasted for in the past. I'm merely pointing out the future demand of it as a commodity.
Yes it is a junior, and if FCC was to fail completely, someone else will buy it out and see it to completion. The world around the corner, and the technology that will drive it, requires Cobalt now more than ever and cannot progress without it. For that reason I see it a reasonable speculation to invest in FCC. In a world where China controls 80% of the Cobalt sulphate, a North American refinery never looked so good. Cheers.
greeting to all OGs. Just start my position here. See you guys around. Do you guys have anything to let the newbie knows ?
Glencore statement on child labour allegations
go to see warrants at .50$ in 24 months ... the buyers have confidence in the company to increase share value
First Cobalt Closes $9.8 Million Bought Deal Unit Offering
22 Jan 202110:25 ET
10:25 AM EST, 01/22/2021 (MT Newswires) -- First Cobalt Corp. (FCC.V) on Friday said it has closed a bought deal offering of units, raising $9.8 million in gross proceeds.
The offering consisted of 31,533,000 units, including the full exercise of the underwriters' over-allotment option, at $0.31 apiece. Each unit consists of one First Cobalt common share and one-half of one common share purchase warrant. Each warrant is exercisable into one common share at an exercise price of $0.50 apiece for 24 months from the close of the offering.
What is this trading halt about? Any ideas?
This child labour scenario really poisoning this stock. I think Trent Mell should set the record straight before the SP drops like a ROCK in a ocean deep down right to the bottom landing in seaweed. Who wants to invest in a stock considering an associate of FCC'S
named GLENCORE also has another extremely very concerning bribery civil suit against them. Trent Mell time to speak up and tell the truth in whats really going on.
Do your DD. While TESLA, GOOGLE band APPLE are getting sued for their involvement in cobalt businesses and trying to get out of it, FCC is going in head first. I see see a lot issues and market pivoting to other materials other than cobalt leaving FCC hanging dry. Do your DD read up on it!!!! FCC may have issues down the line.
very good info..mahalo
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