Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Streetwise-The Energy Report (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

MOU to Process Glencore's Feedstock 'Positive Step' for Cobalt Firm's Refinery

% of readers think this story is Fact. Add your two cents.


Source: Streetwise Reports   05/27/2019

The terms and implications of the arrangement are reviewed in a Canaccord Genuity report.

In a May 21 research note, Canaccord Genuity analyst Eric Zaunscherb reported that First Cobalt Corp. (FCC:TSX.V; FTSSF:OTCQX; FCC:ASX) signed a memorandum of understanding (MOU) with Glencore to process, at First Cobalt’s refinery in Ontario, feedstock supplied by Glencore. “We see this MOU as a positive step for the company,” Zaunscherb added.

The refinery, the only permitted primary cobalt refinery in North America, is not currently operating, and First Cobalt has not made a final decision yet to restart it. However, Glencore, per the MOU, will consider making a loan to fund the capital requirements to recommission the refinery and enter into a tolling agreement with First Cobalt.

The two companies will collaborate on the final flowsheet design, and the refinery could be back in operation in 18–24 months. Glencore’s contributed feedstock would generate about 2,000–2,500 tons per annum of cobalt sulfate from the refinery.

First Cobalt is working with the provincial government as well to possibly streamline and accelerate the permit amendment process.

The energy firm views the refinery opportunity as a way to generate cash flow in the near term as it continues advancing its Iron Creek project in Idaho and its project in Cobalt, Ontario.

Potential catalysts for First Cobalt are further clarity around derisking of the refinery and additional exploration results from Iron Creek.

Canaccord Genuity has a Speculative Buy rating and a CA$0.70 per share price target on First Cobalt; the stock is currently trading at around CA$0.16 per share.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from Canaccord Genuity, First Cobalt, Flash Update, May 21, 2019

Analyst Certification: Each authoring analyst of Canaccord Genuity whose name appears on the front page of this research hereby certifies that (i) the recommendations and opinions expressed in this research accurately reflect the authoring analyst’s personal, independent and objective views about any and all of the designated investments or relevant issuers discussed herein that are within such authoring analyst’s coverage universe and (ii) no part of the authoring analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the authoring analyst in the research.

Analysts employed outside the US are not registered as research analysts with FINRA. These analysts may not be associated persons of Canaccord Genuity Inc. and therefore may not be subject to the FINRA Rule 2241 and NYSE Rule 472 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account.

The authoring analysts who are responsible for the preparation of this research have received (or will receive) compensation based upon (among other factors) the Investment Banking revenues and general profits of Canaccord Genuity. However, such authoring analysts have not received, and will not receive, compensation that is directly based upon or linked to one or more specific Investment Banking activities, or to recommendations contained in the research.

Canaccord Genuity or one or more of its affiliated companies intend to seek or expect to receive compensation for Investment Banking services from First Cobalt Corp. in the next three months.

The primary analyst, a member of primary analyst’s household, or any individual directly involved in the preparation of this research, has a long position in the shares or derivatives, or has any other financial interest in First Cobalt Corp., the value of which increases as the value of the underlying equity increases.

An analyst has visited the material operations of First Cobalt Corp. Partial payment was received for the related travel costs.

Disclosures are available here.

( Companies Mentioned: FCC:TSX.V; FTSSF:OTCQX; FCC:ASX, )


Source: https://www.streetwisereports.com/article/2019/05/27/mou-to-process-glencores-feedstock-positive-step-for-cobalt-firms-refinery.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Humic & Fulvic Liquid Trace Mineral Complex

HerbAnomic’s Humic and Fulvic Liquid Trace Mineral Complex is a revolutionary New Humic and Fulvic Acid Complex designed to support your body at the cellular level. Our product has been thoroughly tested by an ISO/IEC Certified Lab for toxins and Heavy metals as well as for trace mineral content. We KNOW we have NO lead, arsenic, mercury, aluminum etc. in our Formula. This Humic & Fulvic Liquid Trace Mineral complex has high trace levels of naturally occurring Humic and Fulvic Acids as well as high trace levels of Zinc, Iron, Magnesium, Molybdenum, Potassium and more. There is a wide range of up to 70 trace minerals which occur naturally in our Complex at varying levels. We Choose to list the 8 substances which occur in higher trace levels on our supplement panel. We don’t claim a high number of minerals as other Humic and Fulvic Supplements do and leave you to guess which elements you’ll be getting. Order Your Humic Fulvic for Your Family by Clicking on this Link , or the Banner Below.



Our Formula is an exceptional value compared to other Humic Fulvic Minerals because...


It’s OXYGENATED

It Always Tests at 9.5+ pH

Preservative and Chemical Free

Allergen Free

Comes From a Pure, Unpolluted, Organic Source

Is an Excellent Source for Trace Minerals

Is From Whole, Prehisoric Plant Based Origin Material With Ionic Minerals and Constituents

Highly Conductive/Full of Extra Electrons

Is a Full Spectrum Complex


Our Humic and Fulvic Liquid Trace Mineral Complex has Minerals, Amino Acids, Poly Electrolytes, Phytochemicals, Polyphenols, Bioflavonoids and Trace Vitamins included with the Humic and Fulvic Acid. Our Source material is high in these constituents, where other manufacturers use inferior materials.


Try Our Humic and Fulvic Liquid Trace Mineral Complex today. Order Yours Today by Following This Link.

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.