Phoenix, Arizona--(Newsfile Corp. - December 21, 2020) - The Stock Day Podcast welcomed First Cobalt (OTCQX: FTSSF) ("the Company"), the owner of North America's only permitted cobalt refinery. President and CEO of the Company, Trent Mell, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's current projects. "The flagship focus for us is restarting what will be North America's only cobalt refinery," explained Mell, noting that cobalt is an essential component of batteries.
Jolly then asked about the value of cobalt given the rise in electric vehicles. "We're heading into the start of 2021 with the prices quietly creeping up," said Mell. "It comes at a great time for us, and frankly a great time as North America is about to see a whole flurry of new vehicles hit the market."
Mell then elaborated on the impact of the election. "We have never seen a president enter the White House with such an aggressive green agenda," said Mell, adding that the agenda will further incentivize the use of electric vehicles and increase charging stations locations, while also creating new careers in the green energy field. "If you provide the credits and provide the incentives on the other side for manufacturers to do the switch, it has a tremendous impact."
"Why is cobalt so important to the EV industry?" asked Jolly. Mell explained that cobalt is an important factor in the development of electric vehicles because it helps provide a higher range of miles. "Nickel is what gives you that energy density, but if you're going to add nickel, you have to add cobalt," said Mell. "Cobalt keeps the battery happy; it keeps the temperature down," he continued, adding that cobalt also improves battery life. "It is essential," said Mell. "Despite what people may think, it's not coming out of the battery any time soon."
Jolly then commented on the Company's Iron Creek cobalt project in Idaho. "I think it has a really good future in the world of cobalt as the price starts to recover," shared Mell, adding that the Company intends to resume drilling at this site in the near future. "We just have to keep growing the resource; it's a beautiful deposit."
"When do you think that revenues will fall on the balance sheet?" asked Jolly. "We are at a point now where we are hopefully days, but certainly weeks away, from announcing some partnerships," shared Mell. "We need to raise $60 million US in financing, so you're gonna see the first glimpse of that before the calendar year," said Mell. "By next summer, we're in construction," he added. "From the time we get our financing, it's just 18 months away from production. So, our plan would be to commission starting the second half of 2022, and we would have the only supply of cobalt for electric vehicles in America, and frankly Europe as well, at a time when the EV market is expected to really start booming."
“Why should people buy your company now?”, asked Jolly. Mell elaborated on the increasing value of cobalt paired with the Company’s impressive margins. “We’re showing an annual margin of about $35 million US per year.”
"I see a lot of opportunity," shared Mell. "We needed the partnerships. People will see feed coming out of two of the best mining operations in the world; we're going to be financed by really big institutions," said Mell, adding that the Company will begin focusing on contracts in the EV industry throughout 2021.
To hear Trent Mell's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7755552-first-cobalt-discusses-the-potential-of-cobalt-for-the-growing-ev-industry-with-the-stock-day-pod
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About First Cobalt
First Cobalt owns North America's only permitted cobalt refinery. Cobalt refining is a critical component to the development and manufacturing of batteries for electric vehicles and forms a foundational piece of the next generation of the North American auto sector and other electrified consumer and industrial applications. First Cobalt owns the Iron Creek cobalt project in Idaho, USA and controls significant silver and cobalt assets in the Canadian Cobalt Camp, including more than 50 past producing mines.
On behalf of First Cobalt Corp.
Trent Mell
President & Chief Executive Officer
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 www.sedar.com. 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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