Canada Cobalt Works’ Basa on processing technology and the real Asian market demand for cobalt
“What we are doing is what we call real time development. We are going for our permits to install a mill on site. Actually we have already sourced the equipment. We are going through the permitting process now. That is the only mill that will be in the cobalt camp. We are also going through a pilot plant scale test work for developing the product that the Asian market has asked us for” States Frank Basa, President, CEO and Director of Canada Cobalt Works Inc. (TSXV: CCW | OTCQB: CCWOF), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.
Tracy Weslosky: Frank, I am really excited to have you here today. We would love to get an update on Canada Cobalt, which I understand is the most advanced cobalt play in Canada. Is that correct?
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Frank Basa: Yes. I think not just in Canada, but I think globally. What we have done here, originially we started just as an exploration play. Then we went to Asia and we spent a bit of time in Japan, a bit of time in China and we came back and we changed our focus. What we are doing is what we call real time development. We are going for our permits to install a mill on site. Actually we have already sourced the equipment. We are going through the permitting process now. That is the only mill that will be in the cobalt camp. We are also going through a pilot plant scale test work for developing the product that the Asian market has asked us, which is basically a cobalt-sulfate originally, now they are asking for a nickel-sulphate, a manganese sulphate and a copper-sulphate. We are also carrying one exploration program. We actually did one step further. We actually went underground. Nobody else is underground, that I am aware of anywhere. We are the only ones that are actually drilling underground. We are actually taking bulk samples, doing a mine development right now underground, permitting for a mill, to install a mill, the only one in the cobalt camp. We are also all over the world listening to everybody what they want as an end product. In other words, we are not producing cobalt. We do have a process and we are using SGS to show the world we can produce cobalt sulphate.
Tracy Weslosky: I am going to step back. For those of you who may be familiar with Canada Cobalt Works, which you just recently got your OTC listing as well.
Frank Basa: Yes we did.
Tracy Weslosky: You are positioned to become a vertically integrated North American leader in cobalt extraction and recovery. I noticed, speaking of real time, you have a lot of news releases coming out. I am going to have you just back up and explain your competitive advantage of where you are actually located and give us an overview please.
Frank Basa: See the cobalt camp itself is actually quite large. It is about 180 kilometers in diameter, at one time had over 108 mines operating. We know the camp quite well. I used to work for Agnico Eagle Mines in the camp. At that time we did mine the cobalt veins. We only took the silver out; we threw the cobalt away. At that time we decided, the company decided, let us see if we recover the cobalt, which we did develop a process at that time. It took us 6 years to develop it. At that time that it was made we were targeting actually the cattle industry. The cattle industry apparently needs cobalt carbonate. At that time the market was cobalt carbonate and the cattle needed it as part of their feed. Time went forward, silver market crashed. The mines got shutdown. Management changed at Agnico and Agnico, of course, divested out of certain assets and we picked up the two best assets that Agnico had. Then we also started a very simple program…to access the complete interview, click here
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Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>