eCobalt’s Farquharson on the rising cobalt market star
March 13, 2018 — “The compound annual growth rate of cobalt is 11% projected over the next 10 years. It is all being driven by the electric vehicles and lithium-ion batteries. The space is just completely evolving here with all of the major manufacturers, auto manufacturers, wanting to get into the space.” states Paul Farquharson, President, CEO and Director of eCobalt Solutions Inc. (TSX: ECS | OTCQX: ECSIF) in an interview with InvestorIntel’s Andy Gaudry.
Andy Gaudry: Thank you very much for coming. We are at PDAC. We want to get right to it. We want to talk about that bought deal you just announced on your latest release.
Paul Farquharson: Absolutely. Just last week we closed a $30 million dollar financing lead by TD with BMO Capital and Canaccord participating in the financing. That money is just going to ensure that we can look after all of our pre-construction in the spring of this year leading into full production.
Andy Gaudry: Wonderful. For that full production, when will that occur?
Paul Farquharson: Following the same timeline, we have an optimized feasibility study coming out in Quarter 2. The Quarter 2 feasibility study will actually be the production decision that we will make. If we can stick to that timeline with the money we have in the bank today that will give us a going underground critical path probably Quarter 3 2018. We can be in production 12 to 14 months after that.
Andy Gaudry: Cobalt has had a good run this year.
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Paul Farquharson: Absolutely. Cobalt is trading $38 a pound. The compound annual growth rate of cobalt is 11% projected over the next 10 years. It is all being driven by the electric vehicles and lithium-ion batteries. The space is just completely evolving here with all of the major manufacturers, auto manufacturers, wanting to get into the space.
Andy Gaudry: What do we expect from eCobalt for shareholders in the next quarter or two?
Paul Farquharson: The next quarter or two we will be finalizing our optimized feasibility study……to access the complete interview, click here
Disclaimer: eCobalt Solutions Inc. is an advertorial member of InvestorIntel Corp.
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