Transparency Market Research indicates that the global base metal mining market projected to reach 160.19 MMT by 2023, which is a CAGR of 5.01% from 2015 to 2023. Major mining metals include lead, copper, zinc, cobalt, and aluminum. Gold, platinum, palladium, and silver are among the precious mining metals. While gold prices are influenced by macroeconomic developments and market uncertainties, demand for other metals, like cobalt, often depends on innovation. Lithium cobalt oxide based batteries for example provide high energy density, higher than other lithium batteries, and therefore are expected to increase in demand. A report by MarketsandMarkets (published by ReportLinker) indicates "that lithium cobalt oxide batteries type is expected to hold a major share of the market by 2022."
Secova Metals Corp. (OTC: SEKZF) (TSX-V: SEK) earlier today just announced that it, "has acquired 1095252 B.C. Ltd., a private B.C. company whose sole asset is the Cobalt Bay property that consists of 36 claims or approximately 1,996 contiguous hectares in Daine township, Quebec.
The Cobalt Bay project is located 102 km north of Secova's Eagle River Project in the Windfall Lake area of Quebec and 209 km north northeast of its Duvay/Chenier project near Amos making this project easily accessible year-round from the Company's existing projects. Historic work on the property has shown that past results have been very promising, including drilling results from 1957 when the New Jersey Zinc Company returned 0.068% cobalt over 4.5 meters, including 1.5 meters of 0.17% cobalt. Secova will use its expertise in the area to develop a systematic exploration plan to determine the extent of the potential cobalt mineralization.
"The Cobalt Bay property is an opportunistic and strategic investment that is consistent with management's goals of enhancing the value of the company for our shareholders," stated Brad Kitchen, C.E.O. and Chairman of Secova Metals Corp. "The Company will use its expertise in assessing historic projects and developing an exploration plan that can effectively and efficiently define a potential resource. There is a huge demand for cobalt and the supply chain dynamics of sourcing non-conflict supply is growing rapidly fuelled by the expected surge in the production of electric vehicles. Value creation for our shareholders is our goal and we will be driving towards potentially discovering an economically minable deposit be it in gold at Duvay/Chenier & Eagle River or cobalt at the Cobalt Bay property."
The acquisition is an arms-length transaction in which the Company will issue 6.0 million common shares by way of a share exchange agreement. In connection with the transaction, the Company will issue a cash finder's fee of $52,500 payable to Anglosphere International Enterprises Limited. The issuance of the acquisition and the finder's fee of common shares are subject to TSX Venture Exchange approval.
GoldMining Inc. (OTCQX: GLDLF) is acquiring and developing projects in Brazil, Colombia, the United States, Canada and other regions of the Americas. The company is advancing its São Jorge Gold Project in northern Brazil, its Titiribi Gold-Copper Project in western Colombia, its Whistler Gold-Copper Project in southern Alaska, and its Rea Uranium Project in the western Athabasca Basin in northeast Alberta, Canada. The Company owns six projects that contain significant gold and copper resources that are detailed in NI 43-101 technical reports, which are available under the Company's profile on SEDAR.
BonTerra Resources Inc. (OTC: BONXF) is a Canadian gold exploration company based in Vancouver, BC focused on continuing to expand its NI 43-101 compliant gold resource on its West Arena Property, part of the world famous Abitibi Greenstone Belt in mining-friendly Quebec. The company recently announced that it has entered into an amended agreement with Sprott Capital Partners, a division of Sprott Private Wealth LP to act as lead underwriter and INFOR Financial Inc. and has agreed to increase the offering size of purchased securities from $12,902,400 to $13,974,800 in gross proceeds.
Cruz Capital Corp. (OTC: BKTPF) an exploration stage company, engages in the acquisition, exploration, and evaluation of mineral properties. The company explores for cobalt properties. It holds interests in projects located in North America, including projects in Canada and one project in Idaho, the United States. On Feb 7 2017, the company reported it is now fully DTC eligible on the USA markets. Being fully DTC eligible will now enable USA brokerage firms to clear Cruz shares in their home market not via the Canadian market therefore creating a much more transparent and easily accessible trading situation for the USA market.
Ecobalt Solutions Inc. (OTCQB: ECSIF) committed to providing a unique opportunity for consumers to acquire an ethically sourced, environmentally sound, transparent supply of battery grade cobalt salts, essential for the rapidly growing rechargeable battery and renewable energy sectors, produced safely and responsibly in the United States. "As we move the ICP through Feasibility Study and ultimately into production, the flexibility provided by the Shelf Prospectus will provide the Company access to the capital required to increase value for all our shareholders", commented in the company's latest news release by Paul Farquharson, President & CEO of eCobalt Solutions Inc.
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