Part of the Stock Digest group of websites: Visit Tech Stock Digest  

First Cobalt eyes restart of Canadian refinery

PERTH (miningweekly.com) – Dual-listed First Cobalt has undertaken three independent studies to assess restarting its refinery in Ontario, Canada.

The First Cobalt refinery was commissioned in 1996, and has a nominal throughput capacity of between 12 t/d and 24 t/d.

First Cobalt has weighed options to restart the facility at 12 t/d, using the existing single autoclave, at 24 t/d, using a second autoclave that was previously installed but never fully commissioned, and an expansion scenario of 50 t/d, which would represent a nearly complete replacement of all processing equipment within the footprint of the current building structure.

On the base-case scenario of restarting the refinery at a 24 t/d throughput, the independent studies estimated a total project cost of $25.7-million, compared with the $105.3-million that would be required for the expanded production case.

The capital cost estimates included contingencies of 30%.

Replacement costs or new build costs would range between $84.3-million and $142.6-million, First Cobalt said on Thursday, depending on the throughput capacity.

“The First Cobalt refinery is a strategic North American asset and potentially our quickest path to cash flow by producing cobalt materials for the North American market,” said First Cobalt president and CEO Trent Mell.

Click here to continue reading...

Subscribe to the RSD email list and get the latest resource stock activity directly to your inbox, for free.

MARKET SUMMARY

INDICES

Name Last Change
DOW 25444.30 0.26%
S&P 500 2767.78 0.04%
NASDAQ 7449.03 0.48%
TSX 15470.10 0.43%
TSX-V 682.16 0.00%

Resource Commodities

Name Last Change
Gold 1223.42 0.29%
Silver 14.63 0.00
Copper 2.77 0.000
Platinum 834.30 0.02%
Oil 69.12 0.68%
Natural Gas 3.25 1.60%
Uranium 27.68 0.00%
Zinc 1.22 0.00%

@RSDigest ON TWITTER

Part of the Stock Digest family of websites
Small Cap Stock Digest