Cruz Cobalt – Cobalt Breaks out to NEW HIGHS 37.88….Article on New Congo Mining Laws
Cobalt has broken out to brand new 10 year highs to $37.88. According to the article released… (KINSHASA Reuters) – Democratic Republic of Congo President Joseph Kabila will soon sign into law a new mining code, the government and the country’s mining companies said on Wednesday. The code has been vigorously opposed by the miners. (full story below)
Cruz currently has nine cobalt projects located throughout North America, comprising of five in Ontario, two in British Columbia, one in Idaho and one in Montana. Cruz’s five separate Ontario cobalt prospects are all located in the vicinity of the town of Cobalt making Cruz one of the largest landholders in this emerging cobalt district. Cruz’s Ontario projects include the 1,265 acre Coleman cobalt prospect, the 900 acre Johnson cobalt prospect, the 4,980 acre Hector cobalt prospect, the 1,580 acre Bucke cobalt prospect and now the 10,556 Lorraine cobalt prospect. The company’s BC prospects include the 15,219 acre War Eagle cobalt prospect and the 11,821 acre Purcell prospect. Cruz’s USA projects include the 1,940 acre Chicken Hawk prospect in Montana and the 880 acre Idaho Star prospect.
Cruz has more cash on hand today than any other point and management expects a very active 2018. Cruz’s company mandate has always been to only associate with non-conflict cobalt assets.
BMO Capital Markets_Lithium-Ion Battery EV Mkt.pdf
Apple In Talks for Cobalt…Story on CNBC.
https://www.cnbc.com/2018/02/
Cobalt Prices are at new 10 Year highs:
Cruz Cobalt Corp. Initiates Drill Permit Process for Idaho Cobalt Prospect
Cruz Cobalt Corp. (CUZ—TSXv, BKTPF—OTCBB, A2DMG8–FSE) is pleased to announce that the company has started the process to apply for the drill permit on its Idaho Star Cobalt Prospect. Cruz has retained Powell PLC to assist in the Plan of Operation for the drilling permit.
On February 14, 2018 Cruz increased its acreage in the Cobalt District of Ontario. The new acreage is contiguous to the “Lorraine Cobalt Prospect” and now consists of 10,556 contiguous acres bordering First Cobalt Corp. (FCC-TSX.v) in the direct vicinity of the town of Cobalt, Ontario now making Cruz one of the single largest landholders in the cobalt region of Ontario.
Cruz President, James Nelson, stated, “We are pleased to accelerate the drilling process in Idaho. Cruz has amassed a stable of North American cobalt prospects in the past few years and we look forward to advancing these in 2018. Cobalt prices continue to show strength and recent reports state that Apple (AAPL-NASDAQ) is looking to secure a direct source of cobalt for the batteries in their products. The supply of ethically mined cobalt outside of the DRC is tight and any new supply would be welcomed by buyers such as all the car companies and cell phone companies. The demand for battery metals appears to be at the start of long term super cycle and Cruz has positioned itself early to take advantage of this boom.”
Recently (January 22, 2018) Cruz increased its acreage on the “Purcell Cobalt Prospect” from 671 acres to 11,821 acres, consolidating the previous two separate Purcell prospects into one much larger contiguous prospect. Also on January 16, 2018 Cruz increased its landholdings surrounding the War Eagle cobalt prospect in BC. Cruz now has a 100% interest in 15,219 acres on the War Eagle cobalt prospect. Cruz also just recently completed an airborne survey over the War Eagle and Purcell cobalt prospects in BC and uncovered strong magnetic anomalies (announced January 19, 2018). Management is now working diligently on advancing these two BC cobalt prospects.
Cruz currently has nine cobalt projects located throughout North America, comprising of five in Ontario, two in British Columbia, one in Idaho and one in Montana. Cruz’s five separate Ontario cobalt prospects are all located in the vicinity of the town of Cobalt making Cruz one of the largest landholders in this emerging cobalt district. Cruz’s Ontario projects include the 1,265 acre Coleman cobalt prospect, the 900 acre Johnson cobalt prospect, the 4,980 acre Hector cobalt prospect, the 1,580 acre Bucke cobalt prospect and now the 10,556 Lorraine cobalt prospect. The company’s BC prospects include the 15,219 acre War Eagle cobalt prospect and the 11,821 acre Purcell prospect. Cruz’s USA projects include the 1,940 acre Chicken Hawk prospect in Montana and the 880 acre Idaho Star prospect.
http://www.investmentpitch.
If you would like to be added to Cruz’s email list please send an email to [email protected] or twitter @CruzCobalt
James Nelson
President
604.899.9150
Toll free 1.855.599.9150
www.cruzcobaltcorp.com
twitter @CruzCobalt
Cruz Cobalt Corp. Significantly Increases Land Holdings in the Cobalt Region of Ontario
Cruz Cobalt Corp. (CUZ—TSXv, BKTPF—OTCBB, A2DMG8–FSE) is pleased to announce that the company has increased its acreage in the Cobalt District of Ontario. The new acreage is contiguous to the “Lorraine Cobalt Prospect” and now consists of 10,556 contiguous acres bordering First Cobalt Corp. (FCC-TSX.v) in the direct vicinity of the town of Cobalt, Ontario.
Cruz President, James Nelson, stated, “We are pleased to further expand our acreage in the historic cobalt camp in Ontario. Cruz is one of the single largest landholders behind First Cobalt Corp (FCC-TSX.v) with 5 separate cobalt prospects in the region. We feel that consolidation of the cobalt camps globally is inevitable and we are positioning Cruz to be a significant participant in the emerging Ontario Cobalt District. We plan to be very active in Ontario in 2018. The price per pound of cobalt has again made a new 10-year high this week, and cobalt has never been more in focus as the world is moving towards full scale electric car adoption. The demand for battery metals appears to be at the start of long term super cycle and Cruz is positioning itself early for this cycle.”
Recently (January 22, 2018) Cruz increased its acreage on the “Purcell Cobalt Prospect” from 671 acres to 11,821 acres, consolidating the previous two separate Purcell prospects into one much larger contiguous prospect. Also on January 16, 2018 Cruz increased its landholdings surrounding the War Eagle cobalt prospect in BC. Cruz now has a 100% interest in 15,219 acres on the War Eagle cobalt prospect. Cruz also just recently completed an airborne survey over the War Eagle and Purcell cobalt prospects in BC and uncovered strong magnetic anomalies (announced January 19, 2018). Management is now working diligently on advancing these two BC cobalt prospects.
Cruz currently has nine cobalt projects located throughout North America, comprising of five in Ontario, two in British Columbia, one in Idaho and one in Montana. Cruz’s five separate Ontario cobalt prospects are all located in the vicinity of the town of Cobalt making Cruz one of the largest landholders in this emerging cobalt district. Cruz’s Ontario projects include the 1,265 acre Coleman cobalt prospect, the 900 acre Johnson cobalt prospect, the 4,980 acre Hector cobalt prospect, the 1,580 acre Bucke cobalt prospect and now the 10,556 Lorraine cobalt prospect. The company’s BC prospects include the 15,219 acre War Eagle cobalt prospect and the 11,821 acre Purcell prospect. Cruz’s USA projects include the 1,940 acre Chicken Hawk prospect in Montana and the 880 acre Idaho Star prospect.
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
If you would like to be added to Cruz’s email list please send an email to [email protected] or twitter @CruzCobalt
James Nelson
President
604.899.9150
Toll free 1.855.599.9150
www.cruzcobaltcorp.com
twitter @Cruz
Below is the historical Lithium price (USD$) per metric tonne
As you can see in the map below, Cruz Cobalt also has exposure to the lithium market through its property that is strategically located in the Clayton Valley of Nevada with access to deepest parts of the only lithium brine basin in production in North America.
Planned Lithium-Ion Battery Megafactories:
China’s cobalt conundrum in Congo
ARTICLES:
KINSHASA (Reuters) – Democratic Republic of Congo President Joseph Kabila will soon sign into law a new mining code, the government and the country’s mining companies said on Wednesday. The code has been vigorously opposed by the miners.
Congo’s Mines Minister Martin Kabwelulu flanked by mining executives operating in Congo addresses a news conference after a meeting President Joseph Kabila (not in the picture) in Kinshasa, Democratic Republic of Congo March 7, 2018. REUTERS/Kenny Katombe
The announcement followed a nearly six-hour meeting between Kabila and mining executives in Kinshasa about the new code, which will raise taxes and remove a stability clause in the current law protecting miners from changes to the fiscal and customs regime for 10 years.
“The president of the republic assured the miners … that their concerns will be taken into account through a constructive dialogue with the government after the promulgation of the new mining law,” a joint statement said.
Glencore, Randgold and China Molybdenum all operate mines in Congo, Africa’s top copper and cobalt producer, and have said the changes in the code adopted by parliament in January would scare off new investment and violate existing agreements. Ivanhoe is developing a mine and upgrading another that is not currently in production.
Mining executives declined to answer questions from reporters after the meeting, with Randgold Chief Executive Mark Bristow saying they had “work to do”.
Ivanhoe and China Moly declined to comment further when reached via email.
Congo’s Mines Minister Martin Kabwelulu addresses a news conference in Kinshasa, Democratic Republic of Congo March 7, 2018. . REUTERS/Kenny Katombe
Mines Minster Martin Kabwelulu told reporters after the meeting that the companies’ concerns would be treated on a “case-by-case basis”.
“After the promulgation of the code, we are going to wait for the mining companies … to send us their concerns,” Kabwelulu said. “We are going to re-examine those concerns, first with (government) experts … and with the mining companies’ experts.”
Participants in Wednesday’s meeting included Bristow, Glencore CEO Ivan Glasenberg, China Molybdenum executive chairman Steele Li and Ivanhoe chairman Robert Friedland.
Randgold, which operates the giant Kibali gold mine in northeastern Congo, said last month that it would challenge the new code through international arbitration if it was not referred back to the mines ministry for further consultation with industry.
The government has disputed the companies’ claims that the new code will make them unprofitable and said the revision is needed to boost meager public revenues in a country with an annual budget of only about $5 billion.
Under one provision in the proposed code, royalties on cobalt, a vital component in electric car batteries, could increase fivefold to 10 percent. The law will also introduce a windfall profits tax.
Congo is the world’s biggest source of cobalt. Its output jumped 15.5 percent last year to 73,940 tonnes.
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