FCC today agreed a share exchange taking over TSX listed US Cobalt Inc (USCO), valuing it at ~$C150m at current FCC share price.
USCO brings:
Idaho: Iron Creek Cobalt Project in the U.S. with a historic mineral
resource estimate (non-compliant with NI 43-101) of 1.3M tons grading
0.59% cobalt
A fully-funded drilling campaign is underway to further define the resource. USCO also has brine lithium projects in Utah and Alberta.
https://www.bloomberg.com/press-rel...t-announces-friendly-acquisition-of-us-cobalt
US Cobalt slides here:
http://uscobaltinc.com/wp-content/uploads/2018/02/US-Cobalt-Deck-Mar-1-2018.pdf
The transaction will make FCC a ~$C350m business with two key projects currently drilling and a permitted refinery.
The reaction on TSX will tell us much. It opens at midnight AEDST.
Sure is an interesting ride.
Ash
FCC acquires/merges US Cobalt
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