STTCOMP CZN, FA Long
SOI: 813M (+ 20M options ex price 1.5c)
MC: $13.3M @ 1.6c
Cash: $2M
Corazon Mining Ltd is a mineral exploration company with projects in Canada and Australia. Their flagship project is the Lynn Lake Nickel-Copper-Cobalt Project in Canada. They acquired the Mt. Gilmore Cobalt-Copper-Gold Project mid 2016.
They are currently drilling at the Lynn Lake Project which is ongoing and expected to conclude around mid to late February 2017. They plan to undertake 1500 metres of core drilling over its highest priority geophysical anomalies within the Fraser Lake Complex (FLC). The FLC is located just 5km south of the historic Lynn Lake Nickel-Copper-Cobalt mining centre. Source: Ann 25/1
Source: Ann 23/1
CZN are spending $600k this quarter which includes $500k on exploration and evaluation so probably no threat of a capital raise just yet. Source: Qtrly cashflow Ann 25/01
Importance of Cobalt
Cobalt is a metal of growing strategic importance due to its requirement for use in lithium-ion batteries and the emerging rechargeable battery sector. At current cobalt metal prices of around US$30,000 per tonne, the grades intersected in the drilling at Cobalt Ridge represent potentially significant in-ground value for both the broad zones and discreet high grade zones of cobalt mineralisation. Historic mining for cobalt, copper, gold and silver within the project area supports the opportunity for the metallurgical extraction of these metals. Metallurgical performance test work on RC drill chips is currently underway, with results expected Q1, 2017. Source: Ann 16/1
http://www.abc.net.au/news/2017-01-...ised-for-slice-of-battery-storage-pie/8187296
http://www.copyright link/markets/c...ilewski-is-stockpiling-cobalt-20170129-gu12l4
Cobalt price - 5 years
Cobalt price - 1 year
