eCobalt Solutions Inc. has provided an update on its feasibility study (FS) and recently initiated pre-construction activities on its 100% owned Idaho Cobalt Project (ICP) in anticipation of final FS receipt expected later in September.
The ICP is the only near-term, environmentally permitted and primary cobalt project located in the US. In 2016, eCobalt commissioned the FS with Micon International Ltd and SNC-Lavalin.
Paul Farquharson, President & CEO of eCobalt commented: “We are encouraged by the recent progress and preliminary results of the Feasibility Study. As we anticipate results to be filed in September, we are fast tracking key pre-construction activities at the mine site this fall in preparation for the expected recommencement of construction in 2018 after project financing is completed”.
He continued, “The recent addition of Floyd Varley, COO, and LLee Chapman, VP Administration has proven instrumental in the advancement of the Idaho Cobalt Project towards these pivotal goals.”
The FS study is in its final stage with mine design and schedule and cobalt production facility (CPF) design completed. Since the company’s last FS update, small mine development (SMD) has provided cost inputs for the final optimised mine schedule, which was delivered to Micon for mine and mill CAPEX estimation. SMD, headquartered in Boise, Idaho, has a solid reputation for providing safe, productive and innovative underground, hard rock mining solutions.
A draft CAPEX summary is expected early in September for client review. This draft summary is expected to allow the company to rapidly update economic iterations using varying input parameters to determine optimal cash flows and revenue timing. The completed financial and reserve analysis, along with supporting reports, are expected to be completed for release in September.
In anticipation of the receipt of the final FS, the company has initiated pre-construction activities at the ICP mine site. These select tasks are designed to minimise cash expenditures and timelines to recommence construction activities in 2018. These tasks are currently being reviewed by the Forest Service and other stakeholders for input and approval.
After a positive review of the geotechnical drilling results from the Blackfoot industrial property located in southern Idaho, the purchase of the property was completed last week. This has allowed the company to initiate the permitting of the site for construction and operation and further assess and finalize engineering requirements. The Blackfoot property was chosen for its excellent infrastructure including low cost electrical grid power, paved road, adjacent rail, potable water, and access to the local municipal water treatment plant. In addition, Blackfoot is located along Highway 15 between Pocatello and Idaho Falls giving the company access to a large pool of skilled labour.
Read the article online at: https://www.globalminingreview.com/exploration-development/14082017/pre-construction-activities-commence-at-the-idaho-cobalt-project/