Subsequently, on May 11, First Cobalt announced that it more than doubled its land package in Idaho, by acquiring the West Fork Property right to the west of the Iron Creek Property. Although the funding is not high, it shows that the project has the support of the government, which is definitely positive. On April 28, First Cobalt received $600,000 funding for Iron Creek from the US Department of Energy’s Critical Materials Institute. They were mostly related to the Idaho Iron Creek project. Since my last article, back in early April, several positive developments have occurred. And although the cobalt price is back at its 2021 highs and it trades for $23.8/lb, First Cobalt's share price is in a downtrend, going to re-test the late January lows soon. However, in Q2, the attention switched to the Idaho Iron Creek project. It completed a five-year offtake agreement, entered into an exclusivity agreement with CIBC Capital Markets regarding a $45 million debt financing for the cobalt refinery expansion, and started investigating the possibility of developing a recycling circuit that would recycle the black-mass material from recycled batteries to produce cobalt, nickel, copper, and possibly also lithium and manganese. Cobalt in inorganic form is also a micronutrient for bacteria, algae, and fungi.During the winter months, First Cobalt (FTSSF) focused especially on the Ontario refinery. vitamin B12, the best-known example of the type, is an essential vitamin for all animals.
Cobalt-60 is a commercially important radioisotope, used as a radioactive tracer and for the production of high energy gamma rays.Ĭobalt is the active center of a group of coenzymes called cobalamins. Cobalt occurs naturally as only one stable isotope, cobalt-59. The compounds cobalt silicate and cobalt(II) aluminate (CoAl2O4, cobalt blue) give a distinctive deep blue color to glass, ceramics, inks, paints and varnishes. The DRC alone accounted for more than 50% of world production in 2016 (123,000 tonnes), according to Natural Resources Canada.Cobalt is primarily used in the manufacture of magnetic, wear-resistant and high-strength alloys.
The copper belt in the Democratic Republic of the Congo (DRC) and Zambia yields most of the global cobalt production. The element is however more usually produced as a by-product of copper and nickel mining. Today, some cobalt is produced specifically from one of a number of metallic-lustered ores, such as for example cobaltite (CoAsS). In 1735, such ores were found to be reducible to a new metal (the first discovered since ancient times), and this was ultimately named for the kobold. Miners had long used the name kobold ore (German for goblin ore) for some of the blue-pigment producing minerals they were so named because they were poor in known metals, and gave poisonous arsenic-containing fumes when smelted.
#FIRST COBALT STOCK FREE#
The free element, produced by reductive smelting, is a hard, lustrous, silver-gray metal.Ĭobalt-based blue pigments (cobalt blue) have been used since ancient times for jewelry and paints, and to impart a distinctive blue tint to glass, but the color was later thought by alchemists to be due to the known metal bismuth. Like nickel, cobalt is found in the Earth's crust only in chemically combined form, save for small deposits found in alloys of natural meteoric iron.
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