Howdy Slave - been awhile but it seems it could be near, the fundamentals continue to be laid for full mine developement from what I can tell
Appointment
Formation Capital Corporation FCO
Shares issued 13,307,896 Sep 11 close $0.70
Mon 14 Sept 98 News Release
Mr. Robert Metka reports Roland L. Horst has been appointed chairman and CEO of the company and has joined the board of directors of Formation Capital Corp. Formation is going through substantial changes as the company advances its cobalt property in Idaho, from the exploration stage to the development stage and the board determined to further strengthen the management team. Ms. Mari-Ann Green will continue to contribute to the advancement of the company in her
capacity as executive vice-chairman. With the addition of Mr. Horst, the
board of directors is now comprised of Mari-Ann Green, J. Scott Bending,
W.G. (Bill) Scales, Lloyd A. Clark, Lloyd R. Nilsen, James B. Engdahl,
Robert G. Metka and Roland L. Horst.
Mr. Horst is a mining executive with experience as CEO, a mining investment
banker with Nesbitt Thomson Inc. and Richardson Greenshields of Canada
Ltd., a mining lender with the Bank of Montreal, and as a geologist with
Inco Ltd.
Mr. Horst's extensive experience throughout the investment industry,
coupled with the excellent technical team assembled, is expected to
accelerate the development of the company's Sunshine deposit in Lemhi
County, Idaho. A pre-feasibility study completed under the management of
Mine Development Associates of Reno, Nevada is expected shortly. This study
is based on a June 1998 resource audit by MDA which audited and approved
the company's measured, indicated and inferred resource calculation of 3.37
million tons grading 0.503 per cent cobalt, 0.63 per cent copper and 0.015
oz/ton gold using a 0.2 per cent cobalt cut-off.
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