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The Company's flagship property, the Idaho Cobalt Project, is in the feasibility stage of development with a current independently assigned Net Present Value of over $130,000,000 Canadian, with an Internal Rate of Return of 69% at current commodity prices.
The Cobalt Project, currently in the feasibility stage of development, is poised to become the only domestically produced source of cobalt in the USA.
PROJECT PERMITTING: Idaho is a pro-mining state, and must not be confused with Washington and Montana. A new mining permit in the USA is a sensitive issue. However the proposed operation is an underground mine with a small environmental footprint. The mine will be new and has been designed from the start with the local environment in mind. As well, the commodity, cobalt, has numererous applications that are considered environmentally beneficial, such as the production of rechargeable batteries for electric vehicles, and the desulphurization of hydrocarbon fuels.
The Cobalt Project currently hosts a 2.1 million ton (mineable) cobalt-copper-gold reserve/resource established on two zones, the Sunshine Lode and Ram, both of which have significant potential for expansion. Given the simple metallurgy and location of the project proximal to infrastructure, economic modeling of the project generates excellent returns without further expanding the current reserves/resources while discounting the cobalt price below current levels. The potential for the Sunshine property to host deposits totaling 10 million tons grading +0.5% cobalt is considered high. Formation Capital Corporation is poised to become a leading edge cobalt producer.
COBALT is a metal that will has extensive uses now and will continue to do so throughout the 21st century (especially in the burgeoning field of rechargeable batteries).
At it's current price of 0.35 cents a share, this seems like a great time to buy into a company that is poised to become the possible leading Cobalt producer for North America. DEFINITELY one to watch.
As IR for this company, you can do your own due diligence on FormCap by checking our website is yesinternational.com. CHECK IT OUT
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