COBALT
TSX-listed multi-element project developer Fortune Minerals has appointed PricewaterhouseCoopers Corporate Finance (PwCCF) to help secure the C$589-million-plus working capital required to build its flagship Nico cobalt/gold/bismuth/copper project, in Canada’s Northwest Territories. “As a new Canadian source of cobalt, Nico mitigates some concerns over geographic concentration of supply in politically unstable countries and ethical procurement of raw materials with supply chain transparency. With cobalt metal trading above $16/lb and trending higher toward longer-term averages, it is an opportune time to secure the project financing needed for construction,” Fortune president and CEO Robin Goad stated.
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