First Cobalt, CobalTech ratify deal to create world’s largest cobalt-focused explorer

On the same day that cobalt posted the highest-ever recorded price at $60 250/t – up some 127% since the start of 2017 – explorer First Cobalt (FCC) on Monday executed a definitive merger agreement with fellow TSX-V-listed CobalTech Mining. The transaction, in combination with its separate acquisition of ASX-listed Cobalt One, will consolidate the Cobalt, Ontario mining camp under FCC and give the company control of about 10 000 ha for cobalt exploration and mining.