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First Cobalt Announces Filing of Refinery Study
First Cobalt Announces Filing of Refinery Study Canada NewsWire TORONTO, July 10...
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[{"type":"text","content":"\n\n\n\nFirst Cobalt Announces Filing of Refinery Study\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 10, 2020\n\n\n\nTORONTO, July 10, 2020 /CNW/ - First Cobalt Corp. (the \"Company\") (TSXV: FCC) (OTCQX: FTSSF) is pleased to announce that it has filed the engineering study relating to the recommissioning and expansion of the First Cobalt Refinery (the \"Refinery\") under the Company's profile on SEDAR at www.sedar.com and its website at www.firstcobalt.com. \nThe engineering study was prepared by Ausenco Engineering Canada under the definitions of an Association for the Advancement of Cost Engineering (AACE) Class 3 Feasibility Study. The results were previously disclosed in the Company's press release dated May 4, 2020. The report includes additional details related to the underlying assumptions used in the engineering study.\nThe report was prepared to summarize the results of an engineering study prepared at a feasibility level related to the Refinery. As a result of a review by staff of the Ontario Securities Commission, the Company confirms that the report does not constitute a feasibility study within the definition employed by the Canadian Institute of Mining, Metallurgy and Petroleum (\"CIM\"), as it relates to a standalone industrial project and does not concern a mineral project of First Cobalt. As a result, disclosure standards prescribed by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (\"NI 43-101\") are not applicable to the scientific and technical disclosure in the report. Any references to scoping study, prefeasibility study or feasibility study by First Cobalt, in relation to the Refinery, are not the same as terms defined by the CIM Definition Standards and used in NI 43-101.\nTrent Mell, First Cobalt President & CEO, commented:\n\"The global pandemic has drawn attention to the risk of concentrated supply chains. With most of the world's refined cobalt produced in China, we are seeing heightened interest in a refinery that is closer t...