Fortune Minerals produces premium battery-grade cobalt sulphate sample from NICO to support off-take discussions

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[{"type":"text","content":"\n\n\n\nFortune Minerals produces premium battery-grade cobalt sulphate sample from NICO to support off-take discussions\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nFortune Minerals produces premium battery-grade cobalt sulphate sample from NICO to support off-take discussions\nCanada NewsWire\nLONDON, ON, Jan. 8, 2016\n\n\n\nBDO has been appointed as the Company's Auditor to reduce administrative expenditures\n\nIssued Capital: 227,077,580\n\n\n\nLONDON, ON, Jan. 8, 2016 /CNW/ - Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) (\"Fortune\" or the \"Company\") (www.fortuneminerals.com) is pleased to report that SGS Canada Inc. (\"SGS\") has produced a premium high purity cobalt sulphate heptahydrate sample from cobalt sulphate product previously produced for the Company in a pilot plant from concentrates originating from the NICO Gold-Cobalt-Bismuth-Copper deposit ore. This premium grade ultra-pure sample exceeds the chemical specifications for cobalt sulphate heptahydrate received from several large manufacturers of lithium ion batteries. SGS produced the sample to provide product for testing by a potential off-take customer. The sample was also produced to test minor changes to the process flow sheet the Company plans to utilize at its proposed refinery near Saskatoon, Saskatchewan. Fortune continues to advance discussions for off-take agreements for its cobalt product with potential customers to support project financing.\n\nLike our news? Click-to-Tweet.\n\nNICO is a planned vertically integrated project comprised of a mine and concentrator in the Northwest Territories and refinery near Saskatoon where the Company plans to process concentrates from the mine to higher value products including gold, cobalt sulphate, bismuth metals and oxide, and copper. The cobalt market is now approximately 100,000 tonnes per annum and has had a compound average annual growth rate of approximately 6% over the past two decades. Most of this increase in consumption is attributed to the use of cobalt in high performance rechargeable batteri...

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