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FCC - First Cobalt Corp.

Discussion in 'Stocks 0-H' started by greggles, Jul 11, 2018.

  1. greggles

    greggles I'll be back!

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    I just noticed there wasn't a thread on First Cobalt Corp. (FCC).

    It's been a shocker of a 2018 for FCC. After climbing to $1.50 a few days after the new year, it has been all downhill since. It bottomed out at 41.5c yesterday.

    However, today the company announced that drilling in the Canadian Cobalt Camp has identified a second cobalt mineralisation trend within the Kerr area near surface extending over a 500-metre strike length. This mineralised trend is located parallel to and 400 metres north of the previously identified Kerr #2 Zone, which has been traced over 350 metres to date.

    Results from the first six of fifteen holes drilled include 6.5m of 0.33% Co and 133 g/t Ag and 10.7m of 0.14% Co and 13.9 g/t Ag, including 6.9m of 0.21% Co and 12.5g/t Ag. Longer intervals include 26.7m of 0.05% Co and 13 g/t Ag within 40m of 0.04% Co and 9 g/t Ag.

    The results from the other nine holes are pending.

    screenshot-www.aspecthuntley.com.au-2018.07.11-17-35-32.png

    Today's news gave the FCC share price a lift and it finished the day up 14.46% at 47.5c, just half a cent of its high of the day.

    big.chart-FCC.gif
     
    barney likes this.
  2. barney

    barney

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    Thanks for the heads up Greg ….. Had a quick read ….

    They raised a lot of capital a while back at much higher prices so they have both a lot of cash in the bank (around $25 million if I'm reading right:cool:) …. and I expect some unhappy investors who paid a lot more for their shares than they are currently worth:mad: ….

    They have been buying up big taking over various other Cobalt plays plus they have a refinery which may be re-commissioned if the cost is reasonable (currently being assessed)

    Management look proactive but my only concern is they may be spending too fast ….. It does have a lot of pluses if they can get some early cashflow which is a possibility …… definitely on the Watchlist.
     
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