Data Predicts Demand for Cobalt Will Grow Alongside Electric Vehicles' Popularity

NEW YORK, November 8, 2017 /PRNewswire/ --

A research by Markets and Markets estimates that the lithium-ion battery market is expected to be valued USD 68.97Billion by 2022, or growing at a CAGR of 16.6% between 2016 and 2022. The market for lithium nickel manganese cobalt battery type is expected to grow at the highest rate between 2016 and 2022. Reuters reported that by 2020, 75 percent of lithium-ion batteries will contain cobalt, whose properties allow electric cars to extend their range between charges, according to eCobalt Solutions. The growth of this market is highly impacted by the increase in demand for electric vehicles, strict government mandates on fuel economy, growing demand for smart devices, and other consumer electronics. LiCo Energy Metals Inc (OTC: WCTXF), eCobalt Solutions, Inc. (OTC: ECSIF), Katanga Mining Limited (OTC: KATFF), Lundin Mining Corp. (OTC: LUNMF), Panasonic Corporation (OTC: PCRFY)

According to a report by S&P Global Platts and panelists speaking at this year's Indaba mining conference, battery demand will continue to drive the lithium and cobalt markets for years to come. "Long-term strong battery demand is very real," said Edward Lauer, the head of portfolio optimization at Eurasian Resources Group according to S&P. "Even if demand from commercial and residential battery storage doesn't materialize to the same extent, consumer electronics and electric vehicle industries will only continue to grow."

LiCo Energy Metals Inc (OTCQB: WCTXF) is also listed on the TSX Venture Exchange under the ticker 'LIC'. Announced breaking news this morning that, "the assay results for the first five diamond drill holes (GB17-01 to GB17-05) from the on-going drill program on the Glencore Bucke Property located 6km northeast of Cobalt, Ontario.

"We are exceptionally pleased with the grade and the widths of the cobalt mineralization that has been intersected", says Tim Fernback, President & CEO of LiCo and "the drill program has been successful as cobalt mineralization has been intersected in every hole".

The most significant results are as follows:

- GB17-01  0.31% Co over 3.0 m from 18.0 to 21 .0 m, incl. 0.71 % Co over 1.13 m

- GB17-04  1.6% Co over 0.5 m from 16.25 to 16.75 m, incl. 3,11% Co, 0.17% Cu, 0.69% Zn over 0.25 m

- GB17-03  0.27% Co over 1.75 m from 27.15 to 28.9 m, incl. 0.44% Co over 0.75 m

- GB17-03  0.39% Co over 0.25 m from 31.25 to 31.5 m

- GB17-02  0.42% Co,0.2% Cu,2.2% Pb over 0.3 m from 39.37 to 39.67 m

- GB17-03  1.02% Cu, 294 ppm, Co, 12 ppm Ag, 204 ppm Zn, 689 ppm Pb over 2.5 m

The results for the first five holes are summarized in Table 1 below. To date, a total of 19 diamond drill holes totaling 1,565 m have been completed on the Glencore Bucke Property, testing the Northwest and Main Zones. The drilling has confirmed and extended the cobalt mineralization on the property and which are consistent with historical grades and widths in the overall Cobalt Camp. The second drill testing the Teledyne property has completed 4 holes for 804 metres to date. The drill program is designed to provide the company with sufficient drill hole information to create a geological model and a 43-101 complaint resource estimate.

"It is significant that the drilling has confirmed the historical cobalt style mineralization in both grade and widths which was historically mined by other companies within the Cobalt Camp" commented Dwayne Melrose, Technical Advisor for LiCo. "As the cobalt and associated (copper, silver, lead and zinc) mineralization that was intersected is close to surface, this could potentially make the property attractive for a future toll milling scenario" …"

eCobalt Solutions, Inc. (OTCQB: ECSIF) commits to providing ethically produced, environmentally sound, battery grade cobalt salts, essential for the rapidly growing rechargeable battery and renewable energy sectors, made safely, responsibly, and transparently in the United States. The company's primary asset, the 100% owned Idaho Cobalt Project, remains the only advanced stage, near term, environmentally permitted, primary cobalt deposit in the United States. The ICP is comprised of the Mine/Mill (M/M) site located in Lemhi County, Idaho, near the town of Salmon, Idaho and the Cobalt Production Facility (CPF), a stand-alone hydrometallurgical facility will be located in Southern Idaho near the city of Blackfoot. The CPF will process concentrates from the M/M into cobalt, copper and gold end products. The project is slated to produce the equivalent of 1,500 tons of high purity cobalt sulfate annually over a projected mine life of 12.5 years.

Katanga Mining Limited (OTC: KATFF) operates a large-scale copper-cobalt project with substantial high-grade mineral reserves and integrated metallurgical operations in the Democratic Republic of Congo (DRC). All assets and operations of Katanga Mining Limited are located in the Katanga Province of the Democratic Republic of Congo (DRC). It is a vast country with immense economic resources, including an estimated 10% of the world's copper and 50% of its cobalt. Katanga Mining Limited operates a large-scale copper-cobalt mine complex in the Democratic Republic of Congo (DRC) through two joint ventures, Kamoto Copper Company (KCC) and DRC Copper and Cobalt Project (DCP). KCC and DCP are engaged in the exploration, refurbishment and rehabilitation of the Kamoto/Dima mining complex and the KOV copper and cobalt mine, respectively in the DRC.

Lundin Mining Corp. (OTC: LUNMF) is a diversified Canadian base metals mining company with operations in Chile, the United States of America, Portugal, and Sweden, primarily producing copper, nickel and zinc. In addition, Lundin Mining holds an indirect 24 percent equity stake in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland. During 2013, Lundin Mining acquired, through a newly formed joint venture entity with Freeport, a large scale cobalt chemical refinery located in Kokkola, Finland and the related sales and marketing business. The acquisition provided direct end-market access for the cobalt hydroxide production from the Tenke Fungurume mine among other advantages. Lundin Mining holds an effective 24% ownership interest in the joint venture, with Freeport holding an effective 56% ownership interest and acting as operator of the joint venture and Gécamines holding a 20% interest.

Panasonic Corporation (OTC: PCRFY) is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, enterprise solutions and device industries. Earlier this year, the company announced that it held an opening ceremony for a new automotive lithium-ion battery factory in Dalian, China. Panasonic has provided automotive lithium-ion batteries to a number of auto manufacturers on a global basis and is leading the automotive battery market. Furthermore, in response to further increase in the demand of high-performance automotive lithium-ion batteries, Panasonic not only increased production at Japanese sites but will also start automotive battery cell production in the United States in 2017.

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