Growing EV Presence is Driving the Cobalt Market Forward

NEW YORK, June 21, 2018 /PRNewswire/ --

Research published by MarketsandMarkets projects the lithium-ion battery market to be valued USD 68.97 Billion by 2022, and to be growing at a CAGR of 16.6% between 2016 and 2022. The segment of the lithium-nickel-manganese-cobalt battery type is expected to grow at the highest rate over the forecast period. Reuters reported that, by 2020, 75% of lithium-ion batteries will contain cobalt, whose properties allow electric cars to extend their range between charges, according to eCobalt Solutions. The increasing demand for rechargeable lithium-ion battery technology is a result of electric vehicles becoming cheaper and more popular, as well as the prevalence of smart devices and other consumer electronics, combining with the strict government mandates on fuel economy. Pacific Rim Cobalt Corp. (OTC: PCRCF), Trilogy Metals Inc. (NYSE: TMQ), Fortune Minerals Limited (OTC: FTMDF), QMC Quantum Minerals Corp. (OTC: QMCQF), Nemaska Lithium, Inc. (OTC: NMKEF)

As more and more countries advocate for eco-friendly vehicles, lithium-ion battery demand increases, but so does the demand for the components used within it. An essential component of the LIB market is the chemical element of cobalt. Like nickel, cobalt is found in the Earth's crust only in a chemically combined form. According to Benchmark Mineral Intelligence, 75% of lithium-ion battery cathode capacities are expected to contain some volume of cobalt by 2020. According to Bloomberg, the price of the metal has risen 86% this year, to USD 61,000 a metric ton on the London Metal Exchange.

Pacific Rim Cobalt Corp. (OTCQB: PCRCF) is also listed on the Canadian Securities Exchange as (CSE: BOLT). Earlier today, the company announced that, "it has officially opened a business development office in Shanghai.

The Company recently visited and met with several industry colleagues representing a variety of battery sector and resource industry interests in China. The strategic information gained from the visit was extraordinary and ultimately led to the decision to provide a more meaningful ongoing presence in the region. As a result, Pacific Rim Cobalt has added Mr. James Foster as an Advisor at its newly opened, centrally located offices in the Jing'an commercial district of Shanghai."

Mr. Ranjeet Sundher, CEO of Pacific Rim, comments, "During our recent visit to China, the feedback we encountered was fantastic. China is aggressively leading the world in the battery sector and is equally forceful in its determination to build a robust supply chain network to bolster their significant investments in the space. We are looking to secure a Chinese partner, and this trip was the beginning of that process. Our meetings included some very informative sessions which highlighted our proximity to the Chinese marketplace, and several of the companies provided cobalt resource demand projections which crystalized our sense that the time is right to position a full-time business presence in the region. To that end, we welcome James as the Company's in-country advisor and expect we will be regularly visiting this growing territory."

James Foster notes, "China has been actively involved within the Indonesian resource market for some time. Industrial leaders here have argued that there has been a growing sense of over-reliance on Africa for some time now. This discussion has even been noted in recent western articles on the topic. Plus, the country is poised for the 2019 launch of the New Electric Vehicle (NEV) mandate which bears a striking resemblance to California's Zero Emission Vehicle (ZEV) mandate and could significantly boost EV production demand. Subsequently, Chinese industry has been highly active in their pursuit of cobalt and have engaged in a number of pre-production offtake agreements. Lastly, there's been a lot of investor demand in China as demonstrated when the country's largest lithium battery maker, Contemporary Amperex Technology Ltd. raised approximately USD 850 Million and soared 44% on IPO. Retail investors actually applied for 3,201 times the shares they were offered, and fund managers bid for 537 times the shares available. According to IFR, a Thomson Reuters publication. It's an exciting and busy time to be involved in the cobalt space and I'm delighted to have this opportunity with Pacific Rim."  

Trilogy Metals Inc. (NYSE: TMQ) is a metal exploration and development company focused on exploring and developing the Ambler mining district located in northwestern Alaska. The Company recently announced the release of a maiden cobalt resource of 77 Million pounds of inferred resources for the Bornite Project. The resource estimate utilized assay data from drill holes completed by the Company between 2011 and 2013 and re-sampled historic holes Kennecott drilled in the 1960s and 1970s. Results from the Company's on-going metallurgical studies indicate that cobalt occurs predominantly as cobaltiferous pyrite which preferentially reports to the copper tailings. The 77 Million pounds of contained cobalt in inferred resources at Bornite is one of the largest cobalt resources in North America. Rick Van Nieuwenhuyse, President and CEO of Trilogy Metals commented, "We are very pleased to report an initial 77-Million-pound cobalt resource for our Bornite Project. The metallurgical test work completed to date indicates that ~80% to 90% of the cobalt reports to the copper tails as cobaltiferous pyrite."

Fortune Minerals Limited (OTCQX: FTMDF) is a Canadian mining company focused on developing the vertically integrated NICO cobalt-gold-bismuth-copper project in the Northwest Territories and a related refinery the Company plans to construct in Saskatchewan. The Company recently announced information on its 100% owned NICO Cobalt-Gold-Bismuth-Copper Project in Canada. The NICO Project is a development stage primary cobalt asset currently consisting of a planned mine, mill and concentrator in the Northwest Territories as well as a hydrometallurgical refinery in Saskatchewan to process concentrates from the mine to cobalt sulfate, gold, bismuth ingot and oxide, and copper precipitate. Fortune was recently approached by several global mining and refining companies interested in purchasing metal concentrates directly from the mine. If this is pursued, it would enable the Company to defer the Saskatchewan refinery, reducing up-front capital by about 50% and mitigating risks in commissioning and downstream processing. The Company is pleased to report that it has recently been contacted by several companies interested in purchasing metal concentrates directly from the NICO mine for treatment in their existing process facilities.

QMC Quantum Minerals Corp. (OTC: QMCQF) is a British-Columbia based company engaged in the business of acquisition, exploration and development of resource properties. QMC Quantum Minerals Corp. recently announced that it has signed a non-disclosure agreement with an Asian-based manufacturing company which will allow them to test the Company's lithium mineralization, identified by recent channel sampling of the Irgon Pegmatite Dike, to see if it meets end-use requirements of the manufacturer's customers. Indicative of the NDA, the test results, proprietary specifications, and supplier's identity will be withheld in order to protect both parties' commercial interests. The Irgon Dike is located at the company's 100% owned Irgon Lithium Mine Project, within the prolific Cat Lake-Winnipeg River Pegmatite Field of S.E. Manitoba that hosts the nearby Tantalum Mining Corporation of Canada rare-element pegmatite. QMC is in the process of updating the Irgon Lithium Mine's historic lithium resource through a detailed channel sampling and subsequent drill program.

Nemaska Lithium, Inc. (OTCQX: NMKEF) is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide and lithium carbonate. Nemaska Lithium Inc. recently announced that it has completed its overall CAD 1.1 Billion financing package with the closing today of i) a CAD 280 Million public offering of common shares on a bought deal basis, ii) a CAD 80 Million concurrent private placement of common shares with Ressources Québec Inc., acting as mandatory for the government of Québec, iii) a USD 350 Million offering of senior secured callable bonds and iv) the release from escrow of CAD 93.8 Million from the previously closed private placement with SoftBank Group Corp. "In the past 12 months, we have developed and delivered a comprehensive Project Financing Package that we believe will allow Nemaska Lithium to realize its long-term potential while ensuring sufficient reserves for its future development," said Guy Bourassa, President and CEO of Nemaska Lithium. "With the financial resources in hand, we will build a unique lithium hydroxide and carbonate production facility, in tandem with a spodumene mine, all within the province of Québec. To be vertically integrated, from the mine to the end-product, will give Nemaska a cost advantage over industry peers."

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