Lemhi County Citizen Journalism


eCobalt Solutions Inc. [ECS-TSX, ECSIF-OTCQX] has arranged a $26 million bought deal financing  to advance development of the company’s 100%-owned Idaho Cobalt Project located 26 miles west of Salmon, Idaho, which could soon rank as the only primary producer of cobalt in the United States, eCobalt CEO Paul Farquharson has said.

Farquharson is referring to the fact that the majority of the world’s cobalt is mined as a byproduct of copper and nickel.

Under the terms of the financing, the underwriters have agreed to purchase 20 million units of the company at $1.30 per unit. The underwriting syndicate led by TD Securities has been granted the option to buy an additional three million units at the same price for a period of 30 days after the closing date, potentially raising the total proceeds to $30 million.

eCobalt shares eased 12% or $0.175 to $1.28 in early trading Wednesday February 14. The 52-week range is $2.10 and 85 cents. ...

Off Site Article: 

A task force of legislators, officials from the Idaho Department of Fish and Game, the Idaho Sportsmen’s Commission and ranchers recently came together to try and figure out how to handle elk herds that are costing ranchers in Lemhi County a lot of money. Allowing responsible hunters to come on ranch lands and harvest the elk has been one tact but as yet has not been very effective. Fish and Game Director Ed Shriver says the solution to the problem is complex: “Not every landowner wants hunters on his property, we understand your rights as private landowners. I think you all understand how complex it is for us to find solutions that dovetail into your operation and meet your needs.” Curtis Hendrix, regional wildlife manager says events like the task force are very useful for finding a solution everyone can live with.

Off Site Article: 

The Idaho Department of Labor offices in Idaho Falls, Rexburg and Salmon are actively recruiting youth for the Workforce Innovation and Opportunity Act (WIOA) program. Grant money is available through the WIOA program to help youth and young adults who are struggling in their career due to a lack of education or job training.

The WIOA program provides qualifying young adults with career guidance and financial assistance to help achieve their educational and employment goals. Services are customized to meet the needs of each applicant and may include job search assistance, work experience, apprenticeships or formal training programs as well as a variety of other assistance.


Off Site Article: 

November 10, 2017  —  eCobalt Solutions Inc. (ECS-TSX) (“eCobalt” or the “Company”) is announcing the SEDAR filing of a Feasibility Study Technical Report (“FS”) of the Company’s Idaho Cobalt Project (“ICP”), the only environmentally permitted, primary cobalt project located in the United States (see company news release dated September 27, 2017).  The economic model uses a 34% corporate tax rate and a 7.5% discount rate, resulting in an after-tax NPV of $135.8M and an IRR of 21.3% using an average base case price of $26.65/lb for contained cobalt in cobalt sulphate.


Off Site Article: 

The following is a news release from Regional Economic Development of Eastern Idaho.
BLACKFOOT — Vancouver, British Columbia based eCobalt has announced plans to develop a cobalt mining operation in Salmon and hydrometallurgical refinery on a railhead in neighboring Blackfoot. The Salmon mine is the only environmentally permitted primary cobalt project in the United States.
With pre-construction activities already underway, the vertically integrated Idaho Cobalt Project is designed to produce cobalt for the rechargeable batteries market. The total capital and reclamation cost is estimated at $288.1 million.
“We are thrilled to announce eCobalt’s massive investment in our community that could create 60-90 full-time, well-paying jobs,” said Blackfoot Mayor Paul Loomis. “The Idaho Cobalt Project is projected to support mining and refining capabilities through 2029. We’re excited to welcome eCobalt to Blackfoot and support their Idaho Community Block Grant application requesting funds to build a new railroad spur here, vital to improving their mine to refinery transport capabilities,” he said.
Refinery jobs will pay in the $60,000-$70,000 range. Approximately 125 jobs will be created at the Salmon mine.
Off Site Article: 

ECOBALT SOLUTIONS COM NPV (OTCMKTS:ECSIF) may have been flying under the radar, but this is a stock with eye-popping steady bullish performance over the past 18 months. ECSIF shares have consistently plowed higher in a steady move that has seen over 1,900% upside in that time. The company has been levered to the cobalt boom, which explains the strength. But this is an interesting angle on that story.

The company just announced positive economics from the Feasibility Study of the Company’s Idaho Cobalt Project, “the only environmentally permitted, primary cobalt project located in the United States. The FS is based on an underground mine with a target production rate of 800 short tons per day and a weighted average annual production of 2.4M lbs of cobalt, 3.3M lbs of copper and 3,000 oz of gold over a 12.5 year mine life with an estimated pre-production period of 24 months utilizing a 0.25% cobalt cut-off grade. The economic model uses a 34% corporate tax rate and a 7.5% discount rate, resulting in an after-tax NPV of $135.8M and an IRR of 21.3% using an average base case price of $26.65/lb for contained cobalt in cobalt sulphate.”

ECOBALT SOLUTIONS COM NPV (OTCMKTS:ECSIF) trumpets itself as a company committed to providing a unique opportunity for consumers to acquire an ethically sourced, environmentally sound, transparent supply of battery grade cobalt salts, essential for the rapidly growing rechargeable battery and renewable energy sectors, produced safely and responsibly in the United States.

Off Site Article: 

There are a lot of maybes in this world, but as president and CEO of Midas Gold Idaho, I can give you a few guarantees.

I can guarantee that without the Stibnite Gold Project, a branch of the Salmon River will continue to flow into an abandoned mine pit, preventing salmon migration; millions of tons of uncontained legacy spent ore and tailings will remain a likely source of water contamination; and Stibnite will remain an unreclaimed, abandoned mine site.

Before our project can proceed, I can guarantee that restoration of existing conditions will be included in our permits and that we will be required to provide funds to remediate impacts from our operations to ensure the site is finally reclaimed and restored.

Off Site Article: 


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