Cruz Cobalt applies for Hector exploration permit
Cruz Cobalt applies for Hector exploration permit
Momentum Public Relations
Press Release: April 19, 2017
Mr. James Nelson reports
CRUZ COBALT TO MAKE APPLICATION FOR EXPLORATION PERMIT ON THE HECTOR COBALT PROSPECT IN ONTARIO
Cruz Cobalt Corp. is making an application for an exploration permit on its 5,500-acre Hector cobalt prospect. This prospect is one of four cobalt projects Cruz has in Ontario all located in the vicinity of the city of Cobalt, home to one of the largest cobalt/silver districts in North America. This permit will cover the following activities of mechanized drilling, mechanized stripping, the pitting and trenching of bedrock, and line cutting.
Cruz president James Nelson stated: “This is the third cobalt work application we have made so far this year, all around the town of cobalt. Cruz is one of the largest landholders in this district and was able to acquire this acreage at a time when cobalt prices were significantly lower than today, and at a time when the majority of the land was open for acquisition. Now, there is virtually no land available in the area that has not been staked and the price of cobalt is over $25, reaching eight-year highs this month. Cruz will be one of the most active junior miners in this district in the coming months and we have more than enough capital on hand to commence multiple cobalt work programs all across North America.”
Cruz currently has nine cobalt projects located throughout North America, comprising four in Ontario, three in British Columbia, one in Idaho and one in Montana. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the city of Cobalt, making Cruz one of the largest landholders in this emerging cobalt district. Cruz’s Ontario projects include the 900-acre Coleman cobalt prospect, the 900-acre Johnson cobalt prospect, the 5,500-acre Hector cobalt prospect and the 1,480-acre Bucke cobalt prospect. The company’s 4,935-acre War Eagle cobalt prospect in British Columbia covers a past-producing mine.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Cruz Cobalt, Mining, News Home
Renewable Energy Defining Point Reached As Economies of Scale Kick In And Tesla’s Elon Musk Bets He Can Save South Australia from Power Shortages
Renewable Energy Defining Point Reached As Economies of Scale Kick In And Tesla’s Elon Musk Bets He Can Save South Australia from Power Shortages
Are Cobalt Shortages In The Future?
Image source: WIRED
Tesla billionaire Elon Musk says he can install battery farm within 100 days or it’s free.
There’s more than just a little irony in the air these days. Just as Donald Trump plans to reduce energy efficiency standards for cars in the United States, a defining point in the history of renewable energy has been made in the form of a bet between billionaire Elon Musk and the State of South Australia. It is the moment that economies of scale kick in driving down and making the cost of grid scale renewable energy rollout feasible.
An energy crisis has been brewing for some time in sunny South Australia leading to blackouts and price spikes. As the debate raged on about how to solve it Musk stepped in during early March and offered to solve the problem by installing 100-300 MW hours of renewable energy electric grid scale battery storage within 100 days of signing the contract.
When Mike Cannon-Brookes tweeted to ask if Musk was serious Musk replied that if he couldn’t do it within 100 days of signing the agreement it would be free of charge. Cannon-Brookes was interested because he is Australian. He is also the co-founder of Silicon Valley start-up Atlassian which builds software development tools. Being Australian, Cannon-Brookes asked Tesla for a “mates rate.” Although contract figures have not been released Cannon-Brookes told the Australian media that Musk offered to almost halve the cost of the project.
Tesla has just finished building a battery farm in southern California that can provide 80 MW Hours of storage at a cost of $100 million in 90 days. Musk is a high-tech visionary who has made his visions pay. In February 2017 his net worth was calculated at $13.9 billion. He co-founded PayPal, Tesla Motors, Solar City and founded SpaceX, the commercial space transportation business.
Long a renewable energy advocate Tesla has built a second business in residential, commercial and electric grid storage batteries under the Tesla Powerwall banner and SolarCity, which he cofounded with a cousin to provide residential battery storage solutions. Musk has frequently noted that he is in the process of changing Tesla from a car company into a clean energy company. Tesla has also recently launched a roofing product designed to take the ugly out of solar panels by producing solar panel roofing shingles that look like slate, in a variety of attractive colours.
Musk’s ability to fulfill his promise to South Australia lies in the fact that on January 17th, 2017 Tesla’s Nevada Gigafactory, located near Reno, started production.
The Gigafactory has already supplied the batteries for a battery farm in southern California. Tesla has grid scale battery farm projects on the go in the UK, Connecticut, North Carolina, Hawaii and New Zealand. Only a third of the 4.9 million square foot Gigafactory which will cost $5 billion and is part of a partnership with Panasonic is up and running but by 2018 it will have doubled global lithium-ion battery production. Two of the most commonly used lithium-ion rechargeable batteries, including Tesla’s, use cobalt as part of the mix.
Large scale rollouts of solar, wind and water energy have been held back by the high cost of storing the electricity generated. Tesla’s Gigafactory and his consequent offer to South Australia are a game changer indicating that although battery storage costs have been falling for years, now they are about to tumble, thanks to economies of scale. It is estimated that Tesla’s lithium-ion batteries which also use nickel and cobalt are about a third less expensive than other batteries. This also means that the cost of electric vehicles and hybrids will begin to drop.
Last year IHS predicted the electric grid scale utility storage battery market to hit US$19 Billion during 2017. Taiyou Research predicts a US$ 30 Billion market in rechargeable Li-ion batteries by 2020.
If you don’t believe that clean energy will become a very viable industry in the near future you should bear in mind that if this year’s game changer is Tesla’s Gigafactory and the economies of scale that will play in strengthening the renewable energy rollout then last year’s may very well have taken place when Facebook founder Mark Zuckerberg, Virgin founder Sir Richard Branson, Linkedin founder Reid Hoffman, Amazon founder Jeff Bezos, HRH Prince Alwaleed bin Talal, Chairman of the Board of trustees, Alwaleweed Philanthropies, Saudi Arabia, among others announced the creation of a clean energy investment group, The Breakthrough Energy Coalition. The coalition is made up of 28 high net-worth entrepreneurs from ten different countries.
Entrepreneurs who have changed the fabric of modern life are already on board. Warren Buffet, through Berkshire Hathaway has invested US$1 Billion and Bill Gates is investing US$1 Billion of his personal money and US$2 Billion through the Bill and Melinda Gates Foundation in renewable energy.
Battery and cobalt demand won’t just be driven by smartphones and Tesla. According to Rockstone Research the Germans are building a battery factory twice as large as Tesla’s, the Chinese are building four that are bigger than the Nevada Gigafactory, the Japanese are building two and the South Koreans are building one.
Savvy retail investors may be wondering how to take part in this emerging market and one perspective may be to look at it as a commodity market. Lithium stocks went through a gold rush period a few years ago propelled by the rechargeable battery market and now thanks to the amount of cobalt in a car battery and in laptops and smart phones it looks as if cobalt is set to takeoff. The battery pack for Tesla Model S, for instance, contains an estimated 22.5 Kg of cobalt.
Another factor that comes into play is secure supply and ethical sourcing. The refined product market is largely controlled by China, which has a history of trade embargoes and tariff walls when it comes to protecting resources and products for itself. The majority of raw cobalt comes from the Democratic Republic of Congo where much of the mining is done by child workers.
Nobody wants to drive a car or use a cell-phone powered by child labour and so the hunt is on for ethically sourced, securely supplied cobalt. Elon Musk has said that he is going to source the raw materials for his batteries from North America. At the moment there are no producing cobalt mines in North America. Exploration, however, is being fast tracked. Cruz Cobalt is one of the junior mining companies that may benefit. Commodity research house CRU has predicted cobalt demand to rise by 16{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} annually through 2022.
The LME has predicted that by 2020 the amount of cobalt used in rechargeable batteries could equal the total amount refined in 2015.
In a recent press release announcing the acquisition of the Chicken Hawk Cobalt Prospect in Montana, Cruz Cobalt, (CUZ—TSXV, BKTPF—OTCBB, A2AG5M–FSE), Cruz Cobalt President James Nelson stated:
“This new prospect now makes 9 cobalt prospects within North America that Cruz has secured. Cruz has also secured one of the largest land packages, consisting of 4 separate cobalt prospects, all located in the Cobalt/Silver district of Ontario surrounding the city of Cobalt. Cobalt prices continue to trade to new 5 year highs and have been on a significant uptrend over the past 12 months. Cruz is fully funded to commence operations on all of its 9 cobalt prospects and management expects to be on the ground very shortly.” If Cruz is successful then early investors will benefit accordingly. As of March 17, CUZ traded at $0.205 and has a total of 55,065,386 shares and a market cap of $11,288,404.
Another promising Canadian company exploring for cobalt is Kings Bay, (TSXV: KBG) which over the last year has acquired five prospective cobalt properties, two in Newfoundland Labrador and three in Northern Quebec. Kings Bay was recently reported on in the Financial Post where CEO Kevin Bottomley stated that the company’s Lynx Lake project near Happy Valley Goose Bay had shown initial results with very high cobalt numbers. The company has recently acquired a highly prospective cobalt property on Trump Island in NL. Their three properties in Quebec were worked on by Falconbridge around 2000 and Bottomley describes them as having initial positive results. Bottomley was previously associated with mining incubator Zimtu Resources and as a result has access to a network of European investors eager to invest in Canadian resource projects. Kings Bay traded at $0.18 on March 17, 2017 and has 41 million shares and a market cap of $7 million.
By Noel Meyer
- Published in Blog, Cruz Cobalt, Energy, Green Technology, King's Bay, Mining, Technology
Cruz Cobalt closes prospect acquisition in Montana
Cruz Cobalt closes prospect acquisition in Montana
– Momentum Public Relations –
Press Release: March 21, 2017
Cruz Cobalt Corp. has closed on the recently announced Chicken Hawk cobalt prospect in Montana, United States. This new prospect consists of 64 contiguous lode claims covering approximately 1,300 acres. The Chicken Hawk cobalt prospect claims are located on the western edge of the Boulder batholith and east of the Cordilleran fold and Thrust belt in southwestern Montana. Covering a boundary between a Cretaceous granodiorite and the Lowland Creek volcanics from the Eocene, the eight current claims are in the vicinity of a total of four volcanic rock suites. Cobalt, the primary targeted commodity of the Chicken Hawk, is occurring in the pyritized andesite and as cobaltian arsenopyrite; the sulphides are pnuematolytic in origin. The 64 claims surround four patented claims, no less than 15 unclaimed prospects and three unclaimed adits.
Cruz president James Nelson stated: “We are pleased to have closed on this additional Cobalt prospect. Cruz is focused on acquiring, developing or joint venturing high-quality cobalt prospects. Cruz currently has approximately $1.95-million in cash and securities on hand as of today and we plan to implement multiple work programs across multiple counties and provinces. Cruz has one of the largest land packages in the Cobalt mining district in Ontario and we expect to be one of the most active companies in the district this next quarter.”
Recently Cruz also announced that management has commenced the application for an exploration permit on its Johnson cobalt prospect. This prospect is located in the vicinity of the city of Cobalt, home to one of the largest cobalt/silver districts in North America. This permit will cover the following activities of mechanized drilling, mechanized stripping, the pitting and trenching of bedrock, and line cutting.
Cruz currently has seven cobalt projects located in Canada, one in Idaho and now one in Montana. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the city of Cobalt, making Cruz one of the largest landholders in this emerging cobalt district. The 900-acre Coleman cobalt prospect, the 900-acre Johnson cobalt prospect, the 5,500-acre Hector cobalt prospect and the 1,480-acre Bucke cobalt prospect. The 4,935-acre War Eagle cobalt prospect in British Columbia covers a past-producing mine.
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Cruz Cobalt, Mining, News Home
Cruz Cobalt to apply for exploration permit at Johnson Cobalt Prospect in Ontario
Cruz Cobalt to apply for exploration permit at Johnson Cobalt Prospect in Ontario
– Momentum Public Relations –
Press Release: March 17, 2017
Mr. James Nelson reports
Cruz Cobalt Corp. is making an application for an exploration permit on its Johnson cobalt prospect. This prospect is located in the vicinity of the city of Cobalt, home to one of the largest cobalt/silver districts in North America. This permit will cover the following activities of mechanized drilling, mechanized stripping, the pitting and trenching of bedrock, and line cutting.
Cruz president James Nelson stated: “We are pleased to have started the process to be able to commence work on another of our cobalt prospects in Ontario. We have now started the process on two separate cobalt prospects in the premier address for cobalt in Canada. Cruz has amassed one of the largest land packages in the cobalt district right around the city of Cobalt and we plan to be active on all of these projects this season. Cruz will be one of the most active juniors in the region and being one of the first entrants in the cobalt space gives Cruz an early mover advantage by being able to hand pick its Cobalt prospects, before most new entrants considered cobalt as a target. Cruz has enough cash on hand to commence operations on all the Ontario cobalt projects.”
Cruz currently has seven cobalt projects located in Canada, one in Idaho and now one in Montana. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the city of Cobalt making Cruz one of the largest land holders in this emerging cobalt district. The 900-acre Coleman cobalt prospect, the 900-acre Johnson cobalt prospect, the 5,500-acre Hector cobalt prospect and the 1,480-acre Bucke cobalt prospect. The company’s 4,935-acre War Eagle cobalt prospect in British Columbia covers a past-producing mine.
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Cruz Cobalt, Mining, News Home
Cruz Cobalt agreement for Chicken Hawk
Cruz Cobalt agreement for Chicken Hawk
– Momentum Public Relations –
Press Release: March 13, 2017
2017-03-13 16:11 ET – Property Agreement
The TSX Venture Exchange has accepted for filing an agreement dated Feb. 27, 2017, between Cruz Cobalt Corp. and Chancellor Corp. (Dane Brown), whereby Cruz Cobalt is acquiring a 100-per-cent interest in the Chicken Hawk prospect in southwestern Montana. In consideration, the company will issue three million common shares.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Cruz Cobalt, Mining, News Home
Cobalt’s surge attracts string of market hopefuls
Cobalt’s surge attracts string of market hopefuls
Like moths drawn irresistibly to light, the surge in the price of cobalt over the past few months has sponsored a couple of quick sharemarket floats and a rush of explorers hoping to latch onto the latest signs of life among some of the more exotic metals.
Just as lithium has won a lot of speculative investor support on the back of the prospects of rising demand with increased battery usage thanks to electric cars, even though any demand from this source is a decade away, at the very least, now it is cobalt’s turn.
Also giving cobalt a lift was the criticism of Apple Computer for sourcing its supplies of the material from uncontrolled mines in Congo, along with security issues in parts of that country that have raised additional questions over the security of supply.
Apple has said it will tighten control over its purchases of cobalt to avoid both child labour and harsh working conditions, although it has also said it wants to avoid causing too much disruption to the miners who need the income from supplying the high-tech giant.
In the process, the price of cobalt has surged around 40 per cent over the past few months to more than $50,000 a tonne, with the speed of the rally catching may in the market by surprise.
So, for a material that has been mostly an unwanted byproduct of nickel or copper mines, with usually very little value, the surge in its price has raised the prospect that standalone cobalt mines could be developed if the price rise proves to be sustained.
Geoff Hill, long-time investment banker and corporate adviser, initially to John Spalvins who spun a tug boat operator in Adelaide to a sprawling conglomerate owning breweries and department stores last century, was quick out of the blocks, launching a $10 million raising for Cobalt Blue. It was issuing shares at 20¢ in February that are now trading at more than 30¢.
Ditto for Ardea Resources, which also issued shares last month at 20¢ which are trading at more than 50¢ a piece after a recent run to more than 90¢. It was spun out of Heron Resources, and it is already touting a pre-feasibility study on some cobalt-nickel acreage near Kalgoorlie, which it is calling the “largest resource in the developed world”.
A host of others have figured out that pegging cobalt acreage might just give their share price sufficient lift to justify a quick fund-raising so they can eke out another few months of life. Last Tuesday, it was Latin American Resources disclosing acreage in Argentina and later in the week Cohiba Minerals was updating the market on some acreage it is looking at.
“There are a lot of companies looking at the potential, with what they’ve got,” said Mike Millikan, analyst with Hartley, pointing to Independence Group with its Nova project. “At the moment there is a lot of interest but it is anyone’s guess how long it will last.”
Brian Robins
- Published in Blog, Cruz Cobalt, Mining
Cruz Cobalt to acquire Chicken Hawk prospect
Cruz Cobalt to acquire Chicken Hawk prospect
– Momentum Public Relations –
Press Release: February 28, 2017
Mr. James Nelson reports
CRUZ COBALT TO ACQUIRE THE CHICKEN HAWK COBALT PROSPECT IN MONTANA
Cruz Cobalt Corp. has entered into an agreement with an arm’s-length vendor to acquire the Chicken Hawk cobalt prospect located in Deer Lodge county, Montana. This new prospect consists of 64 contiguous lode claims covering approximately 1,300 acres.
The Chicken Hawk cobalt prospect claims are located on the western edge of the Boulder batholith and east of the Cordilleran fold and Thrust belt in southwestern Montana. Covering a boundary between a Cretaceous granodiorite and the Lowland Creek volcanics from the Eocene, the eight current claims are in the vicinity of a total of four volcanic rock suites. Cobalt, the primary targeted commodity of the Chicken Hawk, is occurring in the pyritized andesite and as cobaltian arsenopyrite; the sulphides are pnuematolytic in origin. The 64 claims surround four patented claims, no less than 15 unclaimed prospects, and three unclaimed adits.
Cruz president, James Nelson, stated: “We are very pleased to acquire this new cobalt prospect. Management believes that the cobalt trend in the Western USA snakes its way through Idaho, into Montana and up into Southern B.C. This is the targeted pattern of acquisition that Cruz has focused on in the past year. This new prospect now makes nine cobalt prospects within North America that Cruz has secured. Cruz has also secured one of the largest land packages, consisting of four separate cobalt prospects, all located in the Cobalt/Silver district of Ontario surrounding the city of Cobalt. Cobalt prices continue to trade to new five-year highs and have been on a significant uptrend over the past 12 months. Cruz is fully funded to commence operations on all of its nine cobalt prospects and management expects to be on the ground very shortly.”
Cruz currently has seven cobalt projects located in Canada and one in Idaho and now one in Montana. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the city of Cobalt. The company’s projects include the 900-acre Coleman cobalt prospect, the 900-acre Johnson cobalt prospect, the 5,500-acre Hector cobalt prospect, the 1,480-acre Bucke cobalt prospect and the company’s 4,935-acre War Eagle cobalt prospect in British Columbia. Terms of this deal call for three million shares to be issued upon Toronto Stock Exchange approval.
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Cruz Cobalt, Mining, News Home
Cruz Cobalt to apply for Bucke exploration permit
Cruz Cobalt to apply for Bucke exploration permit
– Momentum Public Relations –
Press Release: February 24, 2017
Cruz Cobalt Corp. is making an application for an exploration permit on its Bucke cobalt prospect. This prospect is located in the vicinity of the city of Cobalt, home to one of the largest cobalt/silver districts in North America. This permit will cover the following activities of mechanized drilling, mechanized stripping, pitting and trenching of bedrock, and line cutting.
President James Nelson stated: “We are very pleased to initiate the application process which will enable Cruz to commence operations on the Bucke cobalt prospect near the town of Cobalt, Ont. Cruz has eight separate cobalt prospects, four in Ontario, three in British Columbia and one in Idaho. Cobalt prices have just established five-year highs and the price is up more than 100 per cent in the past 12 months. Management is optimistic about the cobalt trend and look forward to getting boots on the ground shortly on this cobalt prospect.”
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Cruz Cobalt, Mining, News Home
Cruz Cobalt receives TSX-V approval for name change
Cruz Cobalt receives TSX-V approval for name change
– Momentum Public Relations –
Press Release: February 23, 2017
Mr. James Nelson reports
CRUZ CHANGES NAME TO CRUZ COBALT CORP
Cruz Capital Corp. has received TSX Venture Exchange approved for its name change to Cruz Cobalt Corp., as previously announced on Feb. 9, 2017. Effective at the open on Feb. 23, 2017, the common shares of Cruz Cobalt will commence trading on the TSX Venture Exchange, and the common shares of Cruz Capital will be delisted. There is no consolidation of capital. The name change was approved by the board of directors on Feb. 2, 2017. Changing the name accurately reflects Cruz’s focus on high-quality, ethically located cobalt assets.
President James Nelson states: “Cruz employed early-mover advantage as we have been able to acquire what we feel is one of the best collections of high-grade cobalt prospects in North America before the majority of the recent cobalt entrants were in the space. Cruz currently has seven cobalt projects located in Canada and one in Idaho. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the city of Cobalt. According to government mineral files, the 900-acre Coleman cobalt prospect returned cobalt grades of 13 per cent, the 900-acre Johnson cobalt prospect returned grades of 10.5 per cent cobalt, and the 1,480-acre Bucke cobalt prospect returned cobalt grades of 13 per cent. The 5,500-acre Hector cobalt prospect covers multiple cobalt occurrences. Our War Eagle cobalt prospect in British Columbia covers a past-producing mine as well and returned assays of 6.5 per cent cobalt. Based on these projects, management feels that Cruz has amassed a quality portfolio of cobalt assets that have some of the highest historic cobalt grades in North America, which sets Cruz apart from most cobalt companies in the junior space.
“We feel that 2017 will be a breakout year for cobalt prices as they have just spiked up to new five-year highs up more than 100 per cent in the past 12 months. Cruz is well positioned to take full advantage of this as Cruz has the funds already raised to commence full operations on these projects, with our goal to make Cruz the go-to North American cobalt project generator and developer. The first half of 2017 will be an extremely active period for Cruz, and management is optimistic about what will be discovered by Cruz on our cobalt properties,” states Mr. Nelson.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Cruz Cobalt, Mining, News Home
Cruz Cobalt grants options to buy 300,000 shares
Cruz Cobalt grants options to buy 300,000 shares
– Momentum Public Relations –
Press Release: February 23, 2017
Mr. James Nelson reports
CRUZ GRANTS $0.35 STOCK OPTIONS
Cruz Cobalt Corp. has granted, pursuant to its 10-per-cent rolling stock option plan, 300,000 incentive stock options to directors, officers and consultants at an exercise price of 35 cents per share for a term of four months.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Cruz Cobalt, Mining, News Home
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