back Global Cobalt President & CEO Outlines Cobalt Project Consolidator Strategy
November 4, 2014 | Category: Press Releases
VANCOUVER, BC / NOVEMBER 4TH, 2014 / GLOBAL COBALT CORP. (TSXV:GCO, OTCBB:GLBCF, FRA:3P0) ("Global Cobalt", and/or the "Company") is pleased to announce the release of a video interview by Investing News Network ("INN") of the Company's President & CEO, Erin Chutter.
The interview provides shareholders and interested parties with a detailed overview of the Company's vision of becoming a consolidator in the cobalt project space and provides clarification on the key corporate matters.
To watch the full interview please click on the hyperlink below:
Global Cobalt - A Consolidator of Cobalt Projects
Erin discusses how Global Cobalt is building value in today's difficult markets and presents the corporate strategy of becoming a consolidator and developer within the cobalt market and funding at the project level rather than at the corporate level to minimize dilution while rebuilding value back into the Company.
The impact the Russian geopolitical situation has had on the Company is addressed along with how Global Cobalt has listened to its shareholders who are uncomfortable with the Russian exposure by bringing in new projects into the company.
Ms. Chutter clarifies the Company's intent to protect the Company's stake with respect to its option agreement to acquire a 100% interest in the Karakul property. She also emphasizes the commitment to Karakul through the foundational work that the Company's Chinese partners, BGRIMM, are continuing to do to maintain and advance the Karakul Project towards an economic decision given the robust resource delineated earlier in the year.
Erin speaks to the price resurgence in the cobalt market in the past year given increasing demand pressures from the growing battery sector and announcements of large super battery plants like Tesla's planned Gigafactory. She also notes the supply constraints brought on by the fragility in the already tight raw material supply and how Global Cobalt is positioning itself to benefit from the scramble to secure new cobalt supply.
In conclusion, Ms. Chutter provides listeners with an update on the Company's North American project portfolio including the 100% owned past producing Werner Lake Cobalt Project in northwestern Ontario and the recently added Iron Creek project located in the highly perspective Idaho Cobalt Belt, in the United States. She stresses that the Company continues to look at other projects to bring into the fold acknowledging theCompany's primary objective of becoming a consolidator within the cobalt market.
Global Cobalt Corporation:
Global Cobalt Corporation is a publicly traded Canadian resource company that was founded in 2007 to take advantage of the global transformation that is occurring in the strategic metals sector of the mining industry. Through a combination of acquisitions and internally developed businesses, Global Cobalt exploits market opportunities as they emerge in various sectors of the strategic metals sector with emphasis on those metals, such as cobalt, used in the rechargeable battery space.
For Further Information:
Mr. Mitchell Smith, Corporate Development
Suite 1510-1050 West Pender Street
Vancouver, BC V6E 3T4
Tel: +1 (604) 688-4219
Fax: +1 (604) 688-4215
Email: [email protected]
www.GlobalCobaltCorp.com
TSXV:GCO; OTCBB:GLBCF; FRA:3P0; CUSIP:37890F
Cautionary Statement on Forward-Looking Information: This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws, concerning the business, operations and financial performance and condition of the Company. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements contained in this news release include statements with respect to: expectations regarding shareholder approval of the Amendment; the delivery of a National Instrument 43-101 compliant technical report and mineral resource estimate for the Karakul cobalt project and the ability of the Company to raise the additional funds required for the continued development of its mineral properties. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from our expectations include uncertainty about the level of shareholder support for the Amendment and the share issuances contemplated thereunder; the need to obtain permits and governmental approvals; risks of construction and mining projects such as accidents, equipment breakdowns, bad weather, non-compliance with environmental and permit requirements, unanticipated variation in geological structures, ore grades or recovery rates; unexpected cost increases; fluctuations in metal prices and currency exchange rates; the impact of economic sanctions on companies conducting business in Russia; and other risk and uncertainties disclosed in reports and documents filed by the Company with applicable securities regulatory authorities from time to time. The forward-looking statements made in this news release reflect management's beliefs, opinions and projections on the date the statements are made. Except as required by law, Global Cobalt assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
