written by reader Fate of eCobalt (ECSIF)?

by joker70 | February 22, 2019 1:58 pm

Does anyone have any information that suggests that eCobalt can survive the current assault on its stock price?
Is it going to die before it can sell product?

Source URL: https://www.stockgumshoe.com/2019/02/microblog-fate-of-ecobalt-ecsif/


2 responses to “written by reader Fate of eCobalt (ECSIF)?”

  1. Griffin says:

    The folks at eSlutions are not over zealous Cobalt explorers. They have already seen softness in the Cobalt market. They are taking cost cutting measures to compensate per their last company news.

  2. Here’s part of their press release from a few weeks ago:

    “While the Company continues to advance the ICP, non-essential operating and corporate expenses will be reduced or eliminated. Work at the ICP will focus on activities required to maintain the site and comply with the approved Plan of Operations, with the objective of re-commencing project development when full project financing is secured. Once a production decision has been reached, the timeline to production is still expected to be 18 months. The Company’s workforce will be reduced to only those employees essential for completing all critical path items and ongoing activities at site, which will include continuation of the water monitoring program, monitoring of the storm water plan and environmental compliance.”

    Being a cobalt mine developer pretty well stinks right now, and it seems particularly challenging for them to finalize mine financing on good terms in the face of the collapsing spot price for cobalt. They’ve shuttered this project in the past, too, it began construction and then sat fallow for years when cobalt collapsed last time. I continue to think cobalt is likely to rise over time, thanks largely to battery demand, but it’s looking like a pretty rocky road at the moment and that wreaks havoc with companies that require big cash infusions for mine construction like eCobalt and Clean Teq (I own the latter, sold the former last year).

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.