Simon Moores: Expect Supply Chain Focus for Megafactory Metals

Simon Moores: Expect Supply Chain Focus for Megafactory Metals

Simon Moores of Benchmark Mineral Intelligence believes that the emergence of battery megafactories will put pressure on supply of graphite, lithium and cobalt. "What I would expect is more focus on the supply chain situation," he told Resource Investing News at VRIC.

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Company News

Formation Metals Releases Letter to Shareholders

Formation Metals Releases Letter to Shareholders

Formation Metals Inc. (TSX:FCO) provided shareholders with a year-end summary of developments, and plans for moving forward. A Preliminary Economic Assessment (PEA) on the Idaho Cobalt Project in Idaho is expected the the coming weeks, with the company anticipating that, "this report will demonstrate that the ICP has the potential to produce battery grade cobalt chemicals." Formation also reports a healthy cash position and no debt, "we have sufficient working capital to fund planned operations based on our current budget. In addition, the ICP's mine and mill site have been diligently maintained to ensure that the requirements of all the permitting agencies have been met and all necessary permits remain in good standing."

Global Cobalt Proposes Settlement of Agreement With Imperial Mining Holding Limited

Global Cobalt Proposes Settlement of Agreement With Imperial Mining Holding Limited

Global Cobalt Corp. (TSXV:GCO) has proposed a settlement with Imperial Mining Holding Limited on the current option agreement. Details of the settlement - Global Cobalt's exploration expenses owed offered as an offset for the current outstanding loan amount owed to IMHL - are currently under discussion.

Katanga Annual Results Show 34 Percent Sales Increase for 2014

Katanga Mining Limited (TSX:KAT) announced its fourth quarter and annual financial results for 2014, which show total sales for Q4 2014 were $262.9 million and total annual sales were $1,078.5 million, a 34% increase over 2013.

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Market News

Apple Looking to Break into Electric Vehicle Market

Benchmark Mineral Intelligence reported that Apple Inc. (NASDAQ:AAPL) is being sued by A123 Systems Inc. (ETR:ALC), a lithium-ion battery producer, for stealing its employees to set up a new battery division.

Chinese Billionaire Aiming to Beat Tesla in EV Market

A recent report from Bloomberg suggests that Chinese billionaire Jia Yueting is aiming to build electric cars and hopes to surpass Tesla Motors Inc. (NASDAQ:TSLA) in terms of building a broadly available electric vehicle.

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