Chris Berry’s Case for Opportunity in Energy Metals

Chris Berry’s Case for Opportunity in Energy Metals

Chris Berry is known for his positive view on energy metals in the midst of broader weakness in commodities prices. He brought up that point of view again during his presentation at this year's PDAC conference in Toronto, giving some insight into why he favors metals like lithium, graphite and cobalt and what the future might hold for those markets.

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Company News

Global Cobalt Settles Debt

Global Cobalt Settles Debt

Global Cobalt Corp. (TSXV:GCO) announced that it has settled its debt with a creditor whereby the Company has agreed to issue an aggregate of 564,997 common shares at a deemed price of $0.05 per share. The transaction is subject to the approval of the TSX Venture Exchange.

Global Cobalt Performs Strategic Review of Properties and Projects

Global Cobalt Performs Strategic Review of Properties and Projects

Global Cobalt Corp. (TSXV:GCO) directors have created an ad hoc committee for the strategic review of its existing properties and projects, business plan, development strategy and capital structure to ensure that shareholder value is protected. The Company is considering strategic and financial alternatives such as a settlement offer with Imperial Mining Holding Limited for the option agreement and loan agreement; an addition to portfolio of cobalt or strategic metals projects; and creating a new company focused on cobalt and other energy related metals. Global Cobalt cautions shareholders that there are no assurances or guarantees that discussions will result in any agreement.

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.

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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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