Formation Metals Inc. (TSX:FCO) announced that its Board of Directors has reached an agreement, whereby Mari-Ann Green, Scott Bending, and William G. (Bill) Scales will relinquish their positions as CEO, President, and Executive Vice President, respectively and resign from the Board of Directors, effective January 15, 2014.
Paul Farquharson, previously CFO, has been appointed Interim President and CEO and Marc Tran is appointed as CFO.
Global Cobalt Corp. (TSXV:GCO) added a fourth rig to its Karakul Cobalt Project in Russia, and completed the majority of planned holes for the 2013 drill program.
Global Cobalt Corp. (TSXV:GCO) announced its Board of Directors nominated Kamen Zahariev and Alexander Ordanian to the Board.
Global Cobalt Corp. (TSXV:GCO,FWB:3P0) commenced a fully funded drill and technical work program at its Karakul Cobalt Project in Russia. The $3,000,000 program includes a 7,200-metre validation and expansion drill campaign, as well as a metallurgical scoping study.
Formation Metals Inc. (TSX:FCO) continued progress on its Idaho Cobalt Project. Permits are being maintained, maintenance is ongoing to the mining and milling equipment, and surface environmental actions such as road armor protection, log chipping, water testing and sediment control is being initiated. Optimization studies continue with the goal of reducing both capital and operating costs once a decision to proceed with underground development is made.
The Company also provided an update in regards to the termination of the sale of its Sunshine Precious Metals Refinery at the Big Creek Hydrometallurgical Complex. Formation Metals is now pursuing alternative, superior potential transactions and is assisting potential buyers with their due diligence efforts.
Formation Metals Inc. (TSX:FCO) terminated its sale agreement, announced on June 6, 2013, with Waterton Global Resource Management Inc. for its Sunshine Precious Metals refinery in Idaho.
Global Cobalt Corp. (TSXV:GCO) nominated Gaston Reymenants to its Board of Directors, subject to shareholder approval.
Global Cobalt Corporation (TSXV:GCO) is a new multinational cobalt exploration and development company with world-class assets in Canada and Russia. Global Cobalt’s flagship asset, Karakul Cobalt Project in the pro-mining Altai Republic of Russia, potentially represents one of the world’s largest primary strategic metal cobalt deposits, based on its current size and scale.
Global Cobalt Corp. (TSXV:GCO) appointed Dr. Michael Hitch as the Company’s Chief Operating Officer and Paul Sarjeant as the Vice President of Exploration.
Formation Metals Inc. (TSX:FCO) entered into a binding Letter Agreement to sell its Sunshine Precious Metals refinery, copper refinery and certain lands at the Big Creek Hydrometallurgical Complex in Idaho, for US$9 million in cash. As quoted in the press release: The Letter Agreement provides for payment to Formation of a one third share of [...]