Was haltet ihr von Kobalt und Formation Cap - 500 Beiträge pro Seite

[kommanull]

Hat jemand Infos, soll nicht bald die pre Bfs kommen?

gruß ,0

[kommanull]

Hi,
leider nur in Englisch. Viel Spass beim lesen.

,0


Formation Capital: An Emerging Strategic Super Alloy Cobalt Producer"

By Marc Davis
June, 2007


Corporate Overview

Formation Capital Corp. (TSX -FCO) is an advanced-stage junior mining and refining company that is poised to realize its long-held strategic vision of becoming the Western Hemisphere’s only primary producer of cobalt – an essential metal for the high-tech and defense industries. As of recently, cobalt has also become crucial to the development of a burgeoning multitude of environmental technologies, such as hybrid automobiles.


As evidence of how close Formation is to the “goal line,” the two most important value drivers for Formation’s share price at this time are:

a) a milestone bankable feasibility study (an independently formulated blueprint for a mine) is expected to be published in a matter of weeks

b) the Company’s flagship 100%-owned Idaho Cobalt Project is within a few months of the final completion of a pivotal mine permitting process



Indeed, these two champagne-popping events should pave the way to Formation (http://www.formcap.com/) becoming a world-class producer of high-purity, critical application cobalt as early as November or December, 2008.



However, this is no overnight success story in-the-making. It is the culmination of a dozen years of shrewd geological sleuthing and painstaking developmental work. Similarly, it has also involved the careful nurturing of an excellent rapport with all the government agencies and area residents who have a say in the future of the mine.



That said, Formation is already gearing up for a running start. In this regard, the Company has strategically developed a vertically integrated business model by way of its outright ownership of a northern Idaho-based hydrometallurgical complex for producing high-grade cobalt metal. This “hydromet” facility is key to the projected robust economics of the deposit.



Benefiting from a multi-metals refining capacity, this operation is also capable of processing the significant copper ore resources that will be mined as a by-product of the cobalt. Likewise for the Company’s modest gold inventory.



However, the biggest payoff will be in the form of an initial projected annual production capacity of 1,600 tonnes of high-purity cobalt. This translates into just over 3.5 million pounds of cobalt. Add to this figure up to 8 million pounds of copper and about 3,000 ounces of gold and the economics of the project become increasingly robust.



These numbers may be regarded as a base case scenario in that the Idaho Cobalt Project’s overall mineral inventory – which may yet expand as much as ten-fold – is still largely undefined. In fact, the significant reserves and resources that are the basis of Formation’s bankable feasibility study constitute only one of 20 known mineralized zones (16 of which have yet to see any systematic exploration).



Specifically, this extensively-drilled mineralized system is known as the Ram deposit. Additional reserves and resource were outlined for the Sunshine Deposit, which have not been included in the feasibility study. Meanwhile, both deposits remain “open” (continuous) at depth and along “strike” in at least one direction (the direction of the mineralization’s axis).



Most significantly, Formation is on-track to firmly establish this world-class discovery as the planet’s sole, high-grade, in-situ primary cobalt deposit, capable of producing specialty metal high purity cobalt. As if that’s not encouraging enough, the mine also promises to be one of the lowest cost cobalt producers. Logistically, the project not only benefits from excellent infrastructure but it is also situated at the heart of the world’s second most prolific marketplace for this rare metal, with the U.S. outdone only by China’s voracious demand for the metal.



Cobalt: Fueling the Furnace of North America’s 21st Century Industries

The importance of such extremely compelling dynamics cannot be overstated. Especially as the U.S. accounts for about 22% of the world’s annual consumption of cobalt. And more importantly for Formation Capital, the U.S. consumes 60% of the high purity, super alloy grade variety in an era in which demand is clearly beginning to outstrip supply. And this emerging trend shows no signs for abating for at least the next few years, particularly due to its designation as an “environmental metal.”



This precarious situation is exacerbated by the fact that the U.S. is almost entirely dependent on foreign cobalt imports from nations that are typically fraught with potential geopolitical risks. Given cobalt’s designation by the U.S. government as a strategic metal, the need to ensure an uninterrupted long-term supply is of paramount importance for the U.S. economy and defense needs, alike.



Notably, the cobalt metal at this deposit is of such high purity material that it is particularly suitable for critical application super alloy grade applications like the moving parts and blades of jet turbine engines.



Such metals have very tight specification requirements. It is not so much how much cobalt is in the metal (>99.9%), but rather what is in the remaining 0.1 to 0.2% as impurities that is important. Formation’s mine is therefore metallurgically-favourable for the production of the high purity cobalt metal that is ideally suitable for this strategically valuable niche market.



Most market analysts are therefore in accord with the viewpoint that an ever-increasing high-tech-derived demand for cobalt will keep prices trending upwards for the foreseeable future.



Compelling Project Logistics

Located in east central Idaho near the rural town of Salmon, Formation’s in-development mine has already been extensively modeled with a view to establishing a comfortable threshold for profitability. To date, the existing resource base consists of 46.5 million pounds of cobalt, 50.7 million pounds of copper, and 60,500 ounces of gold, with excellent potential for expansion. In other words, annual cash flow could easily surpass U.S. $50 million.



Total measured and indicates resources outlined to date are 2,654,400 tons of 0.628% cobalt, 0.619% copper, and 0.016% gold. This includes 1,840,700 tons of measured resources – these resources include reserves that are not as yet broken out.



The broken out reserves - the most reliable and detailed classification of a mineral inventory - will be made available in the Company’s soon-to-be-published National Instrument (NI) 43-101 compliant bankable feasibility study. Furthermore, an additional 1,121,600 tons of inferred resources at relatively comparable grades may yet add at least another four years to a projected minimum mine life of 10 years – once these resources are better defined by way of more extensive drilling.



This latest NI 43-101 compliant resource estimate was independently assessed in the fall of 2006 by Mine Development Associates of Reno, Nevada. This calculation has expanded upon a previous 2005 resource estimate by a further 20% as a result of additional 2005-06 drilling at the Ram deposit. (Again, both the Ram and Sunshine deposits are still amenable to further expansion).



Mining-savvy readers will be impressed to learn that the Idaho Cobalt Project’s Ram and Sunshine deposits have to date be the focus of approximately 123,212 feet of drilling, spanning no less than 184 holes.



The “Big Picture”

It cannot be overemphasized that the potential to dramatically increase the project’s known reserves and resources is considered excellent with a district potential to host up to 50 million tons of high-grade ore.



Short of a very unlikely collapse in cobalt prices, the economic outlook for this project is therefore excellent. The initial annual production forecast of 1,600 tonnes of cobalt is expected to represent at least 4% of world cobalt production and would satisfy about 15% of North America’s current demand.



Furthermore, production could be ramped-up over the course of several years, to accommodate additional deposits that may be brought into production. Accordingly, a low production cost of U.S. $7-8 per pound is likely to continue to drop as a factor of economies of scale.



SmallCapMedia is therefore confident that an independently evaluated U.S. $218 million Net Project Value (8% discounted, using a conservative $19.40/lb average cobalt price at a time when cobalt is trading in the $30/lb range) for the Idaho Cobalt Project is a very credible, if not conservative, estimate.



In turn, this represents an impressive Internal Rate of Return of 108% i.e. a projected payback on capital expenditures of less than 12 months. This is an almost unprecedented situation in an industry where mines typically take years to provide a payback on start-up costs.



These economics are from an independent engineering report conducted in 2001 when the project was in the “pre-feasibility stage”, before the requirements for reporting mineral reserves and economics were defined in National Instrument 43-101. The Company has since added additional resources and has fine-tuned the metallurgy, resulting in better recoveries. The long awaited updated NI 43-101 compliant reserve, resource base and project economics will be included in the bankable feasibility study, which is due before the end of June 2007.



It is also worth noting that Formation’s mineral-rich property surrounds the past-producing Blackbird Mine (which produced 1.74 million tons grading 0.63% cobalt and 1.65% copper). This historical footnote also attests to the largely-untapped potential of the Blackbird Cobalt District for other important finds.



Mitigating Political/Environmental Risks

It is no surprise that this much-anticipated mine has strong support at all levels of the U.S. government. This includes the enthusiastic backing of Idaho’s Governor, Butch Otter.



Even the federal Forest Service, the lead agency in the permitting process, has recently gone on record stating that: “The proposed action is to approve a Plan of Operations for the Idaho Cobalt Project that would allow the development of two underground mines, a waste disposal site and associated facilities on National Forest System land west of Salmon, Idaho.”



The other key government agencies involved in the permitting process, the Environmental Protection Agency and the Idaho State Department of Environmental Quality, are also on-side now that Formation is nearing the completion of a U.S. $15 million environmental impact study – one that clearly attests to the small environmental footprint of the proposed mine.



Meaningful evidence of Formation’s firm commitment to conscientious environmental stewardship include a commitment to the mine’s use of dry stacked (inert) tailings, instead of a tailings pond, and up to 50% of tailings will be backfilled underground. Moreover, water treatment will include a reverse osmosis system that will discharge clean, drinkable treated water back into area streams. In essence, such a scenario essentially would make this one of the cleanest operating mines in the world.



This environmentally-friendly mine is also expected to offer considerable economic stimulus in an underdeveloped rural economy. This reality has been well-received by area residents. In fact, local support for the project is so strong in this small ranching and farming community that over 84% of the local population voted in favour of the mine in a recent poll.



These are very key developments as Formation’s share price has been largely restrained during the last several years by some uncertainty as to whether the mine’s environmental impact would satisfy the stringent approval process of government regulators. However, it is now obvious that Formation has enthusiastically embraced this challenge and is about to pass with flying colours.



Indeed, now that the Company’s Draft Environmental Impact Statement has been completed and the routine public input process was completed on May 24 with the Forest Service now reviewing all the public comments. It’s no wonder that the Company’s share price is certainly perking up in advance of this momentously positive benchmark development.



A Brief Background: Paving the Way to Financial Success

Formation’s arrival at this critical juncture has not come without a few bumps in the road. The Company weathered a prolonged five-year slump in the mining industry that only ended in late 2003. But its luck has certainly taken a sharp turn towards the upside since then. For instance, Formation orchestrated a key strategic coup in 2002 that further underscores the project’s bright economic prospects. It concerns a very important acquisition.



Specifically, we’re talking about the Big Creek Hydrometallurgical Complex. Located along a major interstate highway about 200 miles to the north of its Idaho Cobalt Project, it was purchased for U.S. $1.275 million from liquidators after its owner, Sunshine Precious Metals, ran into serious financial difficulties. Its replacement cost is estimated to be between U.S. $50-70 million, thereby providing Formation with tremendous capital cost savings towards the development of its vertically integrated cobalt mining business.



Moreover, Formation recently announced that it had sold a wet tailings facility associated with the complex for U.S. $4.5 to one of its neighbours which is developing a silver mine in the area. In essence, the Company netted U.S. $3.3 million in the acquisition of this multimillion dollar facility – a smart move by management and a great deal for its shareholders.



This environmentally-sound zero-discharge complex even includes a stand-alone gold and silver refinery that is capable of annually producing 10 million ounces of silver, 350,000 ounces of gold and 8 million pounds of copper. Formation has to date spent approximately U.S. $6 million to retrofit the facility.



Another important consideration is the fact that key previous Sunshine Precious Metals Refinery operating personnel have been re-hired, as well as an experienced core operating crew from among the former Sunshine employees, making this a turnkey operation once the retrofit has been completed for accepting cobalt concentrate.



Further attesting to Formation’s shrewd business acumen, this refining complex is already beginning to generate a fast payback on the Company’s investment. As of June, 2004, the plant’s silver refinery was reactivated to process third-party silver materials into high purity silver bars. Now the plant is already generating nearly U.S. $1 million a year in operating profits from this strategic hard asset.



Plans to expand the complex by up to 50% would allow as much as 15 million ounces of silver to be processed each year, translating into close to U.S. $2 million a year in operating profits. And further meaningful increases in through-put capacity would obviously ramp-up earnings by even higher multiples, particularly in a rising tide market for precious metals prices.



The Company is also exploring the real possibility of producing a wide range of value-added cobalt products in addition to 99.9% grade “A” cobalt metal – all of which will be processed at Big Creek. Such products include oxides and hydroxides of cobalt used in the lucrative re-chargeable battery sector that is growing at a rapid and accelerating rate.



Why Cobalt?

Now might be a good juncture to discuss cobalt’s increasing importance for 21st century industrial and high-tech needs. Ironically, it’s a metal that many people have never heard of even though the quality of modern-day life relies heavily on it. For instance, it is a vital component in cellular phones, laptop computer batteries, hard disk drives, memory chips and even satellites – the list goes on. Indeed, life itself is even dependent on cobalt as it comprises a central component in vitamin B-12.



It is also increasingly earning a reputation as an “environmental metal” as it is used in fuel cells, solar panels and hybrid automobiles (which require 3-5 pound of cobalt for each battery). Notably, cobalt usage in rechargeable batteries, alone, has shot up nearly 300% in just the last three years. Indeed, cobalt is fast earning a reputation for being the primary source metal for the economic and efficient production of non-polluting “green” energy.



Cobalt also plays a key role in the de-sulfurization of oil in refineries and in GTL (gas to liquid) technologies that produce ultra-clean-burning synthetic diesel fuels. Other “green” industrial uses are increasingly coming on-stream.



In the defense industry, cobalt is also an indispensable component due to its use in high-strength, high-temperature-resistant alloys for fighter jet engines and rocket propulsion systems, among other uses. It is also used in the world of medicine for cancer treatment and prosthetics.



More Idaho Cobalt: The Black Pine Project

Like most well-managed junior mining companies, Formation understands the value of strength through diversification. Accordingly, Formation’s share price is also underpinned by a strong portfolio of secondary projects.



They include the exploration stage Black Pine Project, which is also in the same mining camp as the Idaho Cobalt Project. To date, a total of 200 drill holes spanning over 60,000 feet have delineated a preliminary sulphide resource of 224,673 tons grading a very impressive 4.17% copper, as well 0.013% cobalt and 0.037 oz/ton gold in two zones, alone – namely the Swift East and Trench zones.



A number of other highly prospective zones have also been identified and subjected to preliminary drill testing. Highlights from one zone include a cobalt-rich horizon which assayed 1.133% cobalt, 0.02% copper and 0.056 oz/ton gold over 17.5 feet. Such zones could be considered for future feed for the Idaho Cobalt Project mill. Similarly, another copper-rich mineralized prospect returned values as high as 4.90% copper, 0.164% cobalt and 0.013 oz/ton gold over 9.2 feet.

Extensive drilling has also defined an additional acid soluble copper oxide (nearer surface) resource in the Swift East, Swift West and Trench zones. It contains 1,565,464 tons grading 0.40% copper and 0.017% cobalt.

Likewise, a preliminary resource of 169,214 tons of oxide copper grading 0.98% copper has been calculated for the Jacob zone. These copper oxide resources are amenable to low-cost, solvent extraction-electro-winning (SX-EW) recovery techniques. Preliminary indications suggest a resource as small as two million tons grading 1% copper may be economic given the proximity of the property to infrastructure at the Idaho Cobalt Project.

Mexican Gold Opportunities

The Company also has leveraged exposure to buoyant gold bullion and silver prices. Perhaps the most interesting (to date) of several precious metals projects involving Formation is the 100%-owned El Milagro Project in Tamaulipas State in Mexico. Located 60 kilometres northwest of the city of Tampico, the property hosts several different types of mineralization.



The primary target involves a vein system that boasts bonanza silver grades with a lead-zinc-rich polymetallic assemblage. To date, a 450-metre strike length has been traced, which remains open along strike. Silver values vary from 0.8 to 3.8 kilograms/tonne over four metres with accompanying base metal values ranging from 10.3% to 12.3% lead and 2.8% to 6.8% zinc. The Company is confident of the prospect of unearthing other bulk tonnage vein and stockworks (veinlet) systems on the property.



Tapping Into the Global Uranium Boom

Finally, Formation is involved in two uranium exploration projects in Canada’s Athabasca Basin – home to several of the world’s largest and highest-grade deposits. They include the 30,500-hectare Virgin River Project in the province of Saskatchewan where Formation indirectly owns a 2% interest (with the first right of offer to acquire up to a 10% stake) in a joint venture partnership with the uranium mining powerhouse, UEM Inc., owned equally by Cameco Corporation and Areva Resources Canada Inc.



The operator, Cameco, is hunting for a McArthur River-style deposit. The McArthur River deposit is the world’s largest, high grade uranium deposit with an in-situ value, based on a December 2004 reserve base, of over $U.S. 52 billion.



Exploration highlights to date include the discovery of the Centennial Zone, where a number of high-grade uranium intersections have been encountered, such as 5.58% uranium over 6.2 metres, 6.49% uranium over 5.9 metres and 14.29% uranium over 2.5 metres.



These very positive drill results are the most significant ever encountered in this region in more than 25 years of exploration. Formation is also “carried on” (exempt from contributing to) the first $10 million of exploration costs. A total of 7,000 metres of drilling will be spent on the project this year to test the overall grades and expand the parameters of the Coronation discovery area.



Though Formation has exposure to only a small percentage of this project, this still represents a lucrative opportunity as major uranium deposits are highly prized by the nuclear energy industry. For instance, the gross metal values of the several major uranium deposits in this part of northern Saskatchewan exceeds U.S. $6 billion.



Strong Management is the Key to Success

On a corporate note, the Company’s officers, directors and other members of its management team offer shareholders close to 300 years of combined experience in all areas of the mining business.



They include Chairman and CEO Mari-Ann Green B.A., B.Ed. who is a co-founder of the Company and who benefits from more than two decades of experience in the natural resources industry in the areas of finance, management and corporate development. Among her credits, she has proved very adept as a financier, directly raising approximately Cdn. $50 million for the Company. This includes a $20 million financing that closed in May of this year which is related to mine start-up costs.



She is joined by fellow co-founder and Company President Scott Bending, P. Geo., B.Sc. who has over 20 years of experience in mineral exploration and development in Canada, Mexico and the United States. In particular, he has a proven track record for the evaluation and acquisition of top-tier mineral projects and is considered an expert in his understanding of the cobalt market.



Investment Summary

From a technical perspective, the Company has approximately 200 million shares outstanding (about 225 million fully diluted) as of June 01, 2007. Importantly, approximately 60% of the Company’s equity is held by major financial institutions. Cash and metals inventory are currently worth about U.S. $23.39 million, while the Company has no long-term debt. Meanwhile, Formation just completed a $20 million equity financing in May, providing the Company with a major financial shot in the arm and a resounding endorsement from Canada’s resource-oriented investment community.

.

In closing, Formation is in the process of taking a quantum leap from being a junior mineral exploration company to becoming the Western world’s pre-eminent high-grade cobalt mining and refining company. This scenario promises to offer patient investors a very handsome pay-day, especially since Formation’s share price is still considerably undervalued. Of course, this will not remain the case for much longer.



In fact, the Company’s share price is surely due for a major boost with the imminent completion of its bankable feasibility study, as well as the issuance of its mining permit. Following hard on the heels of these landmark events, the Company’s stock is also poised for a strong rally during the imminent mine construction and start-up phases.



For the balance of this year, SmallCapMedia is therefore confident that Formation’s share price will continue to chart a sustained upwards trajectory. One that will surely gather considerable momentum during what will undoubtedly be a banner year in 2008 – a phenomenon that promises to repeat itself for many years to come.

[MONSIEURCB]

Schön, dass es endlich einen thread zu meinem Schützchen gibt - bin seit längerem mit im Boot! Gruß - Monse

[kommanull]

Hi Monse,

sind grade News zur Uranpropertie (JV mit Cameco )gekommen.
Denke heute gehts weiter rauf.

http://www.stockhouse.ca/news/news.asp?newsid=5601318&tick=F…

[MONSIEURCB]

..und weiter geht's mit guten news:

Press Release Source: Formation Capital Corporation

Formation Capital Corporation: Three of Four Drill Holes Intersect Significant Uranium Values on Virgin River Property
Thursday July 5, 8:00 am ET

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 5, 2007) - Formation Capital Corporation (the "Company") (TSX:FCO - News) is pleased to announce results of the winter 2007 diamond drill program on its Virgin River uranium Project, as provided to the Company by project operator, Cameco Corporation. Significant uranium mineralization consistent with previously released results was intersected in three of four drill holes completed during the winter 2007 program returning grade thicknesses (GT equals %U308 X Interval Thickness) of up to 23.66. The mineralized zone, named the Centennial Zone, now consists of 12 mineralized drill holes. The zone appears to have a very linear trace with apparent minimum strike length of 550 m, is open along strike to the north and south, and has a minimum across strike width of 12 m.

Located within the south-central portion of the Athabasca Basin in northern Saskatchewan, the project is a joint venture formed in 1998 between Formation Capital Corporation's wholly owned Canadian subsidiary, Coronation Mines Ltd. and UEM, jointly owned by Cameco Corporation and by AREVA Resources Canada Inc. Coronation Mines Ltd. owns 2% of the project with a right of first offer to increase its ownership of the project up to 10% and is carried on the project through to $10 million worth of exploration and development.

Prior to the commencement of this year's program, approximately $8.4 million had been spent exploring for a large unconformity-type deposit on the project that has resulted in the discovery of the Centennial Zone. Encouraged with the previous exploration results, the Joint Venture approved a budget of $3.3 million for 2007 to continue exploration of the project, an increase of 65% over last year's budget.

Diamond drilling completed during the winter program consisted of 3 pilot holes (VR-025, VR-026, VR-027) and 1 wedge hole (VR-027W1) totaling a combined 3,170.6 metres. The holes were designed to follow up on the Centennial Zone mineralization intersected during the 2004 - 2006 programs, test the zone's strike extent and grade, and evaluate the importance of a known graphitic conductor located to the east of the mineralization (known as the C conductor). The following table outlines the results of that drilling. The uranium grades reported in the table below are the average geochemical assays derived from inductively coupled plasma (ICP) mass spectrometry and Delayed Neutron Count methods.


-------------------------------------------------------------------
True Maximum Average
Drill Hole From To Thickness Grade Grade GT
Winter 2007 (m) (m) (m) (%U3O8) (%U3O8) (m x %)
-------------------------------------------------------------------
-------------------------------------------------------------------
DDH VR-027W1 808.0 818.8 10.8 9.47 2.191 23.66
-------------------------------------------------------------------
(includes) 811.8 818.1 6.3 9.47 3.188 20.08
-------------------------------------------------------------------
(includes) 816.2 818.1 1.9 9.47 5.444 10.34
-------------------------------------------------------------------
-------------------------------------------------------------------
DDH VR-027 800.9 816.6 15.7 2.98 0.692 10.86
-------------------------------------------------------------------
(includes) 812.6 815.5 2.9 2.98 1.920 5.57
-------------------------------------------------------------------
-------------------------------------------------------------------
DDH VR-026 738.2 743.3 5.1 0.60 0.254 1.30
-------------------------------------------------------------------
(includes) 740.2 743.3 3.1 0.60 0.362 1.12
-------------------------------------------------------------------


Hole VR-027W1, an offset wedge hole targeting the unconformity west of VR-027 drilled on L11N, intersected high-grade uranium mineralization averaging 2.191% U308 over 10.8 m from 808.0 to 818.8 metres, that included a subinterval of 5.44% U308 over 1.9 m from 816.2 to 818.1 metres.

Hole VR-027, drilled on L11N to test a possible gap in the mineralization west of VR023, also encountered sandstone-hosted mineralization that averaged 0.692% U308 over 15.7 metres from 800.9 to 816.6 metres.

Hole VR-026, drilled along strike of the Zone to the north on L13N, encountered sandstone-hosted uranium mineralization between 738.2 and 743.3 metres grading an average 0.254% U3O8 over 5.1 metres.

Hole VR-025 was drilled to test the interpreted western boundary of the graphitic pelitic rocks intersected in historic Uranerz hole VR-04, east of the Centennial Zone. This hole failed to encounter uranium mineralization, or graphitic rocks but did determine that an unconformity offset of approximately 35 m occurs east of the Centennial Zone.

In addition to the diamond drilling, a 24 km, 5 line tandem moving loop TEM geophysical survey was completed on the project to further define the previously outlined C conductor. The C conductor has now successfully been defined at a nominal 200 m spacing from L18N to L6S, with the exception of a small section where 300 m line spacing was used. The final interpretation of the geophysical data is ongoing.

The plan is to continue exploration and diamond drilling this summer to test for the presence of higher grade mineralization just to the grid west of mineralization intersection in VR-027W1, continue to trace the Centennial Zone along strike to the north of L13+00N, continue to trace the Centennial Zone along strike to the south into the resistivity low "breach" south of L7+00N, and to test the potential expansion of the secondary uranium zone indicated by VR-023 on L11+00N. An additional 3 to 4 pilot holes and 2 to 3 wedge holes are planned totaling approximately 4,000 metres. In addition, a 12.5 km DC resistivity geophysical survey is planned over the Centennial Zone "breach".

All uranium assays were carried out by the Saskatchewan Research Council (SRC) of Saskatoon, Saskatchewan. Mr. Eric (Rick) Honsinger, P.Geo., of Formation Capital Corporation is the Qualified Person who has reviewed and approved the content of this news release based on an examination of the data submitted to the Company by the project operator Cameco Corporation. A location map of the project and drill hole location plan map is available on the Company's website at http://www.formcap.com/. Formation Capital Corporation is very pleased with the results of the winter 2007 program and looks forward to the continuation of drilling this summer.

Formation Capital Corporation is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist.

Formation Capital Corporation trades on the Toronto Stock Exchange under the symbol FCO.

Formation Capital Corporation

Mari-Ann Green, C.E.O.

[kommanull]

Antwort auf Beitrag Nr.: 30.498.278 von kommanull am 05.07.07 06:29:29

http://www.stockhouse.ca/news/news.asp?newsid=5602773&tick=F…

dürfte heute wieder grün werden

,0

[MONSIEURCB]

Hier der Text im Wortlaut:

On Thursday July 5th, 2007, Formation Capital Corporation released news to investors, announcing results of the winter 2007 diamond drill program on its Virgin River uranium Project, as provided to the Company by project operator, Cameco Corporation. Significant uranium mineralization consistent with previously released results was intersected in three of four drill holes completed during the winter 2007 program returning grade thicknesses (GT equals %U308 X Interval Thickness) of up to 23.66. The mineralized zone, named the Centennial Zone, now consists of 12 mineralized drill holes. The zone appears to have a very linear trace with apparent minimum strike length of 550 m, is open along strike to the north and south, and has a minimum across strike width of 12 m.

Located within the south-central portion of the Athabasca Basin in northern Saskatchewan, the project is a joint venture formed in 1998 between Formation Capital Corporation's wholly owned Canadian subsidiary, Coronation Mines Ltd. and UEM, jointly owned by Cameco Corporation and by AREVA Resources Canada Inc. Coronation Mines Ltd. owns 2% of the project with a right of first offer to increase its ownership of the project up to 10% and is carried on the project through to $10 million worth of exploration and development.

Prior to the commencement of this year's program, approximately $8.4 million had been spent exploring for a large unconformity-type deposit on the project that has resulted in the discovery of the Centennial Zone. Encouraged with the previous exploration results, the Joint Venture approved a budget of $3.3 million for 2007 to continue exploration of the project, an increase of 65% over last year's budget.

Diamond drilling completed during the winter program consisted of 3 pilot holes (VR-025, VR-026, VR-027) and 1 wedge hole (VR-027W1) totaling a combined 3,170.6 metres. The holes were designed to follow up on the Centennial Zone mineralization intersected during the 2004 - 2006 programs, test the zone's strike extent and grade, and evaluate the importance of a known graphitic conductor located to the east of the mineralization (known as the C conductor). The following table outlines the results of that drilling. The uranium grades reported in the table below are the average geochemical assays derived from inductively coupled plasma (ICP) mass spectrometry and Delayed Neutron Count methods.

In addition to the diamond drilling, a 24 km, 5 line tandem moving loop TEM geophysical survey was completed on the project to further define the previously outlined C conductor. The C conductor has now successfully been defined at a nominal 200 m spacing from L18N to L6S, with the exception of a small section where 300 m line spacing was used. The final interpretation of the geophysical data is ongoing.

The plan is to continue exploration and diamond drilling this summer to test for the presence of higher grade mineralization just to the grid west of mineralization intersection in VR-027W1, continue to trace the Centennial Zone along strike to the north of L13+00N, continue to trace the Centennial Zone along strike to the south into the resistivity low "breach" south of L7+00N, and to test the potential expansion of the secondary uranium zone indicated by VR-023 on L11+00N. An additional 3 to 4 pilot holes and 2 to 3 wedge holes are planned totaling approximately 4,000 metres. In addition, a 12.5 km DC resistivity geophysical survey is planned over the Centennial Zone "breach".

Formation Capital Corporation is a well established, mineral exploration, development and refining company led by a highly qualified technical team of geologists, permitting specialists, mining engineers and administrative personnel. Formation Capital, through its wholly owned subsidiaries, has interests in base, precious metal and uranium projects in Canada, the United States and Mexico.

[kommanull]

News sollten bald kommen, aus einem canada Forum:

SUBJECT: I contacted FCO today. Posted By: broacher
Post Time: 7/18/2007 14:04
« Previous Message Next Message »

Here's an email I sent to FCO today, as well as their response.

Hi, I am a shareholder in FCO and like many others, I am curious about the status of the FBS. I also have concerns regarding the Blackbird Mine site group and how they might affect the project going forward. I realize you are very busy but I was hoping you could respond to the status of these situations. Thanks.


The Feasibility Study should be complete any time now...it's in the final stages. But, it is not our document so we don't know exactly when it will be delivered. There many people and many firms involved in producing the study and it must be finalized and signed off by each. I personally feel it will be out by the end of next week.
As far as the Blackbird Minesite Group goes, this is a discussion...too much to convey in an email. Having said that we do not believe (with good reason) that they have a legal leg to stand on. It would appear that they are merely using Formation's project to be released from their own, ongoing liabilities.
The best person to talk to about this would be Rick Honsinger 604 682-6229 ext. 2
I would be happy to discuss it or anything else with you as well.

Peter

Peter Genge
604 630-0770
877 566-6592 toll fre

,0

[kommanull]

jetzt kanns ja losgehn, ich hab da was rot makiert das solltet ihr euch mal ansehen!!!

,0


Press Release Source: Formation Capital Corporation


Formation Capital Corporation: Feasibility Study Signals Green Light for Idaho Cobalt Project
Tuesday July 31, 8:00 am ET


VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 31, 2007) - Formation Capital Corporation (Formation) (TSX:FCO - News; the "Company") is pleased to announce the results of the recently completed feasibility study on the Company's 100% owned Idaho Cobalt Project (ICP) and its 100% owned hydrometallurgical facility. The feasibility study covers only the Ram deposit on the ICP although additional resources have been identified on the property's 2,874 acres.
ADVERTISEMENT


Scott Bending, President of Formation Capital, said, "We are pleased to present the feasibility study which is an important milestone for us. The main reason we commissioned the study was to determine the feasibility of producing very high purity cobalt metal commonly known as super alloy grade. The successful implementation of the ICP will make Formation Capital the largest intergraded producer of super alloy cobalt metal in the western hemisphere and the second largest in the world."

The result of the feasibility study is positive, and Samuel Engineering, Inc. recommends continuing the detailed engineering which commenced at risk, in April 2007. The detailed engineering commenced "at risk" since a Record of Decision to be issued by the United States Forest Service is not expected until late September or early October. Engineering and Procurement will be conducted by Samuel Engineering with Construction Management under the joint direction of Samuel Engineering and MTB Project Management Professionals, Inc.

The study was completed by Samuel Engineering, and Richard Kunter is the qualified person in accordance with the requirements described in National Instrument NI 43-101 Standards of Disclosure for Mineral Projects. The feasibility study is based on Mine Development Associates updated Geology and Mineral Resource Estimate for the Ram deposit prepared by Mr. Neil Prenn, P. Eng. (received October 2006), who is the qualified person in accordance with NI 43-101.

Highlights of the Feasibility Study (reported in US$):

- The base-case NPV with a discount rate of 7.50% is shown in the table below. The payback is estimated at approximately 44 months.



----------------------------------------------------------------
Discount Rate 0% 5% 7.50% 10%
NPV ($/millions) 202.73 117.06 87.29 63.63
----------------------------------------------------------------


- The base case IRR is shown in the table below.



--------------------------------------------------------------------
Cobalt Metal Price -10% 0% 10% 20%
Cobalt Metal Price ($/pound) $ 20.27 $ 22.52 $ 24.77 $ 27.02
NPV ($ millions) 51.14 87.29 123.44 159.60
IRR (%) 16.52% 22.30% 27.78% 33.04%
--------------------------------------------------------------------


Note: At current metal prices using the economic model developed for the feasibility study, the Company notes that the NPV discounted at 7.50% would be $191,896,832 with an IRR of 38.02%. Undiscounted the NPV would be $372,394,635.

- Average operating cost per pound of Cobalt metal is $7.73



---------------------------------------------------------------------------
Total Operating cost Operating Cost Average Cost per Pound Co
Hydrometallurgical Facility $ 86,068,293 $ 3.27
Mine and Mill $ 186,053,789 $ 7.07
Total Operating Cost $ 272,122,082 $ 10.34
Operating Cost less Cash
Credits $ 203,566,107 $ 7.73
---------------------------------------------------------------------------
Mine and Mill Operating Cost Operating Cost Average Cost per Ton of Ore
$ 186,053,789 $ 70.39
---------------------------------------------------------------------------


- Average annual Net Cash Flow $34,162,100



---------------------------------------------------------------------------
SUMMARY ECONOMIC PERFORMANCE

Unit Life of
(000) Mine 1 2 3 4 5
Mine Output
Annual ore production ton 2,643 208 281 285 285 286
---------------------------------------------------------------------------

Revenues
Copper anodes US$ 65,674 8,679 10,785 10,949 7,194 6,505
Cobalt rounds for sale US$ 592,927 62,869 75,861 76,787 59,164 51,985
Magnesium Sulfate US$ 2,881 306 369 373 288 253
Total US$ 661,483 71,853 87,015 88,110 66,645 58,744
---------------------------------------------------------------------------

Cash Production Costs US$ 272,122 27,930 29,471 28,908 26,817 26,979

Capital Investment US$ 186,632 10,682 19,751 4,219 7,083 1,695

Net Cash Flow US$ 202,729 33,241 37,792 54,982 32,744 30,070
---------------------------------------------------------------------------

---------------------------------------------------------------------------
Unit Life of
(000) Mine 6 7 8 9 10
Mine Output
Annual ore production ton 2,643 285 282 285 281 166
---------------------------------------------------------------------------
Revenues
Copper anodes US$ 65,674 5,416 4,619 5,122 3,827 2,579
Cobalt rounds for sale US$ 592,927 52,183 60,315 58,706 58,559 36,497
Magnesium Sulfate US$ 2,881 254 293 285 285 177
Total US$ 661,483 57,853 65,227 64,113 62,670 39,254
---------------------------------------------------------------------------

Cash Production Costs US$ 272,122 28,352 29,479 27,652 28,855 17,678

Capital Investment US$ 186,632 239 95 394 95 3,484

Net Cash Flow US$ 202,729 29,262 35,652 36,067 33,720 18,091
---------------------------------------------------------------------------


Note: Life of Mine totals for Capital Investment and Net Cash Flow include expenditures in pre-production years.

- Total estimated cost to construct and commission both facilities is $138.7 million.



----------------------------------------------------------
Area/Description (Mine and Concentrator) Total ($M)
----------------------------------------------------------
Direct Costs 37.6
Indirect Costs 13.2
Owner's Cost 16.1
Subtotal 66.9
Contingency 8.1
Total Capital Cost 75.0
----------------------------------------------------------

----------------------------------------------------------
Area/Description (Cobalt facility) Total ($M)
----------------------------------------------------------
Direct Costs 40.5
Indirect Costs 14.1
Owner's Cost 3.1
Subtotal 57.7
Contingency 6.0
Total Capital Cost 63.7
----------------------------------------------------------


- Proven and probable mineral reserves: 2,636,200 tons with an average grade of 0.559% cobalt, 0.596% copper and 0.014 oz per ton gold, based on a cut off grade of 0.2% cobalt for a ten year mine life.



Average annual production for the first four years of production
Cobalt rounds 1,525 tons
Copper anodes 2,044 tons

-------------------------------------------------------------------------
Proven and Probable Idaho Cobalt Reserves
-------------------------------------------------------------------------
Ram Proven Reserves
-------------------------------------------------------------------------
True
000s oz Width Thick %
Horizon Tons % Co % Cu Au/ton (feet) (feet) Dilution
-------------------------------------------------------------------------
3010 60.6 0.463 0.020 0.005 10.5 8.6 27.4
3011 33.9 0.369 0.192 0.007 10.3 8.4 22.6
3012 92.7 0.582 0.501 0.008 8.3 6.8 29.3
3013 49.5 0.665 0.323 0.013 7.6 6.2 32.7
3021 174.9 0.374 0.538 0.015 10.9 9.0 21.5
3022 341.7 0.510 0.503 0.013 11.0 9.0 21.2
3023 904.1 0.624 0.705 0.017 16.0 13.1 19.3
3032 70.2 0.420 0.663 0.006 8.8 7.2 28.2
3035 30.3 0.503 0.116 0.009 9.9 8.1 24.1
Totals 1,757.8 0.555 0.583 0.014 13.2 10.8 21.5
-------------------------------------------------------------------------
Ram Probable Reserves
-------------------------------------------------------------------------
3010 6.7 0.348 0.016 0.003 10.0 8.2 22.5
3011 7.3 0.370 0.188 0.007 10.2 8.3 22.4
3012 11.8 0.229 1.836 0.009 8.1 6.6 29.7
3013 21.3 1.106 0.124 0.016 8.1 6.7 30.1
3021 3.4 0.504 0.856 0.018 8.7 7.1 26.9
3022 161.3 0.541 0.440 0.012 11.1 9.1 20.7
3023 657.6 0.560 0.673 0.016 15.8 13.0 18.2
3032 9.1 0.878 0.432 0.015 8.8 7.2 27.5
3035
Totals 878.3 0.566 0.622 0.015 14.5 11.9 19.3
-------------------------------------------------------------------------
Ram Proven + Probable Reserves
-------------------------------------------------------------------------
Totals 2,636.2 0.559 0.596 0.014 13.6 11.2 20.8
-------------------------------------------------------------------------


Note: The inferred resource for the ICP, not a part of this study, is 1,121,600 tons grading 0.585% cobalt, 0.794% copper and 0.017 oz per ton gold as reported in the October 2006 MDA report mentioned above.

Opportunities:

There are significant opportunities to improve the economics of the ICP by expansion of the geologic resources and through product marketing and metals production.

- There is excellent potential to expand the Ram proven and probable ore reserve with additional drilling in inferred zones and step-out drilling. In this study internal blocks of inferred material totaling 81,700 tons are presently being sent to the waste disposal facility due to NI 43-101 reporting requirements. As is common in underground mines however, additional drilling from underground stations may allow for this material to be reclassified as ore. Additional ore reserves of the wider, higher-grade zones encountered in the south portion of the Ram can be expected to persist at depth as well as continue to the south and the ram ore body remains open to the north as well as at depth.

- There is potential for an additional revenue stream from the recovery of rare earth minerals. Samples confirm the presence of anomalous rare earth elements plus yttrium values.

- There is good potential to expand the proven and probable ore reserve through continued exploration of the Sunshine and East Sunshine deposits as well as 15 other identified Greenfield areas on the property which are not included in this study.

- There is the potential for an additional revenue stream from the recovery of gold from the flotation concentrate. The presence of gold in the ore body is clearly documented and the majority of the gold reports to the concentrate. However, tracking of the gold species throughout the subsequent hydrometallurgical testing has been inconclusive and therefore is not part of the revenue stream in this study. It is expected that during the initial stages of commercial operation the deportment of gold can be determined and a suitable recovery process can be designed and installed.

- An in-depth marketing analysis of magnesium sulfate should improve the sale price and improve revenue generation.

- There is potential for additional revenue streams from the production of by-products from the cobalt refinery such as saleable zinc residue and nickel hydroxide. This would eliminate the requirement for disposal of these streams in the current design.

- Mining methods may be modified and operating costs may be reduced improving NPV and IRR and Capital costs may be reduced during detailed engineering and finalization of the water treatment.
General Model Criteria


---------------------------------------------------------------------------
Description Values
---------------------------------------------------------------------------
Construction Period (including Preproduction) 14 Months
Mine Life (after Preproduction) 10 years
LoM Ore Tonnage (millions) 2.643
LoM Cobalt Grade (% Co) 0.558
Target Mill Production Rate: Years 1-10 800 tpd
Target Average Hydromet Production
Rate (cobalt): 1,316 tpy
Cobalt Average Price (U.S.$/lb) $22.52
Copper Average Price (U.S.$/lb) $2.30
Magnesium sulfate price (U.S.$/lb) $0.0091
Cost Basis 4th Quarter 2006
Currency US$ unless otherwise stated
Inflation/Currency Fluctuation None
Leverage 100% Equity
Income Tax Pre-tax
---------------------------------------------------------------------------


Note: The base case cobalt and copper price was determined using the average price for the three years preceding this study and the projected cobalt and copper price for the two years subsequent to this study.

Mine and Processing Facilities

Portal Facilities

A level pad on the 7,060 elevation will be developed for the portal to the Ram deposit and related facilities. The facilities on the Ram portal pad will include a shop, two containers for parts storage, a laydown area, and a power transformer. A second pad will be constructed about 40 feet below the portal pad at the 7,020 elevation. It will include the mine offices and facilities for the aerial tram. Waste and ore hoppers are located in the north portion of the portal pad area.

Concentrator

The concentrator is a typical froth flotation recovery plant. It uses two stages of crushing and one stage of grinding for size reduction prior to flotation in a simple rougher/cleaner flotation circuit. The crushing and concentrator facilities are housed in two separate Sprung® structures. An overhead tramway delivers ore and waste rock from the mine to the processing area.

Water Treatment

An important part of the processing operations at the mine site is the water treatment plant. Water that originates from mine dewatering, processing and drainage from the tailings and waste rock storage facility is collected, contained and treated for reuse or disposal, depending on operating requirements.

Tailings and Waste Rock Disposal

A single surface disposal facility is used to store both the tailings from the concentrator and the waste rock material. This facility serves to minimize the area of disturbance by sharing containment and drainage collection facilities while providing storage for these materials. The facility covers an area of approximately 36 acres and includes a geomembrane liner system with drainage collection. Surface runoff is diverted around the operating areas of the facility. Collection, conveyance and storage systems are included to manage runoff and seepage.

Big Creek Hydrometallurgical Facility

The hydrometallurgical plant, located in Kellogg, ID, is a sophisticated processing facility that uses a complex series of processes to produce a number of products. The existing Kellogg hydrometallurgical facilities include a concentrate storage facility located near the truck scale and various other storage facilities located near the refinery. Also, there are offices and change facilities existing within the silver refinery building. Additional office space for the increased staff is provided by modular office trailers located on the south side of the cobalt refinery building.

Reserves

Formation defined two areas of Co-Cu-Au mineralization, referred to as Sunshine and Ram, through drilling that was started in 1995. Formation drilled 152 holes, for a total of 98,439 feet, and an additional 32 holes were drilled by previous companies. In all, the database contains 184 holes totaling 123,212.5 feet. The data from the drilling defines mineralization in multiple, subparallel zones of Co-Cu-Au mineralization that are stratiform in nature. The multiple subparallel zones, or horizons, comprise the Sunshine and Ram deposits. The larger Ram Deposit consists of five hanging-wall horizons, a main zone composed of three horizons, and three footwall horizons. The Ram main zone horizons, which are the most extensive, are open to the north, south and at depth. Recent drilling has concentrated on developing the 3023 horizon to the south, where thicker and higher grade mineralization has been found. It is still open to the south and below the current drilling level. The subparallel horizons generally strike N15 degrees W and dip 50-60 degrees to the northeast. They have been drill tested to depths of 1,200 feet vertically and over a strike length of 2,000 to 3,000 feet. The Sunshine deposit is not included in this study.

Mining Overview

The Ram deposit will be mined by underground methods, using mechanized cut-and-fill methods for narrower stopes, and longhole stoping (end slicing) for the thicker portions of the deposit. The southern one-third of the 3023 horizon can be mined by end-slicing if the portions of the footwall that dip at angles less than 55 degrees are steepened.

Once the working level of the stope has been mined, it will be filled by paste backfill material that is fortified with two- to four-percent cement. The fill material will be in the form of a paste made from dewatered mill tailings. The paste will be piped from the paste plant located near the process plant and distributed down mine vent raises or drill holes into the mine paste distribution system.

The Ram deposit is accessed by a decline that has a 13- by 15-foot cross section. The decline serves as the main access and haulage way for the deposit. Mined material is transported up the main decline to the portal pad where it is loaded into an aerial tramway for transport to the plant site.

Concentrate Metallurgical Testwork

Production of a bulk concentrate is based on mineral processing work conducted by The Center for Advanced Mineral and Metallurgical Processing (CAMP) on a composite from Ram deposit, and confirmed by metallurgical testwork completed by SGS Lakefield Research (Lakefield) on several composites from both RAM and Sunshine deposits during a 2005 testing program that was conducted in support of the Feasibility Study. The testwork included comprehensive milling and flotation optimization testing using the bulk material from the Ram samples.

The projected recoveries from the locked-cycle tests, based on CAMP and SGS Lakefield test programs, indicate approximately 92.8 percent cobalt recovery and approximately 94.7 percent copper recovery. The bulk concentrate is not difficult to make. The SGS Lakefield cobalt and copper extraction was used in the study. Current plans call for the production of one bulk sulfide concentrate that contains cobalt, copper and gold. Further processing for recovery of the individual metals will be accomplished at a hydrometallurgical treatment plant. The feasibility study includes the engineering required to complete modifications to the hydrometallurgical plant so that cobalt and copper can be recovered from the bulk concentrate.

Hydrometallurgical Plant Testwork

CAMP performed leach and flowsheet development for the prefeasibility study. The work demonstrated that the nitrogen species-catalyzed leach is effective. In addition a preliminary batch test program was carried out at SGS Lakefield to evaluate the response of the ICP copper-cobalt concentrate to the nitrogen species-catalyzed process. Under the proper conditions, cobalt and copper extractions during NSC were in excess of 99 percent for cobalt and 93.4 percent for copper.

Formation commissioned Mintek to do a mini-plant campaign to test the recovery of copper and cobalt from a flotation concentrate for the ICP. The samples were blended into classes of material prior to blending all of the available material for feed to the autoclave as part of the mini-plant campaign.

Based on the initial Idaho mini-plant results, additional testing was conducted. These tests are ongoing and include simulation of continuous autoclave operation with flash cooling, optimization of acid use, better understanding of gold disposition and gold recovery methods, improved arsenic removal, and reduction of the number of unit operations by combining steps.

Continuous autoclave operation incorporating nitrogen species as a catalyst and continuous flash cooling has significant advantages. The leach retention time is extended while throughput is increased, operations are simplified and a continuous source of steam is produced for use in other unit operations. Details of the process are not presented in the feasibility study as the process is proprietary and is currently in the patent process.

Execution Plan and Schedule

Formation intends to proceed with development on an at-risk basis prior to receiving financing based on this feasibility study. The at-risk portion of development will include detailed engineering and long-lead equipment procurement.

Upon resolution of the Forest Service's Record of Decision appeals, project financing, the placement of bonding requirements and the receipt of an Implementation Decision, Formation intends to commence site access and construction.

Based on current assumptions and schedule analysis, mine development will begin in late 2007 or early 2008, processing operations will commence in late 2008 or early 2009, and operations at the hydrometallurgical plant will commence in early 2009.

The following assumptions, qualifications and clarifications apply to the mine development schedule:

Access to the mine and concentrator site will be available late 2007 or early 2008;

Adequate levels of construction management staff, supervision and skilled craftsmen will be available at the time of the scheduled construction;

Adequate construction equipment and fuel will be readily available.

Contingency Analysis

The project contingency is defined as an allowance for unforeseen elements of cost within the defined project scope. As such, it is a sum included in the cost estimate to cover events or incidents that will probably occur during the course of the project, but which at the time of estimate preparation are not quantifiable. The project team evaluated the contingency allowance by considering possible ranges of cost uncertainties for various elements of the estimate.

After inclusion of the recommended contingency, the capital cost estimate is considered to have a level of accuracy with confidence ranges of minus 3.8 percent to plus 12.2 percent for the mill and concentrator and minus 5.3 percent to plus 10.45 percent for the hydrometallurgical facility.

Study Participants

The feasibility study was completed by Samuel Engineering. The report was initiated by referencing the previous feasibility work that was performed by MTB Project Management Professionals, Inc., Hatch, Mine Development Associates, Telesto Solutions, Inc., and MineFill Services, Inc. Additional metallurgical testing and flowsheet development services that were performed during the study were coordinated by Hydromet Pty, Ltd. and Formation. All disciplines involved in the previous work were commissioned to review and update the project documentation. In October 2006, representatives of Samuel Engineering and MTB Project Management Professionals visited the sites.

A feasibility study is a comprehensive analysis of a project's economics and is used by the banking industry for financing purposes. Mr. Mike Irish, Manager of Metallurgy, P. Eng., M.S. Met. Eng. is the Qualified Person who has reviewed and approved the contents of this release.

Formation Capital Corporation is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. The Company trades on the Toronto Stock Exchange under the symbol FCO.

Formation Capital Corporation

Mari-Ann Green, C.E.O.

The statements contained in this news release in regard to Formation Capital Corporation that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Formation Capital Corporation's beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate, commodity price and marketplace changes.


Contact:
Mari-Ann Green
Formation Capital Corporation
C.E.O.
[phone]
[phone] (FAX)
Email: [e-mail]
Website: www.formcap.com

Investor Relations
Encompass Communications
Toll Free: 1-877

[euwegs00]

die Reaktion heute ist unverständlich. Top-Ergebnisse, Top-Potenzial, Top-Bewertung ... die Aktie verliert 7%. Sell on good News!? Ich habe nachgekauft...

[euwegs00]

was ist denn los -15%??? die machbarkeitsstudie ist gut ausgefallen. wo ist das problem???

[aurarius]

ich such auch schon die ganze zeit. nur finden tu ich nix. ich hab langsam das gefühl, das die panik des einen die freude des anderen sein könnte. immerhin, sollte ich nicht falsch hingeschaut haben, haben die letzten zwei tage bei den holzfällern 3,5 milliarden stücke den besitzter gewechselt. mischen da grössere mit? aber halt nur ne meinung. meine nerven haltens noch aus. ich such mal weiter.

[aurarius]

schmarrn getippt : sind natürlich millionen, nicht milliarden.

[euwegs00]

Antwort auf Beitrag Nr.: 30.970.009 von aurarius am 01.08.07 17:42:18

in den letzten 3 Tagen sind in Kanada über 800 MILLIONEN Stück gehandelt worden! Die Reaktion auf die Veröffentlichung der Studie ist völlig unverständlich, ich denke Material Change Report hat den Preisverfall ausgelöst. Vielelicht haben einige mit NPV>150 Mio. USD gerechnet (die Schätzung ist konservativ!)? Oder aber kommt bald ein Übernahmeangebot (Kobalt ist heiss!) und man möchte gerne zu niedrigeren Preisen rein ...

[euwegs00]

Antwort auf Beitrag Nr.: 31.000.959 von euwegs00 am 03.08.07 11:22:26

sorry 8 Millionen

[MONSIEURCB]

Press Release Source: Formation Capital Corporation

Formation Capital Orders Ball Mill Equipment for Idaho Cobalt Project
Thursday September 6, 3:31 pm ET

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2007) - Formation Capital Corporation (Formation) (TSX:FCO - News; the "Company") is pleased to announce that, through Samuel Engineering, Inc., who is acting as the Engineering and Procurement contractor for Formation Capital Corporation, U.S., it has ordered ball mill equipment for its 100% Idaho Cobalt Project. Delivery is scheduled for next summer.

More specifically, Formation Capital Corporation U.S., has completed a purchase order to acquire an Outotec 2.9 metre (9.5 foot) diameter Direct Drive Ball Mill, with an overflow discharge design and a 4.9 metre (16 foot) effective grinding length rated at 560 kW (750 HP). The promised delivery date is July 4, 2008. Upon acceptance of the completed purchase order, a down payment was made to secure delivery.

The purchase order outlines the minimum requirements for the design, materials, fabrication, inspection, testing and supply of the ball mill in accordance with the specifications outlined in the Company's recently completed Bankable Feasibility Study on the Idaho Cobalt Project. The equipment will be used to process primary cobalt ore at a production rate of 800 tons per day at the Idaho Cobalt Project located near Salmon, Idaho. Concentrate from the mine will be shipped to the Company's 100% owned hydrometallurgical facility in northern Idaho for processing into high purity, critical application, superalloy grade cobalt metal at a design rate of approximately 1525 tons per year over a minimum 10 year mine life. Construction is scheduled to commence in Q1 2008, with production slated for Q1 2009.

Management would like to take this opportunity to update its shareholders and interested parties on some current developments in the cobalt market. Significantly, Credit Suisse announced September 05, 2007 that it has opened a trading market in cobalt metal to investors seeking a commodity contract that won't be buffeted by turbulence in other financial markets. The bank has forecast that cobalt prices could spike to $40 per lb by the end of this year. Recent conflicts in the Democratic Republic of Congo have added additional uncertainty to future supplies. More information can be found on the Company's website www.formcap.com under Investor Info - Cobalt News.

In light of recent disruptions in global credit markets, the Company is also informing its shareholders that it has no exposure to asset backed commercial paper and that the Company's cash and equivalents are readily available on demand to fund the Idaho Cobalt and other projects.

Formation Capital Corporation is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. The Company trades on the Toronto Stock Exchange under the symbol FCO.

Formation Capital Corporation

Mari-Ann Green, C.E.O.

[MONSIEURCB]

Press Release Source: Formation Capital Corporation

Engineering & Procurement Progressing Well on Formation's Idaho Cobalt Project
Thursday November 15, 3:39 pm ET

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2007) - Formation Capital Corporation (the "Company") (TSX:FCO - News) is pleased to provide its shareholders with an update of the status on the engineering and procurement of its 100% owned Idaho Cobalt Project. While the permitting agencies for the Cobalt Project are progressing through the National Environmental Policy Act process, the Company has been aggressively engaged in the engineering and procurement of key equipment and personnel in preparation for the commencement of construction and ultimately, production.

ADVERTISEMENT
In preparation for the receipt of mining and milling components, as well as providing an efficient staging area for the off-loading of mine concentrate for transportation to the Company's hydrometallurgical facility located in Kellogg Idaho, the Company has purchased an industrial facility on the outskirts of Salmon, Idaho. The 9,600 square foot facility is ideally located on a 3 acre lot in a Highway Commercial Zoning Area off of paved Highway 93 South. The metal building is completely insulated and has underground power service, four large overhead door loading and unloading bays strategically located with highway frontage. The Company reviewed numerous prospective industrial real estate properties and was very pleased to secure this first choice facility.

In addition, in preparation for the need to secure quality key personnel to oversee the construction and implementation of the Idaho Cobalt Project, the Company is pleased to announce it has hired Ms. Susan Shiplett to fulfill the role of Human Resources Director. Ms. Shiplett holds a Bachelor of Science degree in Management from Lewis-Clark State College. She most recently worked as a consultant for the Idaho Industrial Commission, Rehabilitation Division and previously held positions with Sunshine Mining and Refining Company as Human Resources Manager, Human Resources Specialist, Employee Relations & Office Manager, and Staff Payroll Accountant. The Company is currently in the process of interviewing for key positions such as General Mine Manager, Mine Superintendent and Mill Superintendent, while positions for an Environmental Coordinator, HR Manager and Controller for the Salmon, Idaho operations have been secured. Additional staff and training at the refinery has also been completed to accommodate its growing silver refining operation.

The streamlining of administrative procedures is also being performed in order to efficiently control and manage the implementation of numerous mine construction contracts and subcontracts associated with engineering and procurement of the Idaho Cobalt Project and the retro-fitting of the hydrometallurgical facility. Such measures include modifications to accounting and document control procedures as well as the implementation of risk management and IT controls.

Formation Capital Corporation is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. The Company trades on the Toronto Stock Exchange under the symbol FCO.

Formation Capital Corporation

Mari-Ann Green, C.E.O.

[MONSIEURCB]

Und nochmal neu...

Press Release Source: Formation Capital Corporation

Retransmission: Engineering & Procurement Progressing Well on Formation's Idaho Cobalt Project
Friday November 16, 9:00 am ET

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2007) - Formation Capital Corporation (the "Company") (TSX:FCO - News) is pleased to provide its shareholders with an update of the status on the engineering and procurement of its 100% owned Idaho Cobalt Project. While the permitting agencies for the Cobalt Project are progressing through the National Environmental Policy Act process, the Company has been aggressively engaged in the engineering and procurement of key equipment and personnel in preparation for the commencement of construction and ultimately, production.

In preparation for the receipt of mining and milling components, as well as providing an efficient staging area for the off-loading of mine concentrate for transportation to the Company's hydrometallurgical facility located in Kellogg Idaho, the Company has purchased an industrial facility on the outskirts of Salmon, Idaho. The 9,600 square foot facility is ideally located on a 3 acre lot in a Highway Commercial Zoning Area off of paved Highway 93 South. The metal building is completely insulated and has underground power service, four large overhead door loading and unloading bays strategically located with highway frontage. The Company reviewed numerous prospective industrial real estate properties and was very pleased to secure this first choice facility.

In addition, in preparation for the need to secure quality key personnel to oversee the construction and implementation of the Idaho Cobalt Project, the Company is pleased to announce it has hired Ms. Susan Shiplett to fulfill the role of Human Resources Director. Ms. Shiplett holds a Bachelor of Science degree in Management from Lewis-Clark State College. She most recently worked as a consultant for the Idaho Industrial Commission, Rehabilitation Division and previously held positions with Sunshine Mining and Refining Company as Human Resources Manager, Human Resources Specialist, Employee Relations & Office Manager, and Staff Payroll Accountant. The Company is currently in the process of interviewing for key positions such as General Mine Manager, Mine Superintendent and Mill Superintendent, while positions for an Environmental Coordinator, HR Manager and Controller for the Salmon, Idaho operations have been secured. Additional staff and training at the refinery has also been completed to accommodate its growing silver refining operation.

The streamlining of administrative procedures is also being performed in order to efficiently control and manage the implementation of numerous mine construction contracts and subcontracts associated with engineering and procurement of the Idaho Cobalt Project and the retro-fitting of the hydrometallurgical facility. Such measures include modifications to accounting and document control procedures as well as the implementation of risk management and IT controls.

Formation Capital Corporation is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. The Company trades on the Toronto Stock Exchange under the symbol FCO.

Formation Capital Corporation

Mari-Ann Green, C.E.O.

[hans220]

Antwort auf Beitrag Nr.: 32.453.057 von MONSIEURCB am 16.11.07 15:04:41

Hab noch nie solch nen soliden Infoflow erlebt
Sack starke Bude

[Popeye82]

[MONSIEURCB]

W O W !!!!!!!

Press Release Source: Formation Capital Corporation

Formation Capital Corporation: Highest Grade Uranium Mineralization Encountered to Date on Virgin River
Friday December 14, 8:00 am ET

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 14, 2007) - Formation Capital Corporation (the "Company") (TSX:FCO - News) is pleased to provide its shareholders and interested parties with an update on its Virgin River Uranium Project, as provided to the Company by project operator, Cameco Corporation. Located within the south-central portion of the Athabasca Basin in northern Saskatchewan, the project is a joint venture formed in 1998 between Formation Capital Corporation's wholly owned Canadian subsidiary, Coronation Mines Ltd., and UEM, jointly owned by Cameco Corporation and by AREVA Resources Canada Inc. Coronation Mines Ltd. owns 2% of the project with a right of first offer to increase its ownership of the project up to 10%. To date, over $12 million has been spent on the project exploring for a large unconformity-type deposit that has resulted in the discovery of the Centennial Zone.

Diamond drilling completed during the summer / fall 2007 program consisted of 3 pilot holes and 1 wedge hole totaling a combined 4,787.7 metres. Previous diamond drilling completed earlier in the year also consisted of 3 pilot holes and 1 wedge hole totaling a combined 3,170.6 metres. The encouraging results of the early 2007 drilling were announced in the Company's news release dated July 05, 2007. Drill holes from both programs were designed to follow up on the Centennial Zone mineralization intersected during the 2004 - 2006 programs, test the zone's strike extent and grade, and evaluate the importance of a known graphitic conductor located to the east of the mineralization, known as the C conductor.

The Company has not yet received final certified assay data from the summer / fall drilling on the Centennial Zone, but has been informed that the rock samples are currently in the possession of the assay laboratory. However, preliminary radiometric field data is very encouraging with Cameco acknowledging that the highest grade uranium mineralization to date has been encountered in this latest round of drilling. In Cameco's Management's Discussion and Analysis section of their third quarter report in 2007, they state:

"Drilling continued on the Virgin River project (98% UEM inc., 2% Coronation Mines) with the objective of defining the limits of the Centennial Zone mineralization discovered in 2004. The Centennial Zone has now been defined over a strike length of at least 550 metres and remains open for expansion along the strike to the south. During the third quarter, intersection of the highest-grade uranium mineralization to date was encountered, and validated a newly developed geological interpretation of the mineralizing system. The next phase of drilling is scheduled to begin in January, and will focus on testing the new interpretation in more detail."

Encouraged with the 2007 exploration results, the Joint Venture approved a budget of $5.5 million for 2008 to continue exploration of the project, an increase of 67% over last year's budget. E.R. (Rick) Honsinger, P.Geo., is the Qualified Person under National Instrument 43-101 who has reviewed the information in this release as submitted to the Company by the project's operator, Cameco Corporation. More news on the project will be released when available.

Formation Capital Corporation

Mari-Ann Green, C.E.O.

[MONSIEURCB]

Aus dem neuen Rohstoff-Spiegel:


Fazit
Formation Capital ist mit dem
Idaho Kobalt-Projekt Eigentümer
der einzigen primären Kobaltmine
in Nordamerika. Die Kennzahlen
der zu erwartenden Produktion
versprechen hohe Gewinne. In der
Durchführbarkeitsstudie benutzt
man nur niedrige Metallpreise, so
dass hier trotz der steigenden
Kosten in der Minenindustrie mit
noch höheren Gewinnen gerechnet
werden kann. Anleger, die an den
hohen Kobalt-Preisen partizipieren
wollen, haben auch wenig Alternativen
zur Aktie von Formation
Capital. Sehr positiv ist auch, dass
das Projekt in nur 1,5 Jahren in Produktion
gehen wird und die Genehmigungen
fast vollständig vorliegen.
Auch von Seiten der Politik
und der lokalen Bevölkerung
erfährt die neue Mine großen Zuspruch.
Als Nebengeschäft gießt
das Unternehmen in der Sunshine-
Schmelze Barren für Dritte, was
sich im Rohstoff-Bullenmarkt noch
zu einer zusätzlichen Gewinnquelle
entwickeln wird. Eine erst
kürzlich aktualisierte Studie von
Fundamental Research stuft Formation
Capital als „Kaufen“ ein.
Man gibt ein konservatives Kursziel
von 0,74 CAD an, was jetzt 50
% Potential entspricht. Dabei rechnet
man mit 17,5 USD je Pfund
Kobalt. Bei 30 USD läge das Ziel
sogar bei 1,53 CAD! Mittel- bis
langfristig orientierten Anlegern
winken hier gute Kursgewinne,
denn nach Analystenschätzungen
steigt die Kobaltnachfrage kontinuierlich
an und durch die Exploration
in der Nähe des ICP ist eine
Verlängerung des Minenlebens
möglich.

[MONSIEURCB]

Press Release Source: Formation Capital Corporation

Former Idaho Governor & Secretary of the Interior Elected to Board of Formation Capital
Wednesday December 19, 8:00 am ET

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2007) - Formation Capital Corporation (the "Company") (TSX:FCO - News) is pleased to announce that previous four-term Idaho governor and former U.S. Secretary of the Interior, Cecil D. Andrus, has agreed to join Formation's Board of Directors. Formation is developing a cobalt mine in Lemhi County, Idaho, and is currently operating the Sunshine Hydrometallurgical Facility in Shoshone County, Idaho.

"As we enter the final stages of garnering a favorable record of decision and a permit to begin operations, our Board felt it was critical that we place a well known Idahoan on the Board whose personal reputation for integrity and personal stature would in and of itself underscore our commitment to developing an absolutely safe environmentally compatible mine. In Governor Andrus we have such a person," Mari-Ann Green, Chairman and Chief Executive Officer of the Company, stated.

In commenting on the appointment the former Idaho governor said he had studied the project carefully, and the environmental protections put in place. "This is the best "green" mining project I've ever reviewed. It is an underground mine with only a 125 acre "footprint", will use only simple physical separation milling on site and yet the product it produces, premium grade cobalt, is absolutely critical to the green movement in this nation as it is a necessary component in such things as hybrid cars and it is used as a catalyst in reducing sulfur emissions from various plants and processes. It is a metal with a hundred uses that are beneficial to mankind," Andrus stated.

"This project not only has national strategic material implications, it also holds great promise for the communities of Salmon and Challis, as well as Kellogg and Wallace, in terms of jobs and for all local and state levels of government in terms of the additional taxes it will generate," the former governor said.

"I will do all within my ability to see that this project is permitted promptly and I look forward to carrying the word to Washington, D.C., regarding the national importance of this project and the need, after 14 years of jumping through all the hoops conceivably possible, to finalize and issue the permit so construction can begin by this coming summer," he added.

Andrus has served on the boards of Albertson's, Key Bank and Coeur d'Alene Mines Corporation since leaving office in 1995. He currently is "of counsel" to the Gallatin Group, a northwest based public affairs firm and chairman of the Andrus Center for Public Policy at Boise State University.

Formation Capital's cobalt deposit is slated to provide the United States with cobalt concentrates and premium grade superalloy cobalt. Premium grade superalloy cobalt is necessary for construction of jet airplane engines, batteries for hybrid and electric cars, high temperature gas turbines, and batteries for computers and other high technology uses. It is estimated that the U.S. currently consumes approximately 20% of the world's cobalt and more importantly, approximately 60% of the high purity material, but does not have any domestic source of superalloy cobalt or cobalt concentrates. Approximately 80% of the world's premium superalloy cobalt supply is controlled by one privately owned Swiss company.

Formation Capital Corporation

Mari-Ann Green, C.E.O.

[MONSIEURCB]

Press Release Source: Formation Capital Corporation

Flow Through Financing Completed for Formation's Saskatchewan Uranium Projects
Thursday December 20, 4:57 pm ET

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 20, 2007) - Formation Capital Corporation (TSX:FCO - News; the Company) announces that, through its 100% owned Canadian subsidiary, Coronation Mines Ltd. (Coronation), it has closed a $150,000 flow-through private placement (the Offering) for the purpose of further developing its northern Saskatchewan, Virgin River and Kernaghan Lake Athabasca Basin Uranium projects. These projects are joint ventured with Cameco & Areva, the details of which are more fully described below.

The Company has completed the Offering of 250,000 Units of the Company at a price of $0.60 per Unit. Each Unit is comprised of one flow-through common share and one-half of one non-transferable common share purchase warrant, each whole common share purchase warrant entitling the purchase of one non-flow-through common share of the Company at a price of $0.75 per share for a period of eighteen months from the date of closing of the private placements. The Company has paid legal and due diligence fees totaling $6,903.57 in relation to the Offering.

The Virgin River Project totals over 29,000 hectares and lies in the Athabasca Basin of northern Saskatchewan approximately 60 km west of Cree Lake and is under a joint venture agreement with Coronation and UEM Inc., a corporation jointly owned by Cameco Corporation and Areva, formerly Cogema of France. The Athabasca Basin hosts several of the world's largest and richest uranium deposits. Coronation currently has a two percent interest in the Virgin River project with a right of first offer to increase its ownership to 10%. Coronation was carried by its J.V. Partners for the first $10 million in exploration expenditures. Cameco Corporation is the operator. More than $12 million has been spent to date on the project, including diamond drilling on the Centennial Zone, in the exploration for a large unconformity-type deposit with very significant results being returned to date. Cameco is very encouraged with the exploration results to date and has proposed a budget of $5.5 million for 2008 to continue exploration and development of the project that includes a diamond drill program.

The Kernaghan Lake Project (20% Coronation, 80% UEM) lies west of Wollaston Lake in the north-eastern portion of the Athabasca Basin where Middle Proterozoic, large scale, high grade unconformity uranium deposits occur at the base of the clastic sedimentary sequence and can attain gross metal values in excess of ten billion dollars. The property, located approximately 400 km north of La Ronge, is also joint ventured with Coronation and UEM Inc. with Areva the operator. The target is a Key Lake type uranium deposit, which contained reported reserves of approximately 195 million pounds of uranium oxide. This project lies approximately 15 km northeast along trend of the La Rocque Lake discovery, part of the Dawn Lake Project belonging to Cameco, AREVA and JCU (Canada) Exploration Company Ltd., where a drill intercept of 0.7 m @ 31.9% U3O8 at a depth of 276 meters was reported by operator Cameco.

Formation Capital Corporation

Mari-Ann Green, C.E.O.

[MONSIEURCB]

Press Release Source: Formation Capital Corporation

Formation Capital Hires General Manager for Idaho Cobalt Project
Tuesday January 8, 8:00 am ET

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2008) - Formation Capital Corporation (the "Company") (TSX:FCO - News) is pleased to announce the appointment of Mr. Guy Jeske as General Manager for the Underground Mine and Mill of the Company's Idaho Cobalt Project. Formation Capital is developing a primary cobalt mine in Lemhi County, Idaho, and is currently operating the Sunshine Hydrometallurgical Facility in Shoshone County, Idaho.

Mr. Jeske brings to Formation a wide range of operations and maintenance experience in mining, crushing, and milling and possesses strong business, environmental and management skills. He was most recently the Vice President and General Manager for the Rochester mine in Nevada owned and operated by Coeur d'Alene Mines Co. He has over 31 years of mine management and explosives industry experience, including 11 years with Cyprus Minerals including five years as Resident Manager of the Yellowstone Talc Mine near Ennis, Montana and two tours of service at Thompson Creek. He has a Bachelor of Science degree in geological engineering and holds Professional Engineer's licenses for mining engineering in both Nevada and Michigan.

Mr. Jeske will manage the development of the mine and mineral processing plant from final design through construction and operation. He will be responsible for directing daily operations and the implementation of goals, objectives, policies, procedures and work standards. Management is very pleased to welcome Mr. Jeske to the Formation Capital team.

Formation Capital's cobalt deposit is slated to provide the United States with cobalt concentrates and premium grade superalloy cobalt. Premium grade superalloy cobalt is necessary for construction of jet airplane engines, batteries for hybrid and electric cars, high temperature gas turbines, and batteries for computers and other high technology uses. It is estimated that the U.S. currently consumes approximately 20% of the world's cobalt and more importantly, approximately 60% of the high purity material, but does not have any domestic source of superalloy cobalt or cobalt concentrates. Approximately 80% of the world's premium superalloy cobalt supply is controlled by one privately owned Swiss company.

Formation Capital Corporation

Mari-Ann Green, C.E.O.