Miners More Optimistic as Cobalt Prices Shoot Up On Continued Battery Materials Demand

PALM BEACH, Florida, March 8, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

Recent reports that Apple is now chasing after cobalt from active mining companies has put a huge spotlight on the industry concerning the valuable metal's impending supply shortage. More than 60 percent of the world's cobalt is found in the Democratic Republic of Congo. By moving to buy straight from miners, Apple is looking to find a level of guaranteeing their supply chain is clean. Demand for as well as the price of cobalt has skyrocketed since just over a year on projections of fast-growing demand for electric vehicles, whose lithium-ion rechargeable batteries are also dependent on the metal. Some industry professional believe it is likely the market will see other major electronics manufacturers like Samsung and LG Chem follow the path taken by Apple by opting for longer-term contracts with major cobalt miners to secure future supply. Cobalt/Lithium miners with developments include: LiCo Energy Metals Inc. (OTC:WCTXF) (TSX-V:LIC), First Cobalt Corp. (OTC: FTSSF) (TSXV: FCC), Freeport-McMoRan Inc. (NYSE: FCX), Advantage Lithium Corp. (OTC: AAUKF) (TSXV:AAL), Vale S.A. (NYSE: VALE).

 LiCo Energy Metals Inc. (OTCQB: WCTXF) (TSX-V: LIC.V) BREAKING NEWS: LiCo Energy Metals is pleased to the update its shareholders on the completion on the Teledyne Cobalt Property Phase 1 diamond drilling program. During the fall of 2017, LiCo completed 11 diamond drill holes totaling 2,200 m. The drill program, along with the Phase 1 diamond drilling program completed on the Glencore Bucke Property, satisfied LiCo's flow-through financing obligations.

"We are extremely pleased with the overall results, especially the grades and widths of the cobalt mineralization intersected in the majority of the drill holes from the Teledyne Phase 1 drill program. We view the results of both the Teledyne and Glencore Bucke drill programs as being successful" commented Mr. Tim Fernback, President & CEO of LiCo. "Now that we have all the drill results, LiCo will design the Phase 2 drill program which will then become the basis of completing a 43-101 Compliant resource estimation. We are very excited about the future and commencing Phase 2 on both the Teledyne and Glencore Bucke properties in the future".