LiCo Cobalt Drill Results Due
All of the energy metals are getting more interesting as the transition to battery powered vehicles gains speed. One company that I first wrote about in May has feet in both camps, cobalt and lithium. That would be LiCo and they have cobalt drill results coming out at any time now.
LiCo has completed eighteen core holes on the Glencore Bucke cobalt mine project with a total of about 1450 meters. The assay results from five of the holes are due to be released at any time.
On the Teledyne property adjoining Glencore, they have completed a total of four deeper core holes for a total of 800 meters.
These were real mines operated for their high grade silver. Cobalt wasn’t worth much back then but it has more than doubled in value in the last year to $28 a pound.
The company has an historic resource of 75,000 tons of rock at a grade of 0.45 cobalt and about 3 ounce silver. That rock is worth about $326 a ton today.
There is an existing mill suitable for processing silver/cobalt ore about 3 km from their projects. A Swiss company has sunk $20 million into the mill. Management of LiCo plans on talking to the Swiss firm to see if they could set up an acceptable toll milling agreement. That’s very positive for the stock.
Look for very positive drill results shortly.
LiCo is an advertiser. Do your own due diligence.
LiCo Energy Metals