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Jervois Mining Update on Idaho Cobalt Development Strategy

Mining News - Published on Mon, 29 Jul 2019

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Jervois has completed its merger with eCobalt after receiving eCobalt shareholder and Supreme Court of British Columbia approvals. Following the successful completion of the Arrangement, all conditions precedent have been met and settlement of the A$16.5 million equity placement in Jervois has occurred. The Idaho Cobalt Project has been renamed Idaho Cobalt Operations to reflect its advanced stage of development and Jervois's intention to transform the site into a mining operation. The site has had an estimated US$100 million invested to date in plant and infrastructure. Together with completion of the environmental permitting process, this provides Jervois with a strong platform to complete construction.

However, Jervois will update a Feasibility Study ("FS") for the ICO. Appointments to the FS team are being undertaken, drill rigs have been secured and permits obtained. Mobilisation has commenced in support of the FS, with the summer drill programme to support final testwork and engineering for the permitted 1200stpd concentrator, and to enhance geological confidence on the mineral resource in early years of production.

Jervois is inviting tenders for the FS from a select group of engineering groups capable of deploying in the United States to finish ICO site construction.

In parallel, invitations are being sent for completion of a scoping study to produce refined cobalt and copper from ICO concentrate, within the state of Idaho. Jervois believes that the ICO resource potential and production scale will support downstream refining. A domestic United States refinery will improve project economics, increase investment and skilled job creation in Idaho, and also enhance the security of United States cobalt supply.

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Posted By : Sanju Moirangthem on Mon, 29 Jul 2019
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