TSX-listed eCobalt Solutions has announced cost control measures to preserve its treasury, until the cobalt market recovers sufficiently to raise the necessary funding required for the advanced-stage Idaho cobalt project (ICP) in the US.
The company will be reducing its overhead costs so that its resources will focus on critical path items, including securing offtake and finalising a new feasibility study for the previously announced 1 200 t/d mine plan, the mining company said on Wednesday.