TSX-V-listed First Cobalt has announced positive feasibility study results for its cobalt refinery expansion project, in Canada, marking a key milestone in its efforts to disrupt the existing cobalt supply chain.
The study shows strong asset-level economics that position the refinery to be “competitive globally and provide attractive investment returns”, president and CEO Trent Mell said on Monday.
The study, based on a cobalt price of $25/lb, calculated that the refinery expansion will yield an aftertax net present value of $139-million and an aftertax internal rate of return of 53%, with a payback period of 1.8 years.