Here’s a green play you probably haven’t heard of: cobalt. Formation Capital has completed a Mine Plan of Operations and submitted it to the United States Department of Agriculture Salmon Challis National Forest as per requirements previously set forth. They are on track to begin mine construction this fall.
Who cares about cobalt, you might ask.
Once in production, Formation’s Idaho Cobalt Project will provide the United States with high purity super alloy grade cobalt metal required for critical applications such as the construction of jet airplane engines, land based turbines, catalysts for gas to liquid technology, and batteries used in hybrid and electric cars.
Further questions?
So far this stock has held up well in a summer that has been a bloodbath for most Canadian juniors. Currently trading at just over half a buck, that buck is worth more this morning with an idiotic U.S. dollar rally underway.
Formation Capital trades on the Toronto exchange under the symbol FCO.
