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.
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.
Formation Capital (T.FCO) is regaining share price as the Biological Opinions needed for the EPA to issue their record of decision is completed and in the hands of the EPA to finish up.
Formation Capital’s share price had suffered with mining companies of every flavor especially since March of this year. Formation is rather unique in that Cobalt as a resource is not even close to anyone’s radar screen despite huge price appreciation for the commodity over the last several years. Now FCO has recovered to the C$0.70 range as of today’s market close.
Formation Capital was brought to my attention thanks to the recommendation of Peter Grandich of The Grandich Letter.
Formation Capital (FCO-TSX) reported great progress on their Cobalt mine in Salmon, ID. This project is steadily moving forward and is extraordinarily promising.
Cobalt is something not even on most analysts radar screen, yet the price has been gaining substantially over the last 2 years.
This is not only a company to watch, but IMHO, one to own.