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Wednesday, May 8, 2019 - 10:22:23 AM
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Mining News Pro - Canada Cobalt Works has signed a deal for the custom treatment of material from U.S. mines using its proprietary Re-2OX process.
According to Mining News Pro - A non-binding memorandum of understanding has been signed between Canada Cobalt and Global Energy Metals of Vancouver. Global Energy has two cobalt-copper projects in Nevada. Material from the Lovelock mine and Treasure Box property will be treated to confirm recoveries and create a battery grade test product.
Canada Cobalt will supervise the treatment program in order to protect its intellectual property, and will be paid an up-front $200,000 fee, the company’s first revenue stream. Global Energy will pay for sampling and lab work up to a maximum of $100,000.
Canada Cobalt will also subscribe to 2.0 million units of Global Energy at $0.075 each, for a total investment of $150,000.
Short Link:
https://www.miningnews.ir/En/News/371988
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