First Cobalt Corp buys Iron Creek project, eliminates royalty

First Cobalt has acquired the Iron Creek property in Idaho, US and eliminated its outstanding royalty, the company said.

The move streamlines future permitting and development activities and accelerates the mine planning process, with the North American pure play cobalt company having begun a consultation process and collecting baseline data for future permitting requirements, it noted.
The Iron Creek project was previously under lease to First Cobalt, with the company required to make monthly payments while the leaseholder retained a 4% royalty over future production, both of which could be eliminated by a one-time payment.

First Cobalt and the leaseholder agreed to a 47% reduction of...

Published

Andrea Hotter

September 04, 2018

14:50 GMT

New York