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Latest Cobalt Mining News Headline
 Thursday, May 08, 2008
FORTUNE MINERALS LIMITED
Fortune Minerals announced improved economics for its wholly owned NICO cobalt-gold-bismuth deposit in the Northwest Territories, Canada, pursuant to a report prepared by Micon International that provides an update to their 2007 full feasibility study. The company retained Micon to prepare the updated report to reflect the improved flotation metallurgical recoveries achieved in the company’s $4.3 million pilot plant. Micon’s 2008 updated report indicates a base case, using predicted long-term metal prices, pre-tax internal rate of return of 32.3% and an 8% discounted net present value of C$360.7 million for the NICO deposit development, and a 97.2% pre-tax IRR and 8% discounted NPV of C$1.5 billion at recent metal prices.
Property: NICO
(Complete Text of May 8, 2008 News Release) PDF |
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- Cobalt Statistics and Information - (USGS) Regularly updated publications about the state of the US cobalt industry
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- Cobalt Development Institute (CDI) - Information about cobalt including facts, statistics, patents, and news
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