PALM BEACH, Florida, February 6, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

As of February 2, 2018, the cobalt spot price was $36.63, rising again strongly from just over $34 in early last month. In the past two months cobalt continues to rally up over 30%. The last few months in 2018 saw many of the electric vehicle (EV) companies and EV metal miners stock prices surge. Lithium and Cobalt miners, in particular, have led the charge while Cobalt prices alone went ballistic in 2017 with the metal quoted on the LME recently topping $80,000 a tonne after more than doubling over the past year. It also has been reported by Mining.com, The Democratic Republic of Congo will seek greater control of the global cobalt market by engaging directly with car and battery manufacturers, according to its largest state-owned mining company. The electric-vehicle boom and shifting industrial demand have transformed formerly niche metals - from lithium and cobalt to praseodymium and neodymium - into the hot new of global mining operations and production. Notable companies in the industry this week include:Cruz Cobalt Corp. (OTC: BKTPF) (TSX-V: CUZ), Sherritt International Corporation (OTC: SHERF) (TSX: S.TO), Rio Pinto Plc (NYSE: RIO), First Cobalt Corp. (OTC: FTSSF) (TSX-V: FCC), eCobalt Solutions Inc. (OTC: ECSIF) (TSX: ECS).

Cruz Cobalt Corp. (OTC: BKTPF) (TSX-V: CUZ) is pleased to announce that the company has significantly increased its acreage in the Cobalt District of Ontario. The new "Lorraine Cobalt Prospect" consists of 8,935 contiguous acres bordering First Cobalt Corp (FCC-TSX.v) in the direct vicinity of the town of Cobalt, Ontario.

Cruz President, James Nelson, stated, "This new acreage makes Cruz one of the single largest landholders behind First Cobalt Corp (FCC-TSX.v) in the historic cobalt camp in Ontario. This now gives Cruz 5 separate cobalt prospects in the region. The Ontario cobalt district has become one of the global focal points for cobalt exploration and Cruz was positioned very early giving Cruz a first mover advantage and now is one of the single largest landholders in the region. Cruz currently has more cash on hand than any other point and management is planning to deploy that cash strategically and efficiently in 2018. The cobalt demand has never been more in focus as the world is moving towards full scale electric car adoption. The demand for battery metals appears to be at the start of long term super cycle and Cruz is positioning itself early for this cycle." Read this and more news for Cruz Cobalt Corp at: http://www.marketnewsupdates.com/news/cuz.html

Recently (January 22, 2018) Cruz increased its acreage on the "Purcell Cobalt Prospect" from 671 acres to 11,821 acres, consolidating the previous two separate Purcell prospects into one much larger contiguous prospect. Also on January 16, 2018 Cruz increased its landholdings surrounding the War Eagle cobalt prospect in BC. Cruz now has a 100% interest in 15,219 acres on the War Eagle cobalt prospect. Cruz also just recently completed an airborne survey over the War Eagle and Purcell cobalt prospects in BC and uncovered strong magnetic anomalies (announced January 19, 2017). Management is now working diligently on advancing these two BC cobalt prospects.

Cruz currently has nine cobalt projects located throughout North America, comprising of four in Ontario, two in British Columbia, one in Idaho and one in Montana. Cruz's five separate Ontario cobalt prospects are all located in the vicinity of the town of Cobalt making Cruz one of the largest landholders in this emerging cobalt district. Cruz's Ontario projects include the 1,265 acre Coleman cobalt prospect, the 900 acre Johnson cobalt prospect, the 4,980 acre Hector cobalt prospect, the 1,580 acre Bucke cobalt prospect and now the 8,935 Lorraine cobalt prospect. The company's BC prospects include the 15,219 acre War Eagle cobalt prospect and the 11,821 acre Purcell prospect. Cruz's USA projects include the 1,940 acre Chicken Hawk prospect in Montana and the 880 acre Idaho Star prospect.

In the industry developments and happenings in the market this week include:

Sherritt International Corporation (OTC: SHERF) (TSX: S.TO) will release its 2017 results on Feb. 12. Details for the company's conference call are as follows: Press release: Feb. 12, 2018, before market open - Conference call and webcast: Feb. 12, 2018, 10:30 a.m. ET - North American callers, please dial: 1-800-281-7829 - International callers, please dial: 647-794-1827 - Live webcast: Sherritt website

An archive of the webcast will also be available on the website. The conference call will be available for replay until Feb. 17, 2018, by calling 647-436-0148 or 1-888-203-1112, access code 4489193 followed by the pound key. Sherritt is a world leader in the mining and refining of nickel and cobalt from lateritic ores with projects and operations in Canada, Cuba and Madagascar. The corporation is the largest independent energy producer in Cuba, with extensive oil and power operations across the island.

According to Mining.com, Rio Pinto Plc (NYSE: RIO) is said to be once again chasing a $5bn stake in Chile's Chemical and Mining Society (NYSE: SQM), the world's largest lithium producer, following the resolution of a long-dragged dispute between the company and the country's government over royalties in Salar de Atacama. The deal between SQM and Chile's development agency Corfo, reached last month, freed the lithium producer to apply for an increase in its output quota amid a demand boom and surging prices for the white metal, used in the batteries that power electric vehicles. Read the entire article at: http://www.mining.com/rio-tinto-back-race-stake-worlds-largest-lithium-miner/  

eCobalt Solutions Inc. (OTCQX: ECSIF) (TSX: ECS.TO) recently provided orporate update and advised that it is not aware of any material change in the Company's operations that would account for recent market activity. As previously disclosed, eCobalt is currently completing a new optimized Feasibility Study ("FS") to reflect the change from the September 27, 2017 FS to produce a clean cobalt concentrate, a more desirable product to potential off-take partners. This change to a more upstream product has the potential to result in a significant improvement in economics for the Idaho Cobalt Project ("ICP"). Furthermore, as a result of the recently enacted US tax reform, whereby the corporate tax rate has dropped from 35% to 21% in addition to other changes, the Company conducted an in depth review of the economic impact of these changes on the ICP. According to this review, total tax payable will drop by 21% during the life of the project. This is expected to increase net after-tax cash flows and economics of the project, with all other economic and technical assumptions remaining unchanged as reported in the September 27, 2017 FS. A more detailed analysis will be released along with the new FS in the second quarter of 2018.

First Cobalt Corp. (OTCQB: FTSSF) (TSX-V: FCC.V) on Monday announced positive drill results from its 2017 drill program, intersecting over 30 metres of disseminated cobalt mineralization in the southern part of the Canadian Cobalt Camp. Multiple drill intercepts in this area demonstrate that cobalt mineralization likely occurs as a broad zone, over approximately 350 metres of strike length associated with the historically mined Woods Vein and other transecting structures. Trent Mell , President & Chief Executive Officer, commented: "A key objective of our maiden drill program has been realized. We have demonstrated that disseminated cobalt and silver mineralization exist near-surface and outside the veins that were the focus of historic underground mining operations, confirming findings from our 2017 surface sampling and prospecting. Drilling is now underway at the Bellellen mine in Cobalt South and shortly thereafter we will drill targets in Cobalt North."

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