First Cobalt FCC - Cobalt News, page-7

First Cobalt Has Huge Exploration Upside - Article by Matt Bohlsen

https://seekingalpha.com/article/4084856-first-cobalt-huge-exploration-upside



Post publication updates:
On June 1, First Cobalt announced,
"First Cobalt options 50% of Canadian refinery with Cobalt One Limited [ASX:CO1]." The deal cost First Cobalt CAD 750,000, with an option to finalise on 31 December 2017 at CAD 2.25m + the equivalent value of 50,000,000 shares of ASX-listed Cobalt One in cash or shares of First Cobalt (approximate value of C$5.5 million).
On June 7, First Cobalt announced,
"First Cobalt acquires land in Cobalt Ontario. First Cobalt is pleased to announce the acquisition of 22 mining claims in Cobalt Ontario, including the former producing Bellellen Mine. This transaction increases First Cobalt's footprint in this prospective cobalt district by 40%. Eight of the 22 claims are contiguous to First Cobalt's flagship Keeley-Frontier project."
On June 20, First Cobalt announced,
"First Cobalt announces Kipoi East exploration program (to commence immediately). US$650,000 exploration program for the Kipoi East property, a 23 square-kilometre property northwest of Lubumbashi. Follow-up of over 1,500 metres of percussion and diamond drilling on geological, geochemical and geophysical targets."
On June 21, First Cobalt announced,
"First Cobalt Proposes Friendly Merger with Cobalt One. Under the proposal, First Cobalt would acquire all of the outstanding common shares of Cobalt One which would result in the shareholders of Cobalt One holding approximately 60% of the equity in the merged entity and the shareholders of First Cobalt holding the remaining 40%. If concluded, this merger would consolidate the two largest land packages in the Cobalt camp into a single landholder with over 10,000 hectares (Figure 1). First Cobalt would also become 100% owner of the Yukon refinery, previously a joint venture option between the two companies." The company has subsequently gone into a trading halt, after an exponential share price rise.
The above updates for June show management is extremely motivated and moving at incredible speed. This is a further big positive for the stock. At the time of publishing on the regular SA site First Cobalt is in a trading halt (at CAD 0.76), due to the Cobalt One friendly merger offer.