July 14, 2016
Formation Metals: Cobalt for a Better Future - Interview with Formation Metals' CEO Paul Farquharson
Author: Melissa Pistilli
THIS IS NOT AN OFFICIAL COMPANY NEWS RELEASE
- FOR THE INFORMATION OF SHAREHOLDERS AND INTERESTED PARTIES ONLY -
Interview with Formation Metals’ CEO Paul Farquharson
Formation Metals recently announced metallurgical results and the initiation of a Definitive Feasibility Study on the ICP, as well as a financing of $4.4 million dollars. Investing News Network spoke with President & CEO Paul Farquharson to follow-up on this and other milestones they expect in 2016.
Investing News Network: We hear a lot about lithium when it comes to electric car batteries, but what many people may not know is that cobalt also plays an important role in the battery chemistry. For investors that are new to the cobalt space, can you give us some insight into what makes this an exciting market?
Paul Farquharson: The supply demand situation for cobalt is really the key catalyst for the renewed excitement in the cobalt sector. There are many analysts out there that believe that cobalt is currently, or will be very shortly, in a deficit situation and will remain so for quite some time. Probably into 2018 to 2019 mainly due to the electric vehicle market, which is the key driving force. Forty nine percent of cobalt used is now driven by rechargeable batteries and the growth rate is phenomenal, over 11 percent year over year growth.
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