Essential Power…Infinite Possibilities

Idaho Cobalt Project

Project Overview

eCobalt’s primary asset, the Idaho Cobalt Project ("ICP"), remains the only advanced stage, near-term, environmentally permitted primary cobalt deposit in the United States. With initial production expected in 2019, the ICP will ethically produce environmentally sound cobalt products, made safely, responsibly and transparently in the United States.

The ICP is 100% owned by the Company’s wholly owned subsidiary Formation Capital Corporation. The project is comprised of the Mine/Mill (M/M) site located in Lemhi County, Idaho, near the town of Salmon, Idaho and the Cobalt Production Facility, a stand-alone processing facility to be located in Southern Idaho near the city of Blackfoot. According to the Feasibility Study dated September 27, 2017, the project is slated to produce1,500 tons of cobalt metal equivalent annually over a projected mine life of 12.5 years.

The ICP is fully environmentally permitted having completed an Environmental Impact Statement and has received a positive Record of Decision on its Mine Plan of Operations from the U.S. Department of Agriculture National Forest Service and a water discharge NPDES (National Pollutant Discharge Elimination System) permit from the U.S. Environmental Protection Agency. Initial construction of the project began in 2011, before the project was placed on Care and Maintenance in 2013 due to market conditions. In 2017 the Company recommenced pre-construction activities, and to date approximately 90% of the earthworks have been completed at the mine site.

A total of $120M has been spent on the project to date. Approximately $16M worth of long lead time equipment was previously purchased and is stored in warehouse and staging areas outside of the town of Salmon, ready for transportation to the mill site. This equipment represents all major components of the mill and concentrator, and includes the ball mill, flotation cells, hoppers, grizzlies, etc.

By July 2014 financial markets had improved significantly and it became apparent that cobalt sulfate, used in lithium-ion batteries, was going to significantly outperform the market for cobalt used in super-alloys. Rechargeable batteries represent 49% of cobalt consumption (in the form of sulfate) and the market is growing at a compounded annual rate of 11.7%. As a result eCobalt announced a change of direction aimed at taking advantage of the rapidly expanding electric vehicle, grid storage, and renewable energy sectors. The Company completed a Feasibility Study (“FS”) in September 2017 detailing the production of a cobalt sulphate product.

In response to changes in battery supply chain dynamics since the completion of the FS report, eCobalt has determined there are economic advantages to produce a clean (low arsenic content) cobalt concentrate product, an upstream precursor material for battery cathode production. This new direction has the potential to greatly reduce the capital requirements for the project without altering the project's initial timeline.

Laboratory scale testing in 2017 demonstrated successful arsenic removal from ICP ore concentrates by conventional roasting methods. These successful results support the Company’s new direction to produce a clean cobalt concentrate desirable to potential off-take partners. eCobalt is currently completing a new, optimized Feasibility Study, which is expected to be complete in Q2 2018. Concurrently, discussions are ongoing with potential off-take partners as well as pilot testing of ICP ore to provide additional engineering confidence in the ICP’s ability to produce a clean, high value cobalt concentrate


The ICP has undergone numerous studies including scoping, pre-feasibility and feasibility level studies through the development of the project engaging numerous engineering firms and engineering, metallurgical and market specialists. These studies were commissioned by Management as the ICP progressed from exploration, development and into construction. Certain studies that refer to the reporting of geological resources and/or other National Instrument 43-101 requirements have been filed on SEDAR and are available at These filings include the Company’s latest Feasibility Study (FS) summarized below and in the Company’s November 10, 2017 news release. Excerpts from the FS can also be found in the Company’s additional presentation materials.

The reader is cautioned that historical technical reports filed on SEDAR, prior to the most recent 2017 FS, contain economic assumptions that are out of date. They may include assumptions for metal prices, plant performance, additional resources and other economics and as such should no longer be relied upon.

The historical technical reports were commissioned to define the production of High Purity Cobalt (HPC) metal for use in the super-alloy sector, which includes the manufacturing of wind and jet engine turbines. In 2014 eCobalt recognized a huge demand surge in Cobalt Sulfate brought on by the rapidly expanding electric vehicle, grid storage, and rechargeable battery sectors. Significant growth in these areas is expected to continue into 2025 and beyond. As a result, in 2015, management commissioned and completed a PEA to produce cobalt sulfate and subsequently completed a Feasibility Study

On June 21, 2016, the Company announced that it has signed an agreement with Micon for technical services to conduct a FS on the ICP. Micon subcontracted aspects of the study concerning the processing, infrastructural engineering, risk assessment, project scheduling, and cost estimating to SNC-Lavalin. Initial results from the FS were delivered to the Company September 27, 2017.

The proposed underground mine development layout has been optimized to minimize the scheduled lead time while providing access to stopes of above average grade early in the mine life to assist in minimizing mine payback schedule.

The preliminary results of the FS are available under our Technical Reports section of the site. The FS Technical Report was filed on SEDAR on November 10, 2017.