Bankers Cobalt Corp. [BANC-TSXV, BC2-FSE] said Monday October 15 that it has established a confidential virtual data room to provide access for parties who have approached the company or expressed an interest in reviewing data on Bankers and its concessions.
“We have completed a significant amount of work and compiled relevant and compelling geochemical and drilling data on or expansive +400 km2 land package in the DRC and 135 km2 Namibian license,” said Bankers President and Chief Operating Officer Grant Dempsey.
“We will now make that data available for on-line review by parties which have approached Bankers or expressed an interest in participating with the corporation in realizing the potential of Bankers strategically positioned land holdings.”
Bankers shares rallied on the news, rising 9.09% or $0.005 to 6 cents on Monday. The stock is trading in a 52-week range of 85 cents and $0.045.
Bankers Cobalt is a cobalt and copper exploration and development company focused on advancing a portfolio of permitted concessions in the DRC. The company holds rights to 26 separate mineral concessions strategically located in the southern DRC Copperbelt, covering a total area of 391 km2.
The DRC is the source of roughly 54% of the world’s cobalt production.
The company has said its aim is to generate a reliable, certified supply of non-conflict copper-cobalt for existing and new processors in the DRC, which have excess capacity but a lack of available certified resources to meet burgeoning market demands.
Aside from the DRC interests, Bankers has acquired an option on a 135 km2 license in Namibia with the potential for copper, cobalt and other metals. In a July 26, 2018 news release, Bankers said it has secured an option to acquire a 70% interest in the Kamajab license, which is situated in the north of Namibia, approximately 500 km northwest of Windhoek, the capital of Namibia.
The option period is for two years with no defined expenditure requirements and may be extended or converted into a 70/30 joint venture with a two-year option timeline.
Cobalt, which is produced primarily as a byproduct of copper and nickel, has recently become a hot investment area due to its key role in the production of rechargeable batteries used in the manufacture of electric vehicles.
According to Darton Commodities Ltd., a specialty supplier of cobalt metal products, Cobalt’s role in delivering energy efficiencies across a number of sectors has been increasing. Darton expects that cobalt use in lithium-ion batteries could be poised to grow at an average annual rate of approximately 12% from 2016 to 2022.