M2 Cobalt Corp and Jervois Mining Ltd announced on 22 January 2019 to merge to create industry leader.
Highlights of the deal:
– Friendly at-market merger leading to enlarged company with greater scale, liquidity and diversification with significant re-rating potential
– Jervois to enter North American capital markets via TSX Venture Exchange listing
– M2 Cobalt provides an existing operational platform and presence in Uganda for opportunities related to restarts at the Kilembe Copper-Cobalt Mine (“Kilembe”) and Kasese Cobalt refinery
– Significant exploration potential along strike of historic Kilembe mine in both directions on licenses controlled by M2 Cobalt; drill ready targets at the Bujagali prospects in central Uganda that will be immediately funded by a convertible loan from Jervois
M2 Cobalt is an exploration & development company focused on discovering and developing world class cobalt assets in Uganda. It has 100% ownership in claims covering 2,413.8 km2 of highly prospective land in Uganda. Bordering the DRC (currently producing approx. 65% of the world’s cobalt) its assets also share the same underlying geology/mineral trends as major producing mines in the DRC, Rwanda and Tanzania. Some of the key assets are also on trend with, the former producing Kilembe mine, Uganda’s largest producing copper/ cobalt mine (1956-1977). M2 Cobalt’s successful phase 1 work program discovered 3 different styles of mineralization and 10 key target areas with rock & soil samples up to 1.75% Co, 0.91% Cu and 0.26% Ni. M2 Cobalt has launched an initial drill program to test mineralization at depth on several of its key targets.
Simon Clarke, LLB, Dip.LP – Director, CEO
25 years in senior roles focused on resources / energy / energy technology. Co-founder OSUM Oil Sands, former EVP RailPower Technologies. LLB University of Aberdeen
Andy Edelmeier, MBA, CPA, CMA – Director, CFO
Senior investment banker with JP Morgan Chase & Credit Suisse First Boston in London. President Braemar West Capital Inc., MBA London Business School, CPA, CMA
What is your rationale for attending 121 Mining Investment?
At 121 Mining Cape Town, M2Cobalt is looking to connect with institutional and private investors and potential strategic partners to raise its profile in the investment community and to prepare for future funding requirements.
What recent news would you like to highlight to investors attending?
22/02 – M2 Cobalt and Jervois Mining to Merge to Create Industry Leader
10/01 – M2 Cobalt Completes Initial 2,000 Metres of Diamond Drilling
29/11 – M2 Cobalt Continues to Expand “Regional’ Kantanga-Style Play at Bujagali
27/11 – M2 Cobalt commences Drilling at Bombo
15/11 – M2 Cobalt Expands Initial Drill Program
18/10 – M2 Cobalt Commences Initial Drilling Program
17/10 – M2 Cobalt to Acquire Four Additional Exploration Licenses in Uganda, Covering 850 km2 in Close Proximity and On-Trend to Existing Discoveries
18/09 – Mahendra Naik appointed as Director
04/09 – Discovery of Six Additional Large-Scale Cobalt Anomalies at Bujagali– up to 1.75% Co
In a sentence, what do you think makes your company such a compelling investment?
M2 Cobalt is a “first-mover” in cobalt exploration in Uganda. With a unique geological setting combined with transparent mining laws and policies developed with the help of the World Bank, Uganda is primed and ready for exploration and mining development.
M2 Cobalt owns over 2,400 km2 of resource exploration properties highly prospective for cobalt, as well as nickel and copper in Uganda, East Africa, adjacent to the DRC which currently supplies over 65% of the world’s cobalt.
With a highly successful phase 1 program completed, M2 cobalt is rapidly advancing its projects with an initial phase of drilling now underway.