Jervois is in the process of completing friendly “at market” mergers with M2 Cobalt Corp. and eCobalt Solutions Inc. These mergers will position Jervois as the 3rd largest cobalt company globally as it pursues its vision to become the leading mid-tier, multi-jurisdictional battery metals supplier. Current proforma market capitalization of the enlarged group is approximately US$100 million with approx.. $16.5 million in pro forma cash and cash equivalents.
Jervois owns 100% of the Nico Young Cobalt-Nickel Project in Australia and has now finalized a PFS based on 3.0Mtpa ore throughput per annum based on low capital and technical risk heap leaching which will make it one of the largest producing nickel / cobalt projects in Australia. Through its merger with eCobalt, Jervois will also own the Idaho Cobalt Project, a development stage project near Salmon, Idaho, United States. This project has the largest Ni 43-101 compliant cobalt resource in North America with some of the highest cobalt grades globally.
Through its merger with M2 Cobalt, Jervois will own 2,400km2 of highly prospective exploration licenses in Uganda, East Africa. M2 Cobalt has developed multiple large-scale Cu-Ni-Co targets across its asset base and is recommencing drilling funded by an interim loan from Jervois. Jervois is also in discussions with the Uganda Govt. about potential restarts of the Kilembe Mine and the nearby Kasese cobalt refinery and, with offices and a team based in country, is well positioned for the significant opportunities that exist locally and across East Africa including the Kabanga Nickel-Cobalt Project in Tanzania, where Jervois has applied for a prospecting license.MiningNews in April 2019 The Australian Financial Review in April 2019 Merger Overview
Bryce Crocker, Chief Executive Officer
Simon Clarke – Chief Executive Officer (M2 Cobalt)
What is your rationale for attending 121 Mining Investment?
Deepen capital markets understanding of, and broaden investment interest in the company for future capital raises as it looks to complete recently announced mergers and secures new projects. Company is also looking for partners for the Nico Young development in New South Wales, Australia.
What recent news would you like to highlight to investors attending?
Jervois Mining (JRV) announced friendly at market mergers with eCobalt Solutions (2 April, 2019) and with M2 Cobalt Corp (22, January 2019), transactions aimed at creating the foundation for a leading global cobalt / nickel / copper company. Post mergers Jervois will be 3rd largest cobalt company globally based on market capitalization.
In its upcoming pre-feasibility study (PFS) on Nico Young. Jervois is planning a lower capex and technical risk heap-leach operation of upcoming, making it one of the largest Australian cobalt-nickel operations. In the PFS the plant will produce nickel sulphate and cobalt sulphide. Jervois will now look to secure partners to fund the DFS phase of the project and beyond.
What are your key goals for the next 3, 6 and 12 months?
Complete the Mergers with M2 Cobalt and eCobalt Solutions and finalise Nico Young partnering and off-take options to facilitate launch and completion of definitive feasibility study (DFS)
Ipcoming DFS for the Idaho Cobalt Project. Advance and receive support from either or both the Government of Uganda and / or Government of Tanzania to move forward with proposals in relation to the Kilembe copper-cobalt mine and Kasese cobalt refinery, and the Kabanga nickel-cobalt-copper mine, respectively.
Make a major new discovery in Uganda through our exploration / drilling programs. Continue to advance the Idaho Cobalt Project and Nico Young and our initiatives / projects in East Africa to create multiple asset / jurisdictional operating company providing Li-ion raw material supply for cathode producers.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Securing long term partners / investors for our projects / company.
We are dealing with these challenges by continuing to educate markets / potential investors and partners on the depth, quality and experience of our team and the potential of the projects that we are focusing on. And also emphasising our belief that now is the right time in the cycle to be building a leader in the supply of battery metals.
What do you think makes your company such a compelling investment?
The quality of our team and our technical depth from exploration and development into production and refining and beyond. And our motivation to create the leading mid-tier, multi-jurisdictional battery metals supplier.