Gastar Exploration Inc (NYSEMKT:GST)

Gastar Exploration Inc (NYSEMKT:GST) Exploration, Development in the STACK

Gastar Exploration Inc (NYSEMKT:GST)

Gastar Exploration Inc (NYSEMKT:GST), based in Oklahoma, has established a strong production portfolio in the STACK play where 62,600 out of its 89,600 net acres are located in 5 zones. Gastar Exploration is an independent energy company which specializes in the development and production oil and other oil products.

Gastar Exploration Inc (NYSEMKT:GST)’s assets in STACK are spread out between Osage, Meramec, Oswego, and Hunton Limestone plays. According to the company’s estimates, there are 1,142 net undrilled horizontal locations located within the five areas. At the end of the first quarter of 2017, the company has three drilling wells in STACK.

In the acreage located in Meramec, which has around 23,600 acres, the company has 11 non-operating wells. The company has 19 horizontal-operated wells out of which 17 are producing.

The Osage acreage is made up of around 47,700 acres. The company has 10 wells out of which seven are producing. The company also has six operational wells out of which two are currently producing. Two more wells as are under flowback while an additional two wells are waiting on cement.

The Oswego asset sits on around 11,400 net acres. The company has showed a strong production take off with around 2,100 BOEPD. The company is currently actively participating in four wells out of which three are producing. The company itself has one horizontal well which is under production.

Gastar Exploration Inc (NYSEMKT:GST)’s Woodford asset is made up of around 19,900 acres. The assets have shown a lot of potential with an initial production rate of 1,500 BOEPD. The company is participating in three wells and has opened doors for other operators so as to de-risk the play.

Gastar Exploration Inc (NYSEMKT:GST) also has wells in the WEHLU-Hunton play which is made up of around 64,000 acres. It operates a total of 8 proved-undeveloped wells situated in Northern Hunton plus 18 proved-undeveloped situated in Lower Hunton. The company operates a total of 39 horizontal wells in the entire Hunton area with 37 of these located in Lower Hunton. In a move to expand its STACK total acreage, the company has acquired an additional 5,670 net STACK acres at a cost of $51.4 million.

At the end of the last financial year, the company entered into partnership with DrillCo in which Gastar Exploration Inc (NYSEMKT:GST) came up with a drilling program mainly targeting the Osage and Meramec formations. At its full implementation, the program is expected to result in the drilling of 20 wells in the initial stage. The number of wells that will eventually be drilled will be determined at a later stage.

Gastar Exploration Inc (NYSEMKT:GST) closed Thursday’s session at $1.00 losing 5.66%.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF)

LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF) Closes $172 Million Financing

LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF)

LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF) has closed an investment agreement with GFL International Co. Under terms of the agreement, the company is to gain access to $172 million in new financing. The Chief Executive Officer, Tom Hodgson expects the new financing to place the company in a strong financial position as they commence work on the Cauchari-Olaroz lithium project.

Ganfeng Lithium Investment

LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF) is to issue 63,750,000 shares at a price of C$0.85 per common share as part of the investment agreement. Gross Proceeds from the offering should be about $40 million. The investment also provides access to a $125 million credit facility that can only be executed in an off-take agreement, for the purchase of lithium products.

Taking into consideration previous investments Ganfeng Lithium now holds 75,000,000 of LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF) shares.

“We welcome Ganfeng Lithium as our largest shareholder. The closing of the Investment Agreement places Lithium Americas in a strong financial position and will allow the Company to now commence construction of the Cauchari-Olaroz lithium project with our joint venture partner SQM, with the objective of becoming the next low-cost brine producer of lithium by 2019,” said Mr. Hodgson.

The investment is a big boost for LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF) as it continues to ramp up Lithium production. There has been a growth in demand for lithium products as the electric vehicle market continues to gain momentum. Growing focus on green energy solutions has also led to a growth in demand for lithium-ion batteries that are used in combination with solar panels.

Director’s Appointment

Separately, LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF) has appointed Wang Xiaoshen and Jonathan Evans as independent directors. Chairman of the board, George Ireland, expects the two to play a pivotal in the company’s ongoing transition.

“We are very pleased to welcome Xiaoshen and Jon to Lithium Americas, and believe that they will add considerable value as the Company transitions into a producing specialty chemical company with a global mandate. Xiaoshen and Jon bring a wealth of knowledge and lithium industry experience,” said Mr. Ireland.

Mr. Wang joins LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF) board as a representative of Ganfeng Lithium. He joins the company with vast experience in sales and marketing of lithium products. Mr. Evans, on the other hand, joins the company with 20 years of operational and management experience after serving in various industries.

In Wednesday’s trading session, LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF)’ stock was up by 3.63% ending the day at $0.7458 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $LACDF and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

NYSEMKT:LODE

Non-mining Land Valuations Prominent in Comstock Mining Inc (NYSEMKT:LODE)

Comstock Mining Inc (NYSEMKT:LODE)

Comstock Mining Inc (NYSEMKT:LODE) shares were up almost 15% on heavy volumes today. LODE shares closed yesterday sitting on their 52-week lows of $0.13 per share. Today the mining shares rose to $0.16 before closing at $0.15. Comstock Mining Inc (NYSEMKT:LODE) shares has a 30-day, daily average volume figure of 358,500 shares traded per day. Today LODE shares exchanged hands over 3.5 million times – over ten times the average.

Comstock Mining Inc (NYSEMKT:LODE) considers themselves a sector leader in environmentally responsible mining. Their land holdings are located in Northern Nevada – close to Lake Tahoe. This location figures prominently in the company’s valuation. Somewhat uniquely, the lands that Comstock has mining interests in also have a value outside of mineral exploitation. In a moment that certainly raised some eyebrows, Comstock’s CEO, Corrado De Gasperis, explained in the company’s Q1 conference call that their 8,000+ acres of land interests were in the same locale as recent, multi-million dollar land purchases by Google, Apple, and Tesla.

Comstock Mining Inc (NYSEMKT:LODE) believes the mineral assets to be worth around $450 million. They believe, based on recent transactions, their non-mining lands to be worth $50 million. Comstock Mining Inc (NYSEMKT:LODE) produced 15,451 ounces of gold and 221,723 ounces of silver in 2015, and 4,086 ounces of gold and 75,657 ounces of silver in 2016. Grade remained at 0.025 ounces of gold per ton and 0.436 ounces of silver per ton. For FY2016, operating cost applicable to mining revenue was $5.7 million, $4.5 million net of silver by-product credits as compared to $14.2 million, $10.7 million net of silver by-product credits in 2015. This 60% cost reduction is primarily a result of lower labor and processing costs due to the transition from surface mining to underground exploration and development and higher experienced metallurgical yields.

LODE shareholders have experienced an EPS loss every year. In 2012 the loss was (-$0.87) per share. That loss continued, but shrank, every year since and was (-$0.07) per share in 2016. Unfortunately, dilution has been a nemesis for LODE shareholders as the company raised cash to fund exploration and operations. In 2012 there were 40.5 million shares outstanding and that number grew to 176.63 million shares by the end of 2016.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. All information, or data, is provided with no guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

MMEX Resources Corp (OTCMKTS:MMEX)

MMEX Resources Corp (OTCMKTS:MMEX) Inks Major Deal

MMEX Resources Corp (OTCMKTS:MMEX)

Shares of MMEX Resources Corp (OTCMKTS:MMEX) rose after the energy company released news of a $3 million investment in the firm by Crown Bridge Partners, LLC. MMEX announced, at the same time, plans to build a 10,000 barrel-per-day (BPD) refinery near Fort Stockton, TX. The refinery is a smaller-scale version of the $450 million, 50,0000 BPD unit the company had previously announced it was building earlier this year. MMEX management believes that the permitting of the smaller facility will accelerate the permitting process for the entire project. Crown Bridge Partners LLC will fund development expenses of the project on an as-needed basis. Construction is set to begin in early 2018 and is expected to last fifteen months.

News sent the shares higher by over 12.5% but volumes in MMEX shares on the OTCPink exchange increase by more than ten-fold. MMEX has a 30-day, daily average volume of 11.5 million but today over 160 million shares traded hands. MMEX shares ended the day at $0.0095. MMEX shares have a 52-week low of $0.0001 and a 52-week high of $0.0563.

Jack Hanks, CEO of MMEX Resources Corp (OTCMKTS:MMEX), will be giving a presentation on the company’s future in Roscoe, TX tomorrow. The presentation will cover the afore-mentioned refinery, the markets it will serve, and the economic impact to the area which will result from the 400 jobs that will be created.

Hanks commented “As crude production levels throughout the Permian Basin and demand for crude products in western Mexico and South America have both continued to rise, the need for refining facilities throughout West Texas has become paramount. MMEX Resources Corp. is pleased to be joining energy thought leaders from across the state to explore the recovery of America’s oil and gas industry and how MMEX’s Pecos County refinery project can play a part.”

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. All information, or data, is provided with no guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Clean Energy Technologies Inc. (OTCMKTS:CETY)

Clean Energy Technologies Inc. (OTCMKTS:CETY) Sets Up European Call Center

Clean Energy Technologies Inc. (OTCMKTS:CETY)

Clean Energy Technologies Inc. (OTCMKTS:CETY) is targeting more sales in Europe, having set up a new 24/7 Call Center and support Field Service Personnel. The new CETY Europe Sales and Service Center is based in Silea (Treviso), Italy will include support for commissioned 65 Clean Cycle installations.

European Sales Push

The developer of clean energy products and solutions says it has identified substantial unmet, market needs that it plans to address with the new Call Center. However, the big goal is to use the center to grow European footprint with an eye on customers in the UK, Germany, Italy, Ukraine, and Croatia.

The new Call Center will be the service hub for the company’s Clean Cycle Heat Recovery Solutions Waste Heat Generators. The system is designed to capture waste heat from things like Turbines landfills and Reciprocating Engines.

“It was imperative for us to have a service center close to our customers, to increase our efficiency and response time and reduce shipping time and associated costs by maintaining a managed inventory in Europe,” said CETY Director of Operations, Jamie Burrows.

The service center in Italy according to the chief executive officer, Kam Mahdi, is part of a strategic plan that targets expansion in the European incentive markets. The executive expects the center to help accelerate the absorption of the company’s products and services while also improving customer service.

Aries Clean Energy Deal

Europe is not the only market that Clean Energy Technologies Inc. (OTCMKTS:CETY) is targeting as part of its push to grow sales. The company’s three Clean Cycle heat recovery solutions have successfully been commissioned in Lebanon Tennessee.

The solutions are being used as part of a “waste to energy” plant constructed by Aries Clean Energy – the biggest of its kind in the world. Upon completion, the plant should be able to generate 420kWs of electricity daily through the gasification of 64 tons of waste. In addition, the plant will produce high carbon content biochar that will be sold for agricultural and industrial use.

“We expect this facility to be a model for next-generation waste-to-energy partnerships. We at CETY are proud to be a key part of the efficiencies of this integrated system. Worldwide there is a need for effective waste solutions, particularly those that can produce valuable byproducts, such as clean energy,” said Mr. Mahdi.

Clean Energy Technologies Inc. (OTCMKTS:CETY) shed 26.52% in market value in Thursday’s trading session to end the day at $0.0194 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CETY and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

LITHIUM AMERICAS C COM NPV (OTCMKTS:LACDF)

General Moly, Inc. (NYSEMKT:GMO) Shares Jump

General Moly, Inc. (NYSEMKT:GMO)

General Moly, Inc. (NYSEMKT:GMO) shares popped by 45% today on heavy volumes. GMO shares closed Wednesday at $0.30, jumped above $0.36 within an hour then traded sideways until the last hour of trading when they jumped from $0.36 to $0.44. Volumes were heavy – over eight times their 30-day, daily average at over 1.2 million.

The company is based in Lakewood, CO and was formed in 1925. General Moly, Inc. (NYSEMKT:GMO), and its subsidiary, Eureka Moly, LLC, explores, develops, and mines molybdenum and copper in the United States. One of its key assets is an 80% interest in the Mt. Hope project which comprises 13 patented lode claims and one mill site claim with “proven and probable” molybdenum reserves totaling approximately 1.4 billion pounds located in Eureka County, Nevada.

Since 2013, General Moly, Inc. (NYSEMKT:GMO) has produced no revenues. In 2016 the mining company had an operating loss of $7.13 million. At the end of 2016, General Moly, Inc. (NYSEMKT:GMO) had cash on hand of $8.47 million and reported intangible assets of $213.52 million. Net income was listed at -$8.09 million. In 2012, the EPS loss was (-$0.11). That loss was followed by losses of (-$0.18), (-$0.12), (-$0.16), and (-$0.02) in 2016.

Despite the lack of revenues, General Moly, Inc. (NYSEMKT:GMO) has gained over 73% YTD but just 6.1% for the year. Rodman & Renshaw have a “Strong Buy” rating on GMO shares.

General Moly, Inc. (NYSEMKT:GMO) will participate and meet with investors at the Marcum Microcap Conference in New York on June 15 and 16, 2017. In his presentation, Mr. Hansen will provide an overview of the Company and its major assets in Nevada, the Mt. Hope Project, one of the largest and highest grade primary molybdenum deposits in the world, and the previously mined Liberty Project. He will also discuss the unsustainability of current low molybdenum prices amidst improving long-term fundamentals in the molybdenum market,

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. All information, or data, is provided with no guarantees of accuracy.

Don’t miss out! Stay informed on $GMO and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

MOLORI ENERGY INC COM NPV (OTCMKTS:MOLOF).

Unusual Price and Volume Action for EnerJex Resources Inc (NYSEMKT:ENRJ)

EnerJex Resources Inc (NYSEMKT:ENRJ)

Nano-cap EnerJex Resources Inc (NYSEMKT:ENRJ) is an independent oil and gas exploration company based out of San Antonio, TX. Today its share volume exploded and ENRJ shares gained 88% at their highs ($0.47) before closing at $0.28 for a daily gain of almost 16%. Volumes were heavy. The 30-day, daily average volume for ENRJ shares is 273,000 but today over 3.75 million shares traded hands.

What EnerJex Does

EnerJex Resources Inc (NYSEMKT:ENRJ) focuses on the acquisition and development of oil and natural gas assets located in Colorado, Kansas, Nebraska, and Texas. EnerJex owns oil and gas leases covering over 100,000 acres in these states. They claim they have identified over 500 drilling sites on its leases that could be characterized by long lived reserves with low production decline rates. This includes its lease in the Denver-Julesburg Basin which has exposure to the horizontal Niobrara and Codell plays in Weld County, CO.

Today’s Price Action

EnerJex Resources Inc (NYSEMKT:ENRJ) opened today at yesterday’s closing price of $0.25. At 10 AM EST, ENRJ shares began their ascent and around 10:45 AM ETS, ENRJ shares had almost doubled to $0.47. However by 11:30 AMETS, the shares had receded back to under $0.30 where they remained for the rest of the day until they closed at $0.28. Street speculation surrounds the covering of short positions the reason for the spike and then decline. This would be a logical explanation given the increased volumes and a total lack of news concerning the firm. A thorough search of the internet revealed no news about the company’s operations or finances that could help explain the price action.

History

EnerJex Resources Inc (NYSEMKT:ENRJ) has had declining sales since 2014 when the company reported a figure of $14.3 million. In 2015 that number shrank to $4.9 million and then shrank again in 2016 to $2.5 million. Interestingly the (-$6.50) EPS loss in 2015 also shrank in 2016 to (-$1.92). Meanwhile the number of outstanding shares stayed about the same from 2015 (8.27 million) to 2016 (8.42 million).

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. All information, or data, is provided with no guarantees of accuracy.

Don’t miss out! Stay informed on $ENRJ and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Harmony Gold Mining Co. (ADR) (NYSE:HMY)

K92 MNG INC COM NPV (OTCMKTS:KNTNF) Raises C$16 Million

K92 MNG INC COM NPV (OTCMKTS:KNTNF)

K92 MNG INC COM NPV (OTCMKTS:KNTNF) has entered into an agreement with a number of syndicate agents through Clarus Securities. Under the terms of the agreement, the agents have promised to raise up to C$16 million through an offering that involves the sale of 20 million units of the company.

C$16 Million Financing

Each unit comprises one common share priced at $C0.80. The Unit also consists of one Warrant entitling holders to the purchase a common share at an exercise price of $1.05.

The exploration and mining company plans to use proceeds from the offering to finance its exploration works as well as for general corporate purposes. The offering will close no later than June 21, 2017, subject to fulfillment if certain conditions.

Kora Deposit Discovery

The timing of the offering could not have been better, given that K92 Mining has discovered a high-grade extension of gold mineralization in one of the drill holes at the Kora Deposit. Given that result, the company is currently accelerating the exploration of 9 other holes in the initial drill study.

Kora is a large and high-grade deposit area that K92 Mining believes is open for expansion in every direction. It also has an inferred resource of about 4.36 million tones made up of 7.3 g/t Au, 35 g/t Ag and 2.23% Cu.

K92 MNG INC COM NPV (OTCMKTS:KNTNF) remains confident of commencing production in the first half of 2018 given that the area is considered highly prospective.

“The results from the first hole drilled by K92 on the Kora Vein System and first drilled from underground can only be described as outstanding […].The implication is that there is potential for this high-grade Kora Deposit to become much larger. With today’s results in hand, we will push the Kora drive at an increased pace and with an expanded drilling program,” said the chief executive officer, Ian Stalker.

AGM

Separately, K92 MNG INC COM NPV (OTCMKTS:KNTNF), in a press release, reports shareholders unanimously approved all the items put forward by the board of directors at an annual General Meeting held on May 24, 2017. All seven proposed individuals were nominated to the board of directors with the shareholders also approving the appointment of PricewaterhouseCoopers as auditors of the company. Shareholders also approved a new stock option plan.

K92 MNG INC COM NPV (OTCMKTS:KNTNF) stock shed 12.51% in market value to end Wednesday at $0.579 a share. The stock is currently trading at the lower end of its tight trading range of between $0.56 and $0.64 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $KNTNF and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Zion Oil & Gas, Inc. (NASDAQ:ZN)

Zion Oil & Gas, Inc. (NASDAQ:ZN) Shares Up On Israel News

Zion Oil & Gas, Inc. (NASDAQ:ZN)

Zion Oil & Gas, Inc. (NASDAQ:ZN) has begun drill works at a deep onshore well in the Jezreel Valley, Israel. The company has contracted the services of Halliburton Company (NYSE:HAL), Baker Hughes Incorporated (NYSE:BHI), and Weatherford for the project. On site is a 3,000 HP capacity draw-work that has the ability to drill over 7,000meters.

Zion Oil Gas Israel Operations

Depending on the outcome of the current drill works Zion Oil & Gas, Inc. (NASDAQ:ZN) remains confident of pursuing more wells in the area subject to adequate cash reserves.

“It has been a complicated and difficult multi-year journey to get to this point, but our entire team is very excited to see this project finally come to fruition. We anticipate drilling through at least four different geologic strata with oil and gas potential,” said CEO, Victor Carrillo

A 2015 study for Zion Oil & Gas, Inc. (NASDAQ:ZN) showed that up to 6.6 billion barrels of oil remains to be found in the area.

In view of the activity in the Jezreel Valley, the company has appointed Mr. Jeffrey Moskowitz as the General Manager for the Israel Branch. The certified attorney is tasked with the responsibility of overseeing the company’s in-country operations after having been a trusted legal advisor.

Stock Unit Option

Separately, Zion Oil & Gas, Inc. (NASDAQ:ZN) has completed a new stock unit option under its Dividend Reinvestment and Common Stock Purchase Plan. Each unit on offer is priced at $250 and is comprised of shares of ZN Common stock. The company is also offering 25 common stock purchase warrants with each warrant affording participants an opportunity to purchase ZN common stock at an exercise price of $1.

The warrants will become exercisable starting August 14, 2017, through August 14, 2020. However Zion Oil & Gas retains the right to provide a 60-day notice for early warrant termination if the stock price trades above $5 per share for 15 consecutive days.

“In anticipation of finally spudding our long-awaited Megiddo-Jezreel #1 well, we are launching our new $250 Unit Option that enables potential investors to quickly and easily play a part in Zion’s mission for Israel’s energy independence,” said Mr. Carrillo.

Zion Oil & Gas, Inc. (NASDAQ:ZN) was up in Tuesday’s trading session, having rallied by 17.7% to end the day at $1.79 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ZN and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

US COBALT INC COM NPV (OTCMKTS:SCTFF) Starts Exploration at Iron Creek

US COBALT INC COM NPV (OTCMKTS:SCTFF)

Works at US COBALT INC COM NPV (OTCMKTS:SCTFF) Iron Creek Cobalt mine in Idaho have begun after the company signed an exploration and drilling service contract with Timberline Drilling. Under terms of the agreement, the contractor is to drill a minimum of 30,000 feet into the patented lode mining claims.

Idaho Mine Exploration

The exploration mining company is using the drilling campaign to confirm cobalt mineralization in the area. Previous studies had indicated that the property could contain up to 1,279,000 tons of 0.59% cobalt. Plans are in place to conduct geophysical surveys over the mineralized zones as part of an effort that seeks to identify additional drill targets.

“The company has made excellent progress utilizing the enormously detailed and thorough data provided by our predecessors on the Property. We are excited to more clearly delineate this exciting story and move towards not only quantifying current workings but also examining the potential for considerable expansion. The $5.2M we have raised in the last four months, along with the fact that we are working on the private ground, will allow us to move forward quickly,” said CEO, Wayne Tisdale.

 Private Placement

Separately, US Cobalt has completed a non-brokered private placement of units for its common stock. During the offering, the company issued 2 million units at a price of $0.85 a share. Each unit at the offering comprised one common share and one common share purchase warrant.

During the offering, one director of US COBALT INC COM NPV (OTCMKTS:SCTFF) purchased 970,000 units. The company is planning to use the net proceeds to finance exploration works at the Iron Creek cobalt mine. Part of the amount is to be used for general working capital purposes.

US COBALT INC COM NPV (OTCMKTS:SCTFF) recently changed its name from Scientific Metals Corp – a move that the management says highlights a new corporate focus. The name change does not in any way affect shareholders rights.

“We are excited to announce the rebranding of the Company from Scientific Metals Corp. to US Cobalt Inc. This change highlights the corporate focus we’ve undertaken at our flagship Iron Creek cobalt project in Idaho, USA. We believe strongly that the demand for home-grown and ethically sourced cobalt will continue its meteoric rise,” said Mr. Tisdale.

US COBALT INC COM NPV (OTCMKTS:SCTFF) stock dropped in Monday’s trading session, shedding 7.31% in market value to end the day at $0.648 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $SCTFF and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.