The Global Cobalt Sulphate Market is Set to Expand as the Battery Segment Grows

NEW YORK, October 26, 2018 /PRNewswire/ --

According to a report published by Allied Market Research, the global cobalt sulfate market is expected to grow from USD 913 Million in 2015 to reach USD 1,089 Million by 2023, while registering a compound annual growth rate (CAGR) of 1.8%. Cobalt sulfate is inorganic, divalent cobalt salt of sulfuric acid. Based on application, the market is segmented into superalloy, hard facing/HSS & other alloy, magnet, hard material, batteries, and others. The battery segment accounted for the highest shares in the cobalt sulfate market in 2016, while super alloy segment will also account for a major share in the market due to it being widely used in aircraft manufacturing. European Electric Metals Inc. (OTC: EVXXF), Avino Silver & Gold Mines Ltd. (NYSE: ASM), Katanga Mining Limited (OTC: KATFF), Clean TeQ Holdings Limited (OTC: CTEQF), eCobalt Solutions, Inc. (OTC: ECSIF)

Cobalt is one of the key elements to produce lithium-ion rechargeable batteries. Cobalt sulfate is widely used for battery cathodes in storage batteries. Growing demand for lithium-ion batteries for electric vehicles and increasing investments by market players is expected to fuel the growth of the cobalt industry. Asia is currently the largest consumer of cobalt sulfate. It accounted for nearly half of the share of global cobalt sulfate market in 2016. China is the largest market in the Asia region, accounting for approximately two-thirds of the market shares.

European Electric Metals Inc. (OTC: EVXXF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: EVX). Earlier this week, the Company announced that it is, "commencing an underground sampling program over two adjoining parts of the laterite deposit measuring 250m x 45m and 70m x 40m where for the most part the infrastructure is ready. The blocks are accessible and supported by existing underground mining infrastructure. The area has been deemed during company inspections to be in good working condition, and, subject to engineering review, conducive to restarting mining operation.

There is electricity throughout the mine and the track system and air compression systems are in good working order. There is no water issue and the mine is well ventilated with no mechanized ventilation system in place. There are no rockfalls in any areas of the mine. The mine is serviced via hydro-electric power (the mine is on the power grid) and has paved road access nearby the property area with well-maintained gravel roads to the site. The site also has good office infrastructure and various storage/outbuildings that formerly supported previous state-run operation (1985-1990) and operation by current owner from 2008 to 2013 when it was put on care and maintenance.

It is anticipated that the sampling program will be completed within the next 30 days, during which time the Company also intends to engage an engineering firm to conduct geological model and engineering studies focused on restarting operation.

EVX CEO, Fred Tejada, states, 'The infrastructure and development at Skroska is in excellent condition. The recent EVX news regarding elevated cobalt levels describes, in our view, a new discovery within an existing mine. We believe this new cobalt discovery has the potential to positively impact the economics of the project.'

This sampling program is a follow up to the high-grade first phase results announced by EVX on October 11, 2018 via a News Release that described 18 laterite samples collected from 10 different underground locations in Skroska. The assays ranged from 0.05% to 0.54% Co and from 0.36% to 1.92% Ni. Ten of these samples assayed 0.15% Co and above and are shown in the table below. The presence of this cobalt-rich laterite had not been previously recognized at Skroska…

The samples were taken vertically from the pillars/columns of the mine and have widths varying from 0.40 meter to 1.10 meters. Where two samples have the same preceding number (i.e. 7A and 7B) it means they were taken from the same location and are contiguous. The majority of the samples were collected at Level-815 of the underground mine, with three samples taken at Level-850. The sampling program covered a lateral distance of approximately 420 meters. The location of the samples and their corresponding assays are shown in the Company's website (http://www.europeanelectricmetals.com).

The samples were sent to ALS Lab in Serbia for preparation and sent to their laboratory in Ireland for analysis. The analytical suite selected was ME-XRF12n. This analytical suite is suitable in the analysis of nickel laterite samples.

Jose Mario Castelo Branco, EuroGeol, a Qualified Person under the meaning of Canadian National Instrument 43-101 and Chief Geologist of the Company is responsible for the technical content of this news release."

Avino Silver & Gold Mines Ltd. (NYSE: ASM) is a silver and gold producer with a diversified pipeline of gold, silver and base metals properties in Mexico and Canada employing approximately 600 people. Avino Silver & Gold Mines Ltd. recently announced the 2018 - 2019 strategic exploration objectives for the Bralorne Gold Mine located near Gold Bridge, British Columbia which will allow the Company to use the gross proceeds of CDN 6,000,000 raised from the Flow-Through shares offering which closed on April 27th, 2018. This program is the most omprehensive exploration ever performed on the Bralorne Mining Camp with the goal of making further and significant discoveries. This program utilizes industry experts and current state-of-the-art technology to maximize the potential for success in finding new veins and potentially, new economic mineralized zones. With an interest in co-product elements such as cobalt, a small-scale program is planned as a first pass assessment of the potential for Cobalt-Gold mineralization, similar to The Little Gem Cobalt project which is owned by Blackstone Minerals, and which occurs 9 km northwest of the Bralorne property. This sampling is to include multi-element ICP Analysis which has not been previously collected on the property. The initial plan is to collect and analyze approximately 100 stream sediment samples which may be expanded depending upon the results and success of this stage.

Katanga Mining Limited (OTC: KATFF) operates a major mine complex in the Democratic Republic of Congo producing refined copper and cobalt. Katanga Mining Limited recently announced its 2018 second quarter financial results. Katanga's interim Financial Statements and Management's Discussion and Analysis will be available on SEDAR, http://www.sedar.com. Copper revenue increased to USD 204.4 Million in Q2 2018 from USD 146.5 Million in Q1 2018. Copper revenue increased to USD 350.9 Million in H1 2018 from USD 0.03 Million in H1 2017. Cobalt revenue increased to USD 141.1 Million in Q2 2018 from USD nil Million in Q1 2018. Cobalt revenue increased to USD 141.1 Million in H1 2018 from USD nil Million in H1 2017. The increase in copper and cobalt revenue for both periods relates to an increase in sales of copper cathode and cobalt contained in hydroxide due to the resumption of production in December 2017 following the completion of phase 1 of the WOL Project and the ongoing ramp-up of production in 2018;

Clean TeQ Holdings Limited (OTCQX: CTEQF), based in Melbourne, Australia, is a global leader in metals recovery and industrial water treatment through the application of its proprietary Clean-iX® continuous ion exchange technology. Mr. Robert Friedland and Mr. Jiang Zhaobai, Co-Chairmen of Clean TeQ Holdings Limited, and Mr. Sam Riggall, Chief Executive Officer, recently announced the signing of a Heads of Agreement with Metallurgical Corporation of China Ltd (MCC), confirming the selection of MCC as a key project delivery partner for the Clean TeQ Sunrise Project. The selection of an EPC delivery model and the appointment of MCC as a project delivery partner is an important milestone, which is expected to deliver significant benefits, including: Leveraging MCC's strong experience in the design, construction and operation of lateritic nickel/cobalt mining, processing and refining operations; Decreasing the financial and project execution risk to Clean TeQ via the transfer of risk via the EPC contracting arrangements. Clean TeQ's Co-Chairman, Robert Friedland, welcomed the agreement. "MCC and ENFI, part of China Minmetals Corporation, are considered to be some of the world's leading mining and metallurgical construction and engineering groups, and I am delighted that they have been selected as project partners for our Clean TeQ Sunrise Project. There is very strong alignment between MCC/ENFI and Clean TeQ which will ensure we can, together, build and deliver a truly world-class Project," he said.

eCobalt Solutions, Inc. (OTCQX: ECSIF) is a Toronto Stock Exchange listed company committed to providing clean cobalt products essential for the rapidly growing rechargeable battery and renewable energy sectors, made safely, responsibly, and transparently in the United States. eCobalt Solutions Inc. recently announced the successful completion of pilot-level metallurgical testing for the Company's 100% owned Idaho Cobalt Project (the "ICP"), located near the town of Salmon, in the heart of the historic Idaho Cobalt Belt. The ICP remains the sole, near-term environmentally-permitted primary cobalt deposit in the United States. The study verified both the concentrate roasting process to produce a clean concentrate and the exhaust gas management system, which safely captured and removed arsenic and Sulphur from the exhaust gas stream, as designed for vitrification and neutralization, respectively. These results validate feasibility-level detailed engineering of the simplified flowsheet for the Cobalt Production Facility ("CPF") to produce a clean cobalt concentrate, including costing and sizing of equipment. The results support the Company's optimization efforts to reduce technical risk, CAPEX, and OPEX of the CPF in the Optimized Feasibility Study, planned for release this quarter. "Results from the pilot testing have provided a high degree of confidence for the production of a clean, high-value cobalt concentrate for potential off-take partners, further advancing current discussions," commented Paul Farquharson, President and Chief Executive Officer of eCobalt. "With these results we will now proceed with finalization of the Optimized Feasibility Study, which also incorporates data from the optimized mine plan and the February 2018 updated resource model into a new mineral reserve estimate. The successful conclusion to the pilot work achieves a key milestone in our development of the ICP into North America's first primary cobalt producer."

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