Quantum Cobalt Announces Financings, Prepares for Sampling at Nipissing Lorrain

VANCOUVER, BC / ACCESSWIRE / December 28, 2017 / One of the most active mining companies this past week is Quantum Cobalt Corp. (CSE: QBOT) (OTC PINK: BRVVF), during which the company received impressive sampling results at one of its flagship cobalt properties, announced two strategic financings, and unveiled further plans for another high-grade cobalt property.

On Monday, Quantum Cobalt received sample grades of up to 10.59% cobalt from its Kahuna property in Ontario. This is impressive because a grade like this is almost unprecedented within the mining space, especially since its neighbour, First Cobalt Corp. (FCC) (FTSSF), only returned a high of 3.76% on its project.

In fact, a double-digit cobalt grade is one of the highest in the world, if not the highest. Even a grade of 0.5% cobalt is considered valuable within the industry.

Quantum Cobalt then followed up with two financings totalling $2.5 million, the second of which was arranged at a price of $2.00 a share, which is higher than what the company is currently trading at ($1.72). This means that company management is extremely confident in its operations and investor demand for its equity.

On Friday, the company released its upcoming plans for the Nipissing Lorrain cobalt property, also located in Ontario. This property is the company’s main focus this month, as it was just acquired last month for $1 million. Quantum has begun planning a preliminary sampling program at the property to gather materials and information needed for a mineral resource estimate.

During its most recent sampling at Nipissing Lorrain, 28 samples were collected and 15 were analyzed, with sampling results averaging 2.33% cobalt and a peak grade of 8.33%. As with the Kahuna project, the 8.33% cobalt grade is also considered one of the highest in the world.

The company’s stock has also been on the rise. It went from its support level of $1.63 this week to as high as $1.74. The simple moving averages are also showing a bullish signal, so a move toward $2.00 is a strong possibility.

What’s more interesting is that the area in which Quantum’s projects are located has drawn a lot of attention within the mining industry this year. A historical mining town in Ontario named Cobalt has been revived by the increasing market interest in the namesake metal because of cobalt’s importance in electric car batteries. Dozens of companies have already gathered in this mining camp looking to capitalize on a metal that is currently priced at a 9-year high.

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