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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Ecobalt Solutions Inc    ECS   CA27888J1084

ECOBALT SOLUTIONS INC

(ECS)
End-of-day quote. End-of-day quote Toronto Stock Exchange - 07/26
0.28 CAD   0.00%
07/26Jervois Mining - Update on Idaho Cobalt development strategy
AQ
07/25ECOBALT : Jervois Mining Limited - Trading Halt
AQ
07/25ECOBALT : Jervois Mining update on Idaho Cobalt development strategy
AQ
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Jervois Mining takes over Canada's Ecobalt, shares jump

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07/21/2019 | 10:44pm EDT

MELBOURNE (Reuters) - Australian cobalt developer Jervois Mining will take over eCobalt Solutions after shareholders of the Canadian company voted in favor of the deal, Jervois said on Monday.

Jervois will acquire eCobalt in a plan of arrangement that values the deal at C$57.6 million ($44.1 million), and will become the owner of the Idaho Cobalt Project, North America's major cobalt project.

Shares in Jervois climbed as much as 21 percent on Monday to $A0.23. Jervois announced the proposed takeover in April.

The battery minerals developer has been on a buying spree to build itself into a supplier of materials outside of China, which dominates the electric vehicle supply chain. It closed a deal to buy M2 Cobalt Corp, which has operations in Uganda, in June.

Prices for cobalt, a key material used in electric vehicle batteries, have collapsed by 70 percent to around $28,000 a ton over the past year due to a rising tide of supply from the Democratic Republic of Congo. [CCBD3]

However, concerns of unsafe work practices and child labor in the Congo have burnished the allure of sources of the raw material from elsewhere.

(Reporting by Melanie Burton; editing by Richard Pullin)

Stocks mentioned in the article
ChangeLast1st jan.
ECOBALT SOLUTIONS INC 0.00% 0.28 End-of-day quote.-49.09%
FIRST COBALT CORP 0.00% 0.135 Delayed Quote.-20.59%
JERVOIS MINING LIMITED -4.76% 0.2 End-of-day quote.0.00%
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Latest news on ECOBALT SOLUTIONS INC
07/26Jervois Mining - Update on Idaho Cobalt development strategy
AQ
07/25ECOBALT : Jervois Mining Limited - Trading Halt
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07/25ECOBALT : Jervois Mining update on Idaho Cobalt development strategy
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07/22ECOBALT : Shareholders Approve Plan of Arrangement with Jervois
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07/22Jervois Mining Announces eCobalt Shareholder Approval of Merger
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07/21Jervois Mining takes over Canada's Ecobalt, shares jump
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Managers
NameTitle
Michael H. Callahan President, Chief Executive Officer & Director
Scott Bradbury Hean Chairman
Floyd D. Varley Chief Operating Officer
Marc Tran Chief Financial Officer & Secretary
Robert G. Metka Independent Director
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