Global Cobalt dissolves Iron Creek lease agreement

(Before It's News)

Global Cobalt‘s (CVE:GCO) lease agreement with Chester Mining for Iron Creek project has been terminated, ahead of the demerger of Global Energy Minerals.

The termination clears the way for Global Energy Metals to enter into a new agreement with Chester Mining to acquire Iron Creek, a prospective cobalt property in the Idaho Cobalt Belt Trend located in close proximity to Salmon Idaho.

Assuming shareholders vote in favour of the demerger, Global Energy Metals will focus on mergers & acquisitions (M&A) and project development in battery metals projects, and will gain the rights and all associated technical data for the Idaho based Iron Creek property and the Ontario based Werner Lake property. 

Global Cobalt will continue its attention on the development of the Karakul and the Altai Satellite projects in Russia.

In other news, Global Cobalt said its private share placement, first announced in late April, has now completed, raising C$149,500 from the issue of 2.99mln units at five cents a pop.

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