- Bolt Metals Corp., formerly Pacific Rim Cobalt Corp., is a Canada-based company intent on acquiring and developing battery metal projects because of their critical importance to constrained energy storage supply chains
- Electric vehicles (EVs) are gaining popularity as alternatives to carbon-fueled means of transportation at the heart of the climate change mitigation movement, relying heavily on metals such as nickel and cobalt
- Bolt’s flagship Indonesian project branded Cyclops has been key to the company’s efforts to ferret out a significant source of nickel and cobalt
- A successful 2019 development campaign at Cyclops is helping the company to attract capital for its “ambitious milestones” anticipated during the coming year
Canadian‐based mineral explorers Pacific Rim Cobalt Corp. announced February 24 that the company has changed its name to Bolt Metals Corp. (CSE: BOLT) (OTCQB: PCRCF) (XFRA: NXFE) as part of an ambitious effort to court electric vehicle industry success in China, and throughout Asia where Indonesia is leading the way with its abundant nickel resources.
“Rebranding the Company is an important step in our emergence as a resource developer in Asia’s expanding Electric Vehicle supply chain,” CEO Ranjeet Sundher stated in a news release announcing the name change (http://nnw.fm/H9Lj0). “The Company remains focused on acquiring and developing production grade battery metal projects within the Asia-Pacific region, while employing a vertically integrated ‘mineral-to-market’ strategy to leverage these assets to their fullest.”
The company informed its shareholders that the name change requires no action on their parts – there are no changes in the public exchange tickers and the company is not subdividing, consolidating or otherwise altering its share capital. Rather, the company is simply laying the groundwork for further growth “in every vertical of the EV supply chain, with China leading the way,” according to the news release.
Bolt Metals’ flagship asset, the 100 percent-controlled Cyclops Nickel-Cobalt project based in Indonesia, is operating under a mandate to become a key player in the Asia-Pacific region’s electric vehicle and EV battery supply chain. Lithium-ion batteries have been the dominant force in the varied electronic product markets including EVs for years because of the batteries’ capacity to deliver stable power at low heat levels in a lightweight housing.
EVs and their batteries are at the forefront of global efforts to combat carbon-based pollution that scientists and activists fear could not merely foul the climate for people, but lead to chronically altered climates in which increased heat threatens human habitations and health through a number of factors, including reduced polar ice, higher sea levels, stronger weather systems, plant life changes, the spread of viral diseases, increased allergic responses and greater demands for energy, among other things (http://nnw.fm/x0SGM).
Bolt Metals focus is on developing battery metals projects in an industry-vertical environment because of their critical positioning as components of lithium-ion batteries. Increased global demand for EVs is contributing towardan eventual worldwide resource supply deficit, also due to their popular uses in jet engines, gas turbines, industrial scale renewable energy storage systems and other applications where common stainless steels may not provide adequate performance.
The Cyclops laterite nickel-cobalt property employs an experienced, local workforce at a location close to air and sea transport links. Last year, the company’s extensive exploration and development program at the site resulted in successful advances in determining the location of significant nickel mineralization. That success has made it possible for the company to attract capital it needs “to pursue ambitious milestones in 2020, which include preparations to commission and operate a pilot process test plant in Canada, which will… then be used to establish the design criteria for the subsequent demonstration plant in Indonesia… and to establish the design criteria for a commercial scale plant,” according to the news release.
Bolt’s leadership plans to provide shareholders an update on its efforts to court downstream users and commodity suppliers in China, Indonesia and Korea in the near future.
For more information, visit the company’s website at www.BoltMetals.com
NOTE TO INVESTORS: The latest news and updates relating to PCRCF are available in the company’s newsroom at http://nnw.fm/PCRCF
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