- Trends in environmental consciousness continue to shift global demand away from carbon-based cars toward electric vehicles
- Bolt Metals Corp. rebrands marketing strategy as part of plan to become the leading international player in the electric vehicle battery metal sector
- The company’s Cyclops drilling project is aligned perfectly to fit the supply chain criteria for the electric vehicle sector in Asia
A global shift away from carbon-based cars and trucks is pumping billions of dollars into battery-powered electric vehicle (EV) research and related development projects. Bolt Metals Corp. (CSE: BOLT) (OTCQB: PCRCF) (XFRA: NXFE), an exploration company focused on the acquisition and development of production grade cobalt and nickel deposits, is benefitting from the shift as demand for the materials that power EV research surges.
Nickel and cobalt are critical components of lithium-ion batteries used to power EV research. Both materials are currently experiencing a global supply deficit. Over $20 billion has been committed to nickel projects focused on the EV space in Indonesia alone.
Bolt Metals Corp. is redirecting its marketing strategy as it evolves to become a specific player in the expanding EV supply chain in both China and Indonesia, according to CEO Ranjeet Sundher in an interview with NetworkNewsAudio (http://nnw.fm/h1QLn). Sundher is a 25-year veteran of the mining and investor sectors in southeast Asia. Part of that new marketing strategy changed the company’s name from Pacific Rim Cobalt Corp. to Bolt Metals Corp. on February 26, 2020.
Bolt Metals Corp. employs a vertically integrated “minerals-to-market” strategy to leverage its production-grade battery metals projects to their fullest, Sundher said. The company’s flagship project, Cyclops (http://nnw.fm/9Hqmq), is uniquely positioned within Indonesia, the world’s largest producer of nickel, and in proximity to China and features near surface, strong nickel-cobalt mineralization. The property is situated in an area with excellent infrastructure including a nearby workforce, supplies, sealed roads, ocean access, nearby port facility and gentle topography. Nestled on the north coast of Papua, Indonesia, Cyclops establishes the company well within the economically attractive ocean-going transportation range to Asia and its lucrative, growing industrial markets.
From drilling and permitting to processing ore and discussions with offtake partners, the results are promising. Sundher cited the project’s 99% recovery on nickel and 96% recovery on cobalt as two major factors that made 2019 such a pivotal year for the company. Those results provide solid evidence that the Cyclops project is aligned perfectly to fit the supply chain criteria for the EV sector in Asia, as the company’s end goal is to become a key contributor to Asia-Pacific’s rapidly expanding EV and battery supply chain.
Backed by a successful 2019 exploration and development season, the company is pursuing ambitious milestones for 2020, Sundher adds. Bolt Metals Corp. is working to show the market that it brings local know-how and exceptional project generation. “Quite early in our business plan, China’s largest battery manufacturer wanted to do a preliminary offtake with us, which demonstrated that we were in the right country with the right project. In 2020, we hope to take that relationship and several others to the next level,” Sundher explained.
The remainder of 2020 will see continued and consistent development in the company’s strategy as Bolt Metals Corp. continues to set ambitious milestones toward the goal of becoming the leading international player in the EV battery metal sector and creating significant long-term shareholder value. With rich mineral deposits and two substantial markets, Bolt Metals is anticipating a bright 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
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Mr. Garry Clark, PGeo, independent director of Bolt Metals and a Qualified Person as defined by National Instrument 43-101.
The several references to entering into off-take agreements may inadvertently imply that the company has made a decision to proceed to production without first establishing mineral reserves. The company has not made the decision to proceed to production and clarifies that any such statement if made in the future would be made in compliance with Companion Policy 43-101CP, 4.2(6) — Production Decision, which requires details of the significant risks associated with such a decision.
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