Robert Setter, Fuse President & CEO, called in to SmallCapvoice.com to go over the business model and markets that his Company operates in. Fuse Cobalt Inc. is a well-funded Canadian company whose focused is directed towards exploration of high value metals related to the cobalt battery industry. The Company has two 100% wholly owned properties, Glencore Bucke (subject to a back-in provision, production royalty and off-take agreement) and Teledyne (subject to a 2% NSR) Cobalt Properties, located in Cobalt, Ontario.
The Company will continue to focus on cobalt project development with the intent of developing these projects into operations focused on mining cobalt for use in a variety of end use applications including EV batteries.
Recently, it was announced that Tesla (TSLA) contracted with Glencore to buy cobalt, the key raw material used to make its electric car batteries. This is a strategic move towards increased vertical integration by Tesla and a potential indicator that the cobalt market is heating up.
In the interview Setter stated, “These are exciting times for our company. We are well-positioned to take advantage of the massive growth that we see coming in the battery market for electric vehicles. Cobalt is a key component being used in the majority of the batteries for electric vehicles. In addition, cobalt is considered a strategic metal with the Canadian and the US governments agreeing to work together to secure private sources of cobalt and other strategic metals in North America. We are thankful for the opportunity to share our story with our shareholders and the SmallCapVoice.com listening audience.