Cruz Cobalt Corp (CVE:CUZ) told investors it was about to kick off operations soon at its numerous cobalt properties near the Ontario Cobalt camp. Cruz currently has nine cobalt projects throughout North America. There are five in Ontario, two in British Columbia, one in Idaho and one in Montana.
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"We are very excited at the prospect of starting up operations on our properties located within the Cobalt camp of Ontario,“ said Cruz director, Seth Kay. “We anticipate multiple areas to be worked on as we have flow-through funds on hand and plan to be active in Ontario shortly." Cruz has five separate Ontario cobalt prospects and the company is one of the largest landholders in this emerging district for the resource. Its Ontario projects include the 1,265-acre Coleman cobalt prospect, the 900-acre Johnson cobalt prospect, the 4,980-acre Hector cobalt prospect, the 1,580-acre Bucke cobalt prospect and now the 10,556-acre Lorraine cobalt prospect. Last month, Cruz reminded investors of its position as one of the largest landholders in the emerging Cobalt district in Ontario, having added 305 new claims. "Cobalt prices continue to show strength and have traded to 10 years highs of over $43 per pound in the past month,” said the firm’s president James Nelson. The company boss also highlighted that reportedly Apple Inc (NASDAQ:AAPL) was looking to secure a direct source of cobalt for the batteries in its products.