Melbourne, Australia–(Newsfile Corp. – March 31, 2020) – Jervois Mining Limited (ASX: JRV) (TSXV: JRV) (OTCQB: JRVMF) (FSE: IHS) (“Jervois” or the “Company”) is pleased to announce it has strengthened senior management at the Idaho Cobalt Operations (“ICO”), with Mr Jess Birtcher joining the team in Salmon, Idaho as Finance Manager.
Mr Birtcher is an experienced resources executive and joins Jervois from Coeur Mining (“Coeur”) (NYSE: CDE), which operates five precious metal mines in North America and is listed on the New York Stock Exchange. At Coeur, Mr Birtcher held the roles of Vice President – Internal Audit (from 2017), and Vice President – Corporate Controller (from 2013).
Prior to his roles at Coeur, Mr Birtcher spent seven years as Finance Director in Rio Tinto’s North American business unit and was a senior audit manager with Ernst & Young for 10 years.
Despite uncertainty created by the COVID-19 pandemic, Jervois is finalising a Bankable Feasibility Study for ICO, and is progressing its debt financing process. COVID-19 has demonstrated why United States industry and its supply chains require secure access to physical cobalt without reliance on the Democratic Republic of Congo or China. Restarting construction at ICO will create Idaho employment and demand for United States manufactured capital goods, at a critical time to support economic recovery.
Jervois continues to streamline its operating footprint in response to COVID-19. As outlined on 17 March 2020, the Company had A$8.15 million cash which represents adequate liquidity to continue operations for more than 12 months.
On behalf of Jervois Mining Limited
Bryce Crocker, CEO.
For further information, please contact:
Investors and analysts:
EGM Corporate Affairs
Cell: +1 604 551 9665
Mob: +61 420 582 887
Jervois is focused on becoming a key supplier of raw materials for lithium-ion batteries, in particular cobalt, nickel and copper. The Company owns a partially constructed cobalt mine in Lehmi county, Idaho, United States, the Idaho Cobalt Operations (“ICO”). ICO has had approximately US$100 million invested to date and when it is commissioned in Q4 2021 it will be the only producing cobalt mine in the United States (the United States Government has designated cobalt a critical mineral). ICO has the largest compliant mineral resource in the United States and is amongst the highest grade cobalt deposits globally. The Company also owns the Nico Young nickel-cobalt deposit in New South Wales, Australia (over which a NI 43-101 Preliminary Economic Assessment was prepared in 2019) and a large package of prospective exploration tenements in Uganda, East Africa.
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