ECOBALT SOLUTIONS COM NPV (OTCMKTS:ECSIF) Is A Junior Miner With Potential

Today, we need to assess again ECOBALT SOLUTIONS COM NPV (OTCMKTS:ECSIF), the mining company focused on copper and cobalt. Our readers will be remembering well that we wrote a piece about the company on June 25, 2017. It was called "ECOBALT SOLUTIONS COM NPV (OTCMKTS:ECSIF) Is A Top Cobalt Play", wherein the good financial shape of ECSIF and its cash in hand were noted. Also, it was notd that the company was almost ready to commence production.We were obviously not wrong. The share price increased from $0.9 to almost $1.15 in three months. Most importantly, the volume, which is a good measure of market interest, remained high. Some days 400,000 shares changed hands. Have a look at the recent share price action: 1 year chart for ECSIFWhat happened?The new quarterly report and the results of the special shareholders meeting were released in July, which made the share price jump. But, that's not all; the company provided a new feasibility study update in August.Let's revisit ECSIF's business model for those who got to know the company in this article. ECSIF is focused on the exploration of mineral properties. It has been operating since 1988 and owns measured and indicated natural resources of cobalt and copper. It has several projects, but the most significant is in Idaho. A feasibility study executed in 2007 showed large concentration of cobalt metal in this project. Additionally, the construction plans seem to be quite advanced, as by November 2012, two of three stages of construction at the mine and mill site were already finished. Company LogoRecent DevelopmentsRight after we published our last piece, the company announced the results of its general and special meeting. Shareholders representing 31.42% of the total issued shares voted and approved all items of business, including the election of all directors. We need to note changes in the Board of Directors. Chairman of the Board, Robert J. Quinn, an attorney, and Director, Dr. David Stone, an engineer, decided not to continue on the Board.Additionally, we appreciated the finance profile of the new executive elected, David Smith. He is also the Senior Vice-President, Finance and Chief Financial Officer of Agnico Eagle Mines Limited. He brings a wealth of connections to this junior miner.Furthermore, on July 20, 2017, the company released its new 10-Q report for the period ended on May 31, 2017. We appreciated that the company continues to show large amount of cash. Additionally, the amount of assets exceeds largely the amount of liabilities (stated in Canadian dollars):

• Cash and cash equivalents: 17,712,545
• Mineral properties: 24,887,495 21,881,931
• Property, plant and equipment: 40,653,856
• Total assets: 86,425,942
• Total liabilities: 7,256,288

For those willing to calculate the book value per share for checking the weighted average, the number of shares outstanding is 132,542,164.Additionally, on August 9, 2017, the company provided an update on its feasibility study, and the Idaho Cobalt project. We believe that the most significant was said by Paul Farquharson, President & CEO of eCobalt, who noted that new results have to be released soon:

"We are encouraged by the recent progress and preliminary results of the Feasibility Study. As we anticipate results to be filed in September, we are fast tracking key pre-construction activities at the mine site this fall in preparation for the expected recommencement of construction in 2018 after project financing is completed." Source

In the update, several pre-construction activities were noted, including the work on the mile post 8, transportation of stockpiled gravel, installation of temporary power for construction etc. Regarding these activities, we need to note that the United States Department of Agriculture Forest Service was said to be encouraging and moving the status to construction and operational status.Finally, in the same press release, the company noted that after positive Geotechnical Drilling results from the Blackfoot industrial property, the company acquired it. This area will be very beneficial for "its excellent infrastructure including low cost electrical grid power, paved road, adjacent rail, potable water, and access to the local municipal water treatment plant." Finally, access to a large pool of skilled labor was also remarked.Market Reaction and ConclusionCurrently trading with a market cap of $140 million, ECSIF is an exciting story among small caps. We appreciate the new information received regarding the operations in the Idaho project. Additionally, new results may be released soon, which may move the share price. Overall, ECSIF is one junior miner making senior moves.Be sure to check out our coverage on ECSIF!We will be updating our subscribers as soon as we know more. For the latest updates on ECSIF, sign up below!Image courtesy of Steve Dummit via FlickrDisclosure: We have no position in ECSIF and have not been compensated for this article.