Fuse Cobalt

What Fuse Cobalt does

Fuse Battery Metals Inc. is a Canadian junior mineral exploration company focused on identifying and developing cobalt and lithium assets to supply the lithium-ion battery and electric vehicle supply chain. The company holds 100% interest in two adjacent cobalt properties in the historical Cobalt Mining Camp of Ontario, Canada — the Teledyne Property (~785 hectares across 5 patented and 46 unpatented claims in Bucke and Lorrain Townships) and the Glencore Bucke Property (~16.2 hectares across 2 patented claims). It has expanded into lithium with two Nevada assets: the Teels Marsh West Project (100 placer claims, ~809 hectares in Mineral County) and the Lithium Springs Property (108 placer claims, ~858 hectares in Washoe County, acquired February 2023). The core technology is conventional diamond drilling for subsurface delineation of cobalt and lithium mineralization; the Teledyne Property additionally carries legacy infrastructure including a development ramp and 500 ft decline.

The company has no current revenue and is in pre-production exploration. Its prospective business model is the extraction and sale of cobalt and lithium concentrates to refiners and battery manufacturers, with future commercial offtake already contractually committed to Glencore Canada Corporation — the world's largest cobalt producer — under an offtake, NSR royalty (3.5%, half repurchasable for $1M), and back-in arrangement. Glencore's acquisition-related obligations were originally satisfied in March 2018 for $500K plus $250K of exploration expenditures. Go-to-market activities are oriented around investor relations and capital formation rather than product sales: the company maintains multi-channel investor communications, participates in PDAC and similar industry conferences, lists on the TSXV (FUSE), OTCQB (FUSEF), and Frankfurt (43W3), and engages digital media services for awareness campaigns. Its target stakeholders are institutional and retail mining investors as well as future offtake counterparties in the EV/battery materials value chain.

Name

Fuse Cobalt

Legal name

Fuse Cobalt Inc.

Website

https://fusecobalt.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Fuse Battery Metals Inc. is a Canadian junior mineral exploration company advancing cobalt properties in Ontario and lithium properties in Nevada to supply the lithium-ion battery and EV materials supply chain, with offtake committed to Glencore.

Ownership category

akta.pro rank

Product category

Mineral Exploration

SIC

Metal Mining (1000)

akta.pro primary industry

Cobalt Mining & Refining (IMAKAFAC)

akta.pro secondary industries

Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Battery Raw Materials Mining & Refining (Lithium, Nickel, Cobalt, Manganese, Graphite) (EUAFABAA)

Keywords

• Cobalt mineral exploration
• Lithium brine exploration
• Battery metals mining
• Junior mining company
• EV battery materials

Headquarters

HQ city

Coquitlam

HQ country

Canada

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Marketing or Sales, Others

Revenue model

1. Mineral Exploration and Development: Pre-revenue exploration stage company. Future revenue would come from mining cobalt and lithium metals for battery manufacturing. Currently has offtake agreements in place with Glencore for future cobalt production.
2. Mineral Rights Ownership: The company owns 100% interest in cobalt properties (Teledyne and Glencore Bucke) in Ontario, Canada and lithium properties (Teels Marsh West, Lithium Springs) in Nevada, USA. Revenue model based on eventual mineral extraction and sale.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels7 records

Core offering

Fuse Battery Metals Inc. (formerly Fuse Cobalt) is a Canadian mineral exploration company that owns 100% interest in four exploration properties: the Teledyne and Glencore Bucke cobalt properties in Ontario, Canada, and the Teels Marsh West and Lithium Springs lithium properties in Nevada, USA. The company explores for high-grade cobalt deposits used in lithium-ion batteries for electric vehicles and lithium brine and clay deposits in geologically prospective Nevada basins. The company is pre-revenue with future production committed to Glencore under an existing offtake agreement.

Product overview

Fuse Battery Metals Inc. (formerly Fuse Cobalt Inc., LiCo Energy Metals Inc.) is a Canadian mineral exploration company focused on battery metals for EV manufacturing. The company operates two primary cobalt exploration projects in Ontario, Canada (Teledyne and Glencore Bucke properties) and has expanded into lithium exploration with properties in Nevada (Teels Marsh West and Lithium Springs). The Teledyne Property is the core asset with significant infrastructure including a 500 ft development ramp, while Glencore Bucke adjoins Teledyne. The Nevada lithium projects target lithium brine and clay deposits in geologically prospective basins near Clayton Valley.

Differentiator

Problem solved

Functional benefit

Products and services

• Teledyne Cobalt Property Ontario cobalt exploration property located in Bucke and Lorrain Townships, consisting of 5 patented mining claims (79.1 ha) and 46 unpatented mining claim cells (~706 ha). Features valuable infrastructure including a development ramp and modern decline going 500 ft parallel to the cobalt vein. Subject to production royalty and off-take agreement with Glencore Canada Corp. High-grade drill intersections include 21.9% Co over 0.36m and 18.7% Co over 0.15m, plus 5.06% Co over 1.75m in hole TE-1704.
• Glencore Bucke Property Ontario cobalt exploration property consisting of 2 patented mining claims (approximately 16.2 ha) located on the west boundary of the Teledyne Cobalt Project, 6 km east-northeast of Cobalt, Ontario. Subject to back-in provision, production royalty, and off-take agreement in favor of Glencore Canada Corp. 2017 drilling returned 8.42% cobalt in hole GB 17-15 over 0.30 m. Phase 1 drilling in 2017 totaled 1,913.5m.
• Teels Marsh West Lithium Project Nevada lithium exploration project consisting of 100 placer claims covering 2000 acres (809 hectares) at Teels Marsh, located approximately 48 miles northwest of Clayton Valley. Highly prospective for lithium brines and lithium clay deposits. Metallurgical testing indicates greater than 85% Li recovery is possible with low acid consumption.
• Lithium Springs Property Nevada lithium exploration property acquired in February 2023, consisting of 108 placer claims (BRD1-BRD108) covering approximately 858 hectares of playa and alluvial fan at the south end of Black Rock Desert in Washoe County, Nevada.

Quantifiable outcome

• 21.9% cobalt grade over 0.36m intersection at Teledyne Property - highest grade results intersected on Ontario cobalt properties
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor and core.

• Malcolm J. Bell (Lithium Springs Property Vendor)minorOthers · 14 February 2023Purchase and Sale Agreement to acquire 100% interest in 108 placer claims (BRD1-BRD108) covering approximately 858 hectares at Lithium Springs Property in Black Rock Desert, Nevada.
• First Cobalt Corp.coreStrategic or Co-development Partner · 22 December 2020Regional strategic partnership. First Cobalt is developing a cobalt refinery located approximately 1,500m west of Fuse's cobalt properties in Cobalt, Ontario. Canadian and Ontario governments announced $10 million joint investment in First Cobalt's refinery (December 2020). First Cobalt finalized supply arrangement with Glencore for 4,500 tonnes cobalt hydroxide/year from DRC. Once operational, will be North America's only producer of cobalt sulfate for EV market, significantly improving regional cobalt economics for Fuse.
• Dajin Lithium Corp. (TSXV: DJI)minorStrategic or Co-development Partner · 28 July 2020Reciprocal data sharing agreement at Teels Marsh West lithium project in Nevada. Dajin holds adjacent Teels Marsh project comprising 3,202 hectares and 403 placer claims. In 2018, Dajin began construction of roads and drill pads at Teels Marsh valley for drilling four production-sized exploration wells.
• Albemarle Corporation (NYSE: ALB)minorOthers · 7 January 2020Albemarle is mentioned as the operator of the Rockwood Lithium Mine at Silver Peak, Nevada (North America's only producing brine-based lithium mine). In January 2021, Albemarle announced plans to invest $30-50 million to double lithium production at Nevada site by 2025, and to evaluate clays and Nevada resources for commercial lithium production. Teels Marsh West is located approximately 48 miles northwest of Albemarle's Silver Peak facility.
• Glencore Canada CorporationcoreStrategic or Co-development Partner · 5 September 2017Comprehensive partnership including: (1) Acquisition of 100% interest in Glencore Bucke Property (mining rights for patent #585) for $500,000 total ($150,000 on approval date, $350,000 within 6 months) plus $250,000 in exploration expenditures; (2) Off-take agreement for all ores/concentrates produced; (3) 3.5% NSR production royalty (half purchasable for $1M); (4) Back-in option for Glencore to acquire 51% interest if >$100M in-situ value discovery is made. Glencore is world's largest cobalt producer.

Scale indicators11 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• Albemarle Corporation: World's largest lithium producer and a major bromine/specialty chemicals company. Operates the Silver Peak lithium mine ~48 miles from Fuse's Nevada projects, making it the closest producing incumbent and a natural off-take or buyer profile.
• Canada Nickel Company: TSX-listed developer of nickel-cobalt-PGM projects in Ontario. Comparable as a Canadian critical minerals developer pursuing EV battery materials, with broader nickel-cobalt optionality versus Fuse's cobalt/lithium focus.
• Fortune Minerals: Developer of the NICO cobalt-gold-bismuth-copper project in Canada's Northwest Territories. A more advanced cobalt-focused junior with comparable target end-market (EV/refining) and similar exposure to ESG-driven North American cobalt supply.
• Jervois Mining: Operating cobalt producer via the Idaho Cobalt Operation and global refiner. Comparable as a publicly listed cobalt development/production company targeting the EV supply chain, with broader geographic and operational scale than Fuse.

Direct peers

• Electra Battery Materials (formerly First Cobalt Corp.): Operates the only planned North American cobalt sulfate refinery located ~1,500m from Fuse's Teledyne and Glencore Bucke properties. Most direct regional peer as Fuse's offtake economics and strategic thesis are anchored to Electra's refinery success.
• Cobalt Blue Holdings: Australia-listed cobalt developer focused on the Broken Hill Cobalt Project (pyrite-hosted cobalt). Directly comparable as a publicly traded cobalt-focused exploration/development junior pursuing the EV battery cobalt thematic.

Emerging players

• Standard Lithium: TSX-listed lithium developer focused on Arkansas Smackover brine and other U.S. lithium assets. Comparable as a small-to-mid cap lithium-focused developer pursuing the North American battery thematic, though operating in a different basin.
• Brixton Metals: Canadian junior with a portfolio of critical minerals projects including cobalt-silver and copper. Comparable as a small-cap Canadian exploration company pursuing battery and critical minerals opportunities, though more diversified beyond cobalt.
• Cypress Development: Canadian junior developing the Clayton Valley lithium project in Nevada. Comparable as a lithium clay/brine exploration-stage developer in the same Nevada basin as Fuse's Teels Marsh and Lithium Springs assets.

Regional players

• Dajin Lithium Corp. Holds the adjacent Teels Marsh lithium project in Nevada (3,202 hectares) and is in a reciprocal data sharing agreement with Fuse on Teels Marsh West. Most direct lithium counterpart in Nevada's Clayton Valley district.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/FuseCobalt
• Facebookfacebook.com/FuseCobaltInc
• LinkedInlinkedin.com/company/fuse-cobalt-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fuse Cobalt