Goldsky Resources (TSX-V:GSKR) has entered into a memorandum of understanding (MOU) with Ocean Partners to evaluate cobalt recovery from its Rajapalot Gold-Cobalt Project in Finland.
The agreement provides a framework to assess the technical and economic viability of a cobalt recovery circuit and processing facility, as well as potential commercial arrangements for concentrate production, marketing, and offtake. Under the terms of the MOU, Phase 1 development costs—including sample generation, transport, laboratory work, and supervision—will be split between the two companies.
Goldsky CEO Russell Bradford says the MOU aims to determine the ideal processing flowsheet for cobalt recovery and assess potential commercial pathways for concentrate sales.
“Our Rajapalot project has a strategic cobalt component that enables us to potentially qualify as a critical metal producer as defined by the European Union’s Critical Raw Materials Act. This will be an important advantage for us from the perspective of permitting the Rajapalot Project into production,” Bradford says.
The companies will assess cobalt recovery from Rajapalot mineralised material, the technical and economic viability of a dedicated processing facility, and potential marketing and offtake arrangements for any concentrate produced. They will also consider concentrate blending opportunities and Ocean Partners’ involvement in future project development.
The companies say the MOU facilitates information sharing during the evaluation stage and does not commit either party to a transaction, financing arrangement, or construction project. Any future commercial agreement would depend on the outcome of the technical and economic assessments.
Goldsky Resources is a Nordic-focused exploration company headquartered in Vancouver, Canada.
Ocean Partners is a UK- and US-based company providing metals marketing, concentrate blending, offtake, and project financing services.
Write to France Pinzon at Mining.com.au
Images: Goldsky Resources
