Formation Metals Heats Up After Forest Service Contains Wildfire near Idaho Cobalt Mine
Formation Metals Inc. (FCO.TO) is up about 4% after saying the U.S. Forest Service has re-authorized the company to resume limited construction work at its Idaho Cobalt Project (ICP) after containing wildfires near the project site. Work had been shut down for six days due to the Salt Fires in the Salmon-Challis National Forest.
Crews travelling to the mine site currently are restricted to between 6 a.m. and 8 a.m. and between 5 p.m. to 7 p.m., local time. Heavy equipment transfers are being allowed during the overnight hours.
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