April 3, 2019 / 11:27 PM / 7 months ago

BUZZ-First Cobalt shares surge on battery grade cobalt sulfate production

** Shares of Australia’s First Cobalt Corp rise as much as 35.5 pct to a near five-week high of A$0.210

** Cobalt explorer says here it has successfully produced a battery grade cobalt sulfate

** “With no cobalt sulfate production in North America today, First Cobalt stands to become the first such producer for the American electric vehicle market,” President & Chief Executive Officer Trent Mell said

** Stock posts biggest intraday gain ever

** More than 825,000 shares change hands within the first 15 minutes of trading, compared with the 30-day average volume of about 282,000 shares

** Stock down near 14 pct this year, as of last close

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