It's cheap as chips, they have $16.67m at bank & the MC is $35m
It is worth a lot more than 4.2c, but the instos and some big money players have been driving down the price of all the cobalt and lithium juniors all year. After their blow off tops late last year.
They (global instos) have been greatly assisted by a number of market scenarios this year. Beginning with the downturn in base metals which started in mid Jan, then the first correction in US major indices (and then everything else) beginning on 26th Jan, and it has just gone on from there, and I don't know of any cobalt or lithium juniors that have escaped this smashing.
The demand from battery manufacturers which will grow exponentially in the next few years will really begin soon, but their demand is latent right now, and the cobalt and lithium juniors were way overpriced after the sector wide bubble late last year, so it has been a great opportunity for some to enter the market at bargain basement prices.
If you didn't take profit on your cobalt and lithium juniors early this year, you will have watched a lot of profit evaporate, or worse, if you were a late bull you could be deep in red.
I have been using the Etf LIT as a proxy for the sector (it is 42% lithium but also 58% battery manufacturers including Tesla), it is a very good proxy for most of the cobalts and lithiums, take a look at a few charts and compare them with LIT.
Hopefully LIT is finding (has found??) a bottom at the present.
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