Market gets blindsided all the time...but....right in the...

Market gets blindsided all the time...but....right in the middle of COVID-19 in July COB announced: -

“Ore Reserve (Probable) increased 55% to 71.8 Mt at 710ppm cobalt (from 46.3 Mt at 819 ppm cobalt). a Ore Reserve contained cobaltincreased from 38,000 tonnes to 51,000 tonnes (34% increase).”

The Cobalt price has been inching up on tightness, which is about to get even tighter, when you have a massive resource and an all-in sustained cost of US$12.00 / lb those sorts of numbers dawn on even the dumbest market eventually.

It sat for most of 2020 under 10c, all folk had to do was read. You just do not see many of these with such clarity of resource and product cost coupled with a market segment on fire for decades, throw in both privates and governments all full on to kill off ICE with EV’s, that is one very potent mix.

Little fishes are sweet, a nice, measured approach is what I see.

I will be happy enough to see the Pilot Plant progressing in what will be a new world location for pure ethical cobalt, all done in the wonderful Broken Hill area, it is a new venture paying it forward in a place that has done it hard over the last few years.

Cheers

Phil.