I've spoken with some analysts about Cobalt. Consensus is the sharp drop in price has been due to an unprecedented increase in artisanal supply combined with a generalised drop in commodities - when prices hit $35-40 just about every man and his dog in the DRC quit their job and headed for the nearest cobalt mine.
The good news is we are hitting a nadir in price and as the artisanal supply dries up, prices will head north again.
Depending on EV uptake, it's looking like a good 1-2 years before we start to head towards long term structural deficits - that's what strategic partners (like LG) will be aware of once the JV issue is dusted.
Joe will have his work cut out, but to the brave go the spoils.
I've spoken with some analysts about Cobalt. Consensus is the...
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Last
9.0¢ |
Change
-0.003(3.23%) |
Mkt cap ! $37.95M | |||
| Open | High | Low | Value | Volume |
| 9.2¢ | 9.2¢ | 8.8¢ | $68.42K | 762.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 113448 | 8.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.0¢ | 30976 | 1 |
View Market Depth
| Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
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Last
9.0¢ |
Change
-0.003 ( 0.11 %) |
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| Open | High | Low | Volume | ||
| 9.0¢ | 9.1¢ | 8.8¢ | 342330 | ||
| Last updated 15.48pm 02/05/2024 ? | |||||
| COB (ASX) Chart |