I think the problem with cobalt is that a lot of "explorers"...

I think the problem with cobalt is that a lot of "explorers" have suddenly switched to searching for cobalt or finding any historical results and shouting that they have x% cobalt, which really muddies the waters and prevents capital from being allocated efficiently (i.e. to the companies with the best resources/highest chances of success).

There's also a lot of people running around asking questions like "What's a good cobalt grade?", and not understanding deposit types (e.g. laterite vs VMS) or things like CuEq, ZnEq or CoEq. I suspect quite a few of these people might have done their dough and moved onto the next big thing.

We'll see what this means for the quality stocks in the sector over the next six months.