Sleep easy. This is was what I was looking for...I knew I read...

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gordongreggy

2,238 Posts.

27/02/17

19:37

Post #: 22948205
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Originally posted by BreakingBad01 ↑

If I read today's conference call right, Glencore is hoping for a 2007 repeat on Cobalt price (2-3x from here). With Glencore having cornered much of the cobalt DRC supply, the other biggies would be getting restless to secure potential supplies for themselves elsewhere.

For perspective, the largest developed Cobalt resource (Mutanda, 2mt Cobalt) was recently valued at US$3 Bn in a Glencore transaction. The largest undeveloped resource (ARL) is still going for only US$39m EV...Not saying the two are similar apples ... but there's a long way to go

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Ivan Glasenberg (CEO)
Correct. That is growing and demand is growing. Supply is not -- it's 100,000 tonne market and as Steve says we're currently round about 32,000, 33,000 tonnes. When Katanga comes up, we'll be somewhat higher. We'll be a big percent of that market. Therefore, yes, are a major player there and we have the benefit of that and it has doubled. But remember, cobalt has been $40, $50 not long ago. I think before the crash in 2007/2008, I think that's when it was about $40, $50. Today it's doubled from $10 to $20. Let's see where it goes.
----

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Sleep easy. This is was what I was looking for...I knew I read somewhere Glencore was scooping up Cobalt and cornering the market and here it is....

I reckon this puppy is going to be fought over in time by Glencore, RIO, BHP and Vale (who owned the deposit previously).

ARL and COB will surely retest highs and set new ones IMHO based on the Glencore transaction valuation which is many times are current EV.

Exciting times ahead.

GG

ARL Price at posting: 58.5¢ Sentiment: Buy Disclosure: Held
8 Upvote

0 Great analysis

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