Nice one, mate. Go the goblin metal!!!
Benchmark Mineral Intelligence tweeted the other day that forecasted cobalt supply in 2030 = 274k tonnes. Forecasted cobalt demand in 2030 = 476k tonnes. So, 202k tonnes = deficit.
As we know, cobalt is scarce & demand is price inelastic. $100,000 per tonne is highly probable once deficits hit in the coming years.
At US$40/lb, the 2023 EBITDA forecast for the ICO would be US$150m.
On a 10x multiple = US$1.5 billion (AUD$2 billion) MC. SP = approx. $2.50
On a 20x multiple = AUD$4 billion or SP = $5. Getting close to my 30 bags target.
Potentially a lot of bags left in this, but it won't happen overnight. Possible within 2-3 years, though.
Cheers.
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