According to U.S Geological Survey (USGS.gov), annual production of Cobalt for 2016 year, is 123,000t, 53% from DRC which has a high sovereign risk, China is the biggest cobalt consumer but with only 6% production. China's cobalt reserve is only 80,000t.
Today, CLQ has attracted a Chinese company to invest $81m at premium price for strategic purpose.
ARL, has largest cobalt resource 386,400t (more than 4 times of China's cobalt reserve) in the developed countries, may attract some interest soon, imo.
World COBALT production and reserves:
https://minerals.usgs.gov/minerals/pubs/commodity/cobalt/mcs-2017-cobal.pdf
World LITHIUM production and reserves:
https://minerals.usgs.gov/minerals/pubs/commodity/lithium/mcs-2017-lithi.pdf
Largest cobalt resource with lowest valuation, page-62
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