Timely news....

Timely news.

http://www.theaustralian.com.au/bus...e/news-story/e419d49d8cd59b192cf045fde01cc508

"In slides lodged with the Australian stock exchange before the conference, Mr Friedland said lithium-iron batteries were essentially cobalt and nickel batteries, with the two elements making up about 20 per cent of the cost of the batteries — compared with about 4 per cent for lithium. “Syerston is uniquely positioned as one of the largest and highest-grade sources of cobalt outside Africa,” Mr Friedland, who owns 19.35 per cent of Clean TeQ, said in the slides.
Cobalt prices are up 65 per cent this year and trading at a five-year high of $US37,500 a tonne on the back of their exposure to growth in battery demand. Yesterday, Clean TeQ shares rose 4c, or 6 per cent, to a fresh high of 72.5c, up 42 per cent for the year and giving the company a market value of $347m."

"But Panoramic Resources managing director Peter Harold, who is studying restarting the Savannah nickel and cobalt mine in Western Australia’s Kimberley region, said electric vehicles were also expected to boost demand for nickel and cobalt.
“People have been focused on graphite and lithium, but cobalt and nickel are going to play a big part and I think demand could come on a lot quicker than everybody thinks,” Mr Harold told The Australian yesterday."

"Panoramic last week completed a feasibility study that said Savannah, which was closed last year because of low nickel prices, could restart at a capital cost of just $20m.
Mr Harold said a plan to split the concentrate streams into nickel/cobalt and concentrate could bring the operating costs down to a level where it was economic at current prices."