While lithium seems to be all the rage for ‘green’ battery speculators, the cobalt names on our list have average gains of more than 300% this year
SmallCapPower | September 27, 2016: Cobalt may overtake lithium in terms of energy metal speculation in the coming years. At yesterday’s Advanced Battery Technologies & Metals event at the Mines and Money Americas conference in Toronto, it was cobalt, another large component of the lithium-ion battery, which seemed to dominate most of the discussion. With the majority of current global supply coming from politically-unstable Democratic Republic of Congo (DRC), end users will need to search elsewhere for its cobalt needs. This is what is likely attracting investors to the juniors on our list today.
Fortune Minerals Ltd. (TSE:FT) – $0.14
Diversified Mining
Fortune Minerals Limited is a Canada-based development-stage mining company. The Company is engaged in developing, mining and processing precious and specialty minerals projects. It is focused on NICO gold-cobalt-bismuth-copper project, consisting of a proposed mine and mill in the Northwest Territories that will produce a bulk concentrate for shipment to a refinery that it focuses to construct in Saskatchewan. The NICO Gold-Cobalt-Bismuth-Copper deposit is located in the Northwest Territories approximately 160 kilometers from the city of Yellowknife. The products that will be produced at the refinery include cobalt chemicals used to make rechargeable batteries, bismuth metals and chemicals, as well as gold.
- Market Cap: $36.55 (mm)
- YTD Stock Price Gain: 575.0%
- Working Capital: $111,911
Ecobalt Solutions Inc. (TSE:ECS) – $0.60
Diversified Mining
Ecobalt Solutions Inc, formerly Formation Metals Inc, is a mineral exploration and mine development company. The Company’s primary project is Idaho Cobalt Project (ICP), which is located in the mining state of Idaho. ICP property covers an area of approximately 4,080 acres and includes over 170 mining claims. ICP consists of the mine, mill and concentrator, referred to as the Mine & Mill (M&M) located in Lemhi County outside of the town of Salmon, Idaho, and a hydrometallurgical plant.
- Market Cap: $64.15 (mm)
- YTD Growth: 421.7%
- Working Capital: $ 1.30 (mm)
Caledonia Mining Corporation Plc (TSE:CAL) – $2.21
Gold, Copper, and Cobalt
Caledonia Mining Corporation Plc is primarily involved in the operation of a gold mine, and the exploration and development of mineral properties for precious metals. The Company’s activities are focused on the Blanket Mine in Zimbabwe. Its segments include Corporate, Zimbabwe, South Africa and Zambia. The Zambia segments consist of Nama copper project and cobalt project.
- Market Cap: $116.59 (M)
- YTD Growth: 172.8%
- Working Capital: $15.71 (mm)
