Northern Cobalt (ASX: N27)
Cobalt plays a critical role in the future of clean energy; a fact that isn’t escaping savvy resource investors.
Rising demand coupled with supply issues is reflected in the sharp jump in the cobalt price over the past twelve months. Rallying sharply from a low of US$10/lb in 2016 to more than US$27/lb today, cobalt has been the year’s standout commodity.
Today’s company has identified the significant upside potential in supplying much needed cobalt and is honing in on cobalt, and cobalt alone.
This up-and-coming cobalt explorer began trading on the ASX today after raising $4.2 million during its IPO. Those funds will support its exploration endeavours for the coming two years and, of immediate relevance, a drilling programme that is scheduled to kick off next week.
The company’s cobalt project comes with an existing JORC 2012 Mineral Resource of 500,000t at 0.17% cobalt and is located in Northern Territory, a mining friendly jurisdiction that has none of the geo-political or ethical issues of cobalt projects in other regions.
The information on this page should not be the only trigger for your investment decision. Click on the links below for a more in-depth and informed examination of the company. We strongly recommend you seek professional financial advice whenever making financial investment decisions.
Cobalt is critical component in the manufacture of rechargeable lithium-ion batteries, which is where half of the world’s cobalt production is used. And that demand is increasing backed by the massive growth that’s ahead for renewable technologies and electric vehicles in particular.
Today’s company is aiming to meet that demand head on as it looks to kick off its ASX life at full throttle.