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Cobalt's on the move, high grade lithium batteries for cars and shit need it, the current supply is not enough. Got this from a HC thread about cobalt companies that have the best deposits.
>The Katanga mine in DRC (largest cobalt mine in the world) is closed until middle 2018 due to maintenance. This leaves only the virtual producers that are specialized on cobalt pure-play for the investors to achieve near-term profit. Here is a quick run-down of the trending virtual producers.
>Formation Metals (FCO.TO) - Idaho Cobalt Project, hyped due to Tesla Gigafactory vicinity (Nevada), promotes itself with ethical mining, safety and responsibility, however other than economic studies they offer not much information about their deposit, other than estimated reported resources which are not particulary impressive in comparison with the resources elsewhere.
>Broken Hill Prospecting (BPL.AX) - still lacks a JORC compliant study to further provide economic viability, the scoping studies for cobalt are years out of date, it will need current information for further assessment. The scoping study shows the deposit being fairly vertical with mineralisation occuring to 300m of depth, thus drilling and maintenance being a production cost factor.
>Conico (CNJ.AX) [50% JV with BAR.AX, a gold miner] - Mt. Thirsty, potentially 4th in the world by obtainable cobalt resource, is 50% owned, operated and managed by Conico (CNJ.AX), the companies tangible book value exceeds their SP (0,02 SP – 0,05 TBVPS). The orebody is relatively flat lying with an average thickness of 12m and an average depth below surface to the top of the orebody of 14m, deeming the production costs lower due to lack of necessity for extensive drilling.
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>>1348230
Interesting. Didn't realize cobalt had industrial applications in batteries.
Formation Metals is a Canadian company and you can probably find their assay and geology reports here, for those interested:
http://www.sedar.com/homepage_en.htm
They are obligated to use a qualified geologist to formulate a technical report on their prospect.
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>>1348264
Ah, found it, you can view all their investor disclosure documents, chronologically sorted, here:
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00007056
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>>1348230
CNJ confirmed new /biz/ meme stock
Cobalt ftw lads
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I've known about CNJ since 3 months but sadly I am unable to buy it. It hasn't moved much since then though. It fluctuates around 3c
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>>1348332
I too am unable to buy it, but it seems like a good buy
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>>1348332
>>1348370
Why can't you buy it?
Australian Stock Exchange not available through your brokerage?
Tangentially, has anyone made money in mining in the past 10 years at all?
These miners advertises rates of return on capital of like 22% based on some pretty damn optimistic estimates of metal price and nebulous ore grades.
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>>1348374
>Tangentially, has anyone made money in mining in the past 10 years at all?
conventional metals, not really. technology metals like lithium yes, a lot of money in 2015 and 2016 alone, with cobalt we'll see if the supply is really inadequate as experts say it is. demand will most certainly be there, all smartphones, laptops, electric-cars need a lithium-cobalt-battery, since it main quality is that it lasts the longest of any rechargeable battery on the market.
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>>13483im holding cnj, gxy and bar i will write more on daylait.com
be sure you are buying at least 500 AUD worth of the stock .. unsless you cant buy ASX stock
>these stocks to the moon
>DYOR
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>>1348230
LWP also bought some patents regarding batteries and what not.
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