Welcome to the July 2020 cobalt miner news. The past month saw cobalt prices about the same and a busy month of news and good progress from the cobalt juniors.

Cobalt price news

As of July 21, the cobalt spot price was US$12.93/lb, about the same as US13.09/lb last month. The LME cobalt price is US$28,850/tonne. LME Cobalt inventory is 602 tonnes, the same as last month. More details on cobalt pricing (in particular the more relevant cobalt sulphate), can be found here at Benchmark Mineral Intelligence or Fast Markets MB.

Cobalt spot prices – 5-year chart – USD 12.93

5 Year Cobalt Prices - Cobalt Price Chart

Source: InfoMine.com

Cobalt market news

On June 24 Reuters reported:

Tesla’s reluctant commitment to cobalt a warning to others: Andy Home. But Tesla is the standard-bearer for the EV revolution and its deal with Glencore has strategic significance for the global battery raw materials supply chain. It’s a boost for cobalt’s prospects, both in terms of physical demand and, more importantly, in the apparent admission that cobalt isn’t going away as a battery material any time soon. It’s also a warning to other auto companies that if they want cobalt, they’re going to have to take control over their own supply chain…..

On June 24 Investing News reported:

Simon Moores: US domestic supply chain build out “far too slow”. “It is not too late for the US, but action is needed now,” Simon Moores of Benchmark Mineral Intelligence told the US Senate on Tuesday. “A new global lithium-ion economy is being created,” Moores said. “Yet any US ambitions to be a leader in this lithium-ion economy continue to only creep forward and be outstripped by China and Europe.” Looking at the raw materials needed to supply that lithium-ion economy, Benchmark Mineral Intelligence forecasts that by 2029, demand for nickel will double, while demand for cobalt will grow by three times, flake graphite by four times and lithium by more than six times.

Benchmark Mineral Intelligence – Simon Moores’s – Latest forecasts

Source: Benchmark Mineral Intelligence Twitter

On July 7 Bloomberg reported:

Bill Gates-backed company to hunt for cobalt near Glencore mine. A startup backed by a group of tycoons including Bill Gates plans to use data-crunching algorithms to search for cobalt near a Canadian nickel mine owned by Glencore Plc. Kobold Metals has acquired rights to an area of about 1,000 square kilometers (386 square miles) — roughly the size of New York City — in northern Quebec….. It’s the first such foray by the company to become public. San Francisco Bay Area-based Kobold Metals is hoping to use data analytics to build a “Google Maps for the earth’s crust.” The company is betting it can find metals crucial to the electric-vehicle revolution, such as cobalt, that so far have eluded more traditionally-minded geologists. Shareholders of Kobold Metals include Silicon Valley venture capital firm Andreessen Horowitz, Norwegian oil major Equinor ASA and Breakthrough Energy Ventures, a fund backed by Gates and a dozen other tycoons including Jeff Bezos, Ray Dalio and Michael Bloomberg.

On July 7 Transport Topics reported:

Electric vehicles are starting to buoy the global metals market. The market gloom over the metals that will power the cars of the future is starting to lift. Supply overhangs and then the coronavirus pandemic had crushed short-term prospects for the minerals used to make rechargeable batteries. But new government commitments to green transport in China and Europe, as well as curtailments to mining and future investments, have led to a growing consensus the markets are bottoming out. Add in the fact that battery technologies are continuing to get cheaper, and there’s reason to be bullish. “The European Union, in particular, is essentially rebuilding their automotive supply chains around battery metals, and incentivizing EV adoption,” Berry said in a phone interview. “The Chinese have re-instituted the EV subsidy regime as well.” The worldwide market for cathode for lithium-ion batteries, the most common type in rechargeable cars, is expected to reach $58.8 billion by 2024 from $7 billion in 2018, according to a United Nations report. Those outlooks leave the world’s largest producer of lithium expecting a market turnaround by 2022. Demand “is starting to come back” with spot prices about at a bottom now, Albemarle Corp.’s new CEO Kent Masters said in an interview. “It will ramp up and use up that excess supply. And in time, there’ll be a play where demand outstrips supply and pricing will change dramatically.”

Note: That’s a 8.4 fold increase in ~6 years.

Battery and EV battery metals are set to take off

2019 to 2030 demand increase forecast for EV metals as the EV boom takes off – A tsunami of EV metals demand ahead

Source: Courtesy BloombergNEF

On July 10 Argus media reported:

Germany’s BMW signs five-year cobalt supply deal. German carmaker BMW has signed a five year cobalt supply agreement with Moroccan producer Managem in a deal worth €100mn ($113mn). he deal is another major endorsement for cobalt in the battery chain after Tesla’s recent supply deal with Glencore. The BMW agreement will run from 2020-25 and provide one fifth of BMW’s cobalt requirements for the period…. (Managem) produces around 1,800t of cobalt metal each year.

On July 15 The China Daily reported:

Demand for copper and cobalt set to see rapid growth. China’s “new infrastructure” construction plan, particularly charging piles for new energy vehicles, 5G base stations, ultrahigh voltage power and intercity high-speed railways, may boost demand for metals like copper and cobalt, industry experts said. These projects will continue to strengthen demand for copper and cobalt, as the 5G smartphones alone contain up to 25 percent more cobalt because of the bigger battery, and the cobalt and copper demand will benefit greatly from an improved EV charging network and increased NEV sales, he said. According to Sobotka, the new energy vehicle market in China has been improving steadily despite the pandemic, and demand for both cobalt and copper, which is on an unprecedented upward rally, continues to strengthen.

Cobalt company news

Glencore [HK:805] [LSE:GLEN] (OTCPK:GLCNF)

On July 1, Glencore announced: “Notice to holders of U.S.$625m convertible bonds.”

On July 2, Glencore announced:

2020 half-year production report and 2020 half-year results presentation. Glencore plc will release its 2020 Half-Year Production Report on Friday, 31 July 2020.

China Molybdenum [HKSE:3993] [SHE:603993] (OTC:CMCLF)

No news for the month.

Zheijiang Huayou Cobalt [SHA:603799]

On July 1, Zheijiang Huayou Cobalt announced:

Net profit increase for 13 times, see how Huayou Cobalt in Tongxiang did that!…..Huayou Cobalt is as high-tech enterprise focusing on cobalt, copper refining and cobalt new material products deep processing, even under the impact of the epidemic, Huayou received a wave of good news, Huayue Ni-Co Hydrometallurgical project with a total investment of $1.28 billion was successfully started in Indonesia, an order with totally 7.6 billion yuan was obtained from a major Korean customer, the operating income reached 4.424 billion yuan, 0.53% up as of the same time last year, and net profit attributable to shareholders was 183 million yuan, increased for 1385.1% compared with the same time last year.

Jinchuan Group International Resources [HK:2362]

On July 1, Jinchuan Group International Resources announced:

Discloseable and connected transaction regarding cancellation of GHL’s investment return.

On July 1, Jinchuan Group International Resources announced:

Profit warning…The board (“Board”) of directors (the “Directors”) of the Company would like to inform the shareholders of the Company and potential investors that, based on the preliminary review of the latest unaudited consolidated management accounts of the Group and the current information available to the Board, the Group is expected to record a loss attributable to shareholders of the Company for the six months ended 30 June 2020 as compared to the profit attributable to shareholders of the Company of approximately US$4.2 million for the same period in 2019. The loss attributable to shareholders is mainly attributable to the following factors: The continuous drop in copper and cobalt price. Lower prices for copper and cobalt in the first five months of 2020 as compared to the corresponding period in 2019 with market copper and cobalt prices falling by approximately 12.6% and 5.8% respectively, leading to a drop in revenue. Also, as a result of lower commodity price as compared to the fourth quarter of 2019, there is a downward adjustment to the provisional sales price previously recognised.

Chemaf (subsidiary of Shalina Resources)

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No news for the month.

GEM Co Ltd [SHE: 002340]

No news for the month.

Investors can read more about GEM Co in my Trend Investing article: “A Look At GEM Co Ltd – The World’s Largest Battery Recycling Company.

Eurasian Resources Group (“ERG”) – private

ERG own the Metalkol facility in the DRC where ERG processes cobalt and copper tailings with a capacity of up to 24,000 tonnes of cobalt pa.

No news for the month.

Umicore SA [Brussels:UMI] (OTCPK:UMICY)

On July 27, Umicore SA announced:

Advanced notice of half year results 2020. On July 31st, 2020 at 07:30 AM CEST Umicore will publish its Half Year Results 2020.

Sumitomo Metal Mining Co. (TYO:5713) (OTCPK:SMMYY)

No cobalt related news for the month.

MMC Norilsk Nickel [LSX:MNOD] [GR:NNIC] (OTCPK:NILSY)

On June 29, MMC Norilsk Nickel announced:

Efficiency improvement at Kola MMC’S Severny Mine. A Mining Infrastructure and Control and an Automated Mining Management systems were put into operation at Kola MMC’s Severny Mine. Based on production data accumulation, these systems improve safety and efficiency of production process management.

On July 16, MMC Norilsk Nickel announced:

First meeting of Nornickel’s Environmental Task Team. Nornickel’s Board of Directors’ Environmental Task Team, founded in the aftermath of May 2020’s diesel spill in Norilsk, held its first meeting, July 10, 2020. The task team, formed to help guide Nornickel’s path towards sustainability, discussed the state of decontamination efforts, general approaches to environmental protection, corporate culture, and plans for the future.

On July 16, MMC Norilsk Nickel announced:

Nornickel and Russian Platinum agree on partnership in Norilsk Industrial District. Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that Nornickel and Russian Platinum will continue to cooperate in the development of deposits in the Norilsk Industrial District.

On July 17, MMC Norilsk Nickel announced:

Nornickel increases its financial commitment to support its employees and regions of operations amid the COVID-19 pandemic to RUB 20bln. The Company has developed a new package of anti-pandemic initiatives totalling approximately RUB 10bn until this year-end. These initiatives will focus on improving virus protection at work, employees’ support, assistance to regional healthcare, and support of small- and medium-size enterprises (SMEs).

Sherritt International [TSX:S] (OTCPK:SHERF)

On July 17, Sherritt International announced:

…..Sherritt International Corporation will release its second quarter 2020 financial results after market close on July 29, 2020.

On July 17, Sherritt International announced:

Sherritt announces amendment to its transaction to improve its Capital structure relating to its Ambatovy joint venture partner loans.

Conic Metals Corp. [TSXV:NKL]

Conic Metals was formed from the Cobalt 27 spin-out. Conic Metals offers broad exposure to nickel and cobalt through a 8.56% JV interest in Ramu, 11 royalty investments, and an equity share of ~7% of Giga Metals Corporation.

No news for the month.

Investors can view my CEO interview here.

Possible mid-term producers (after 2022)

First Cobalt [TSXV:FCC] (OTCQB:FTSSF)

On June 24, First Cobalt announced:

First Cobalt joins Cobalt Institute, strengthens commitment to ESG practices. First Cobalt Corp. is pleased to announce that it has taken steps to strengthen its Environmental, Social and Corporate Governance [ESG] practices by joining the Cobalt Institute as an Associate Member.

On July 10, First Cobalt announced:

First Cobalt announces filing of refinery study. Trent Mell, First Cobalt President & CEO, commented: “The global pandemic has drawn attention to the risk of concentrated supply chains. With most of the world’s refined cobalt produced in China, we are seeing heightened interest in a refinery that is closer to North American and European EV markets.

Upcoming catalysts include:

  • Late 2021 or 2022 – Possible to have their North American cobalt refinery operational with ore feed from Glencore.

Investors can view the company presentations here.

Jervois Mining [ASX:JRV] [TSX-V: JRV] (OTC: JRVMF) [FRA: IHS] (merged with eCobalt Solutions [TSX:ECS] (OTCQX:ECSIF))

On June 26, Jervois Mining announced:

Jervois to restart drilling in Uganda………Jervois maintains a strong cash position: including the finalisation of Bankable Feasibility Study (“BFS”) for its Idaho Cobalt Operations (“ICO”) and Uganda drill programme, it has cash reserves to maintain operations for more than12 months.

Upcoming catalysts include:

  • Mid 2020 – BFS due.
  • 2020 – Off-take agreements, project funding.

Fortune Minerals [TSX:FT] (OTCQB:FTMDF)

No news for the month.

Investors can read the latest company presentation here.

Upcoming catalysts include:

  • 2020 – Possible off-take or equity partners, project financing.

Clean TeQ [ASX:CLQ] [TSX:CLQ] (OTCQX:CTEQF)

Clean TeQ has 132kt contained cobalt at their Sunrise project.

On June 25, Clean TeQ announced:

Tianjin BIOCLENS Factory successfully commissioned. Mr Sam Riggall, Managing Director and Chief Executive Officer of Clean TeQ Holdings Limited, is pleased to announce that the Company’s BIOCLENS production facility in Tianjin, China, has been successfully commissioned and achieved steady-state operations.

On July 17, Clean TeQ announced: “Quarterly activities report – June 2020.” Highlights include:

  • “Sunrise Project Execution Plan progressing towards Q3 completion.
  • Grant of large new exploration licence in NSW prospective for base and precious metals.
  • Townsville water project contract negotiations significantly progressed.”

Investors can also read the latest company presentation here.

Upcoming catalysts include:

2020 – Possible further off-take agreements and project funding/partnering.

Australian Mines [ASX:AUZ] (OTCQB:AMSLF)

On June 29, Australian Mines announced:

Drilling of base metal targets commences at Thackaringa Project, New South Wales…..Thackaringa is a 100%-owned, early stage exploration project of Australian Mines located in the Broken Hill region of New South Wales. The project’s proximity to the regional mining town of Broken Hill, where mining major BHP originated mining the super giant Broken Hill lead-zinc-silver orebody, allows access to an established local mining culture and highly skilled workforce. Accordingly, this morning Australian Mines commenced a targeted, low-cost reverse circulation [RC] drilling program of the Target A1 conductor to verify the presence, if any, of base metal mineralisation at this location.

On July 15, Australian Mines announced: “Queensland Government offers support to Sconi Project .” Highlights include:

The support package for the Sconi Project is subject to certain conditions, which include Australian Mines:

  • “Executing an offtake agreement by 30 September 2020 for 100% of the nickel sulphate and cobalt sulphate to be produced from the Sconi Project on terms acceptable to the State.
  • Delivering a detailed project execution plan, including dates for achievement of all milestones, and obtaining the State’s approval for such a plan by 30 September 2020.
  • Obtaining sufficient approved financing for construction of the Sconi Project and making a final investment decision by 31 December 2020.
  • Appointing an engineering, procurement and construction management contractor for the project by 31 December 2020.
  • Achieving construction completion of the Sconi Project by 30 July 2023.
  • Employing at least 191 people in Queensland (on a full-time and ongoing basis) by 30 June 2024 and maintaining that number for the duration of the Agreement.
  • Engaging, as independent contractors, at least 57 full-time additional people working directly in connection with the Sconi Project from 30 June 2024.”
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Investors can read my update article here, my CEO interview here, or view the latest company presentation here.

Upcoming catalysts include:

  • 2020 – Thackaringa drill results. Possible Sconi off-take partners or financing.

Ardea Resources [ASX:ARL] (OTC:ARRRF)

In total, Ardea has 405kt of contained cobalt and 5.46mt of contained nickel at their KNP Project near Kalgoorlie in Western Australia.

On July 23 Ardea Resources released their Quarterly Activities Report. Highlights include:

  • Goongarrie Nickel Cobalt Project [GNCP] – Strategic Partner search continues with the goal of finding a preferred development partner…..The resource updates will also include a maiden scandium and REE component which will further demonstrate the projects’ strategic value.
  • WA Gold and Nickel Sulphide update – …….. Maiden Inferred Resource defined at Big Four Gold of 178kt at 2.7g/t gold, (0.5 g/t Au cut off) for 15,300 oz gold defined………”

Investors can view their latest company presentation here, my update Ardea article here, and CEO interview here.

Upcoming catalysts include:

  • 2020 – Resource update at the GNCP Project to include a scandium and REE component. Possible off-take partner and funding for the GNCP Project. Gold exploration results.

Cobalt Blue Holdings [ASX:COB] (OTCPK:CBBHF)

In total Cobalt Blue currently has 79.5kt of contained cobalt at their 100% owned Broken Hill Cobalt Project [BHCP] (formerly Thackaringa Cobalt Project) in NSW, Australia. LG International is an equity strategic partner.

On July 7, Cobalt Blue announced:

Cash update. In Cobalt Blue Holdings Limited’s March 2020 quarterly report, COB stated that it expected to receive an R&D rebate, refund of government security deposits and the next CRCP grant installment, totalling approximately $1.2 million. COB is pleased to advise that during the June 2020 quarter, it received those items, totalling approximately $1.36 million, and COB’s cash at 30 June 2020 stood at $2.06 million.

On July 14, Cobalt Blue announced: “BHCP testwork – High purity cobalt and sulphur products.” Highlights include:

  • “Broken Hill Cobalt Project [BHCP] testwork has now achieved a series of product benchmarks for cobalt sulphate, elemental sulphur and mixed hydroxide precipitate, which will be used for offtake marketing purposes with commercial customers.
  • Earlier MHP testwork (Mixed Hydroxide Product [MHP] testwork delivers premium product) produced a 37% Co and 7% Ni premium MHP with low impurities, from testwork on BHCP ore samples.
  • 20.8% cobalt sulphate heptahydrate has been produced by refining the MHP. This meets industry benchmark of 20.5% purity for battery manufacture, as traded on Fastmarkets: cobalt sulphate 20.5% Co basis exw China.
  • The key by-product for BHCP is elemental sulphur, and COB has now produced 99.3% grade elemental sulphur samples.
  • COB is finalising a 2020 Project Update and Ore Reserve Statement for the BHCP.”

On July 17, Cobalt Blue announced: “Broken Hill Cobalt Project [BHCP] project update 2020.” Highlights include:

  • “Ore Reserve (Probable) increased 55% to 71.8 Mt at 710 ppm cobalt (from 46.3 Mt at 819 ppm cobalt).
  • Ore Reserve contained cobalt increased from 38,000 tonnes to 51,000 tonnes (34% increase).
  • Pre-Production capital expenditure lowered by ~A$70m, inclusive of an increase in front-end mining and concentrate throughput capacity from 5.25 Mtpa to 6.3 Mtpa (+20%).
  • Capital intensity (US$ capital/cobalt production) typically 25–30% of required capital for comparable cobalt greenfield projects.
  • Replacement of standalone process plant Tailings Storage Facility, with Integrated Waste Landform for co-disposal of mine waste rock and process plant tailings, resulting in lower environmental footprint.
  • The Broken Hill Cobalt Project is 100% owned by Cobalt Blue Holdings. The project will continue to advance towards a Feasibility Study.”

Upcoming catalysts include:

  • Mid 2020 – Pilot plant commissioning.
  • Q1 2021 – Demonstration plant.
  • Q1 2022 – Feasibility Study & project approvals. Final Investment decision.

Havilah Resources [ASX:HAV] [GR:FWL]

Havilah 100% own the Mutooroo copper-cobalt project about 60km west of Broken Hill in South Australia. They also have the nearby Kalkaroo copper-cobalt project, as well as a potentially large iron ore project at Grants.

On June 26, Havilah Resources announced: “Accelerated discovery support for exploration.” Highlights include:

  • “Havilah has secured Accelerated Discovery Initiative [ADI] funding for two exploration projects amounting to $275,000 in total, provided on a dollar for dollar expenditure basis.
  • The project “Investigation of REE Mineralisation in the Benagerie Dome” has secured matching funding of $150,000 to drill, sample and test rare earth element [REE] mineralisation in the vicinity of the Croziers copper prospect and to progress the current Kalkaroo REE studies.
  • The second project “Jupiter MT Anomaly Definition Study” has secured matching funding of $125,000 primarily to collect more detailed magnetotelluric [MT] data over the Jupiter conductive zone that will assist in drill-targeting, plus orientation MT data over the major mineralised Kalkaroo fault zone.”

Note: Investors can learn more by reading my article “Havilah Resources Has Huge Potential and/or my update article. You can also view my CEO interview here, and the company presentation here.

Upcoming catalysts include:

  • 2020 – Kalkaroo – Updated PFS due.

Aeon Metals [ASX:AML](OTC:AEOMF)

Aeon Metals 100% own their Walford Creek copper-cobalt project in Queensland Australia.

No significant news for the month.

For more information you can read my article: “Aeon Metals May Have A World Class Copper And Cobalt Sulphide Resource In Northern Australia.

Investors can view the latest company presentation here.

Upcoming catalysts include:

GME Resources [ASX:GME][GR:GM9] (OTC:GMRSF)

GME Resources own the NiWest Nickel-Cobalt Project located adjacent to Glencore’s Murrin Nickel operations in the North Eastern Goldfields of Western Australia. The NiWest Project which has an estimated 830,000 tonnes of nickel metal and 52,000 tonnes of cobalt.

On July 17, GME Resources announced:

June 2020 quarterly activities and cashflow report. The NiWest Nickel Cobalt laterite Project hosts one of the highest-grade undeveloped nickel laterite resources in Australia estimated to contain 81 million tonnes averaging 1.03% Nickel and 0.06% Cobalt……Over 75% of the resource falls within the Indicated and Measured categories. A Prefeasibility Study completed in September 2018 indicated a capital requirement of A$900m and operating costs of US$ 3.24/lb nickel based on production of 456kt nickel and 31.4kt cobalt over a 27-year mine life……

Investors can read a company investor presentation here.

Cassini Resources [ASX:CZI] [GR:ICR] (OTC:CSSQF) – “To be acquired by OZ Minerals [ASX:OZL] (OTCPK:OZMLF)”

Cassini’s flagship is the West Musgrave Project hosting over 1.0 million tonnes of contained nickel and 2.0 million tonnes of contained copper in resource. The company has a buy in JV with OZ Minerals [ASX:OZL] (OTCPK:OZMLF) for West Musgrave in Western Australia. The company also has several other promising projects.

No news for the month.

Canada Silver Cobalt Works Inc [TSXV:CCW] (OTCQB:CCWOF)

On June 30, Canada Silver Cobalt Works Inc. announced:

Canada Silver Cobalt appoints Halliday President and Chief Operating Officer. Second drill rig Forcastle East. Canada Silver Cobalt Works Inc. is pleased to announce that Mr. Matt Halliday, P.Geo., has been promoted to the position of President and Chief Operating Officer [COO] of the Company, in addition to his duties as VP-Exploration, as Canada Silver Cobalt prepares to aggressively ramp up drilling at Castle East to fully leverage a growing high-grade silver discovery adjacent to three past producers in Gowganda, 75 kilometers southwest of Kirkland Lake. As a second drill rig is quickly added to this discovery as part of a new planned program encompassing 50,000 meters of drilling in 2020, Halliday will direct and supervise all project operations for Canada Silver Cobalt in his new role as President and COO. He will also immediately further build out the geological, engineering and environmental team with the goal of completing permitting and construction of a ramp to the rich Robinson Zone in 2021.

On July 13, Canada Silver Cobalt Works Inc. announced:

Canada Silver Cobalt files the NI 43-101 technical report on mineral resource estimate for Castle East, Robinson Zone.

Canada Nickel [TSXV:CNC]

On July 16, Canada Nickel announced:

Canada Nickel announces acceleration of May 2020 warrants.

Castillo Copper [ASX:CCZ]

On July 1, Castillo Copper announced: “Drill program finalised to test 130m massive sulphide target at Arya prospect in Mt Oxide pillar.”

On July 6, Castillo Copper announced:

Grant of ASX Listing Rule 14.7 waiver. Castillo Copper Limited. refers to the general meeting of shareholders held on 27 March 2020, at which shareholders approved the issue of up to 180 million shares (Public Offer Shares) in a public offer to facilitate the dual-listing of the Company’s securities on the London Stock Exchange (Dual Listing).

On July 17, Castillo Copper announced: “Final targets completed for drilling campaigns at Arya and Big One Deposit.”

Investors can view my CEO interview here, and an investor presentation here.

Barra Resources Ltd. (OTC:BRCSF) [ASX:BAR] / Conico Ltd [ASX:CNJ]

Barra is developing the Mt Thirsty project, which is a 50/50 joint venture with Conico, to produce cobalt suitable for the metal, chemical and battery markets. Barra is has two promising gold projects in Western Australia.

No news for the month.

Investors can view the company presentations here.

Other juniors and miners with cobalt

I am happy to hear any news updates from commentators. Tickers of cobalt juniors I will be following include:

21st Century Metals (CSE: BULL) (OTCQB: DCNNF), African Battery Metals [AIM:ABM], Alloy Resources [ASX:AYR], Artemis Resources Ltd [ASX:ARV] (OTCPK:ARTTF), Auroch [ASX:AOU] [GR:T59], Azure Minerals [ASX:AZS] (OTC:AZRMF), Bankers Cobalt [TSXV:BANC] [GR:BC2] (NDENF), Blackstone Minerals [ASX:BSX], BHP (NYSE:BHP), Bluebird Battery Metals Inc. [TSXV:BATT] (OTCPK:BBBMF), Brixton Metals Corporation [TSXV:BBB](OTC:BXTMD), Canadian International Minerals [TSXV:CIN], Carnaby Resources [ASX:CNB], Celsius Resources [ASX:CLA] [GR:FX8], Centaurus Metals [ASX:CTM], CBLT Inc. [TSXV:KBLT] (OTCPK:CBBLF), Cobalt Power Group [TSX:CPO], Cohiba Minerals [ASX:CHK], Corazon Mining Ltd [ASX:CZN], Cruz Cobalt [CSE:CRUZ](OTCPK:BKTPF), Cudeco Ltd [ASX:CDU] [GR:AMR], Dragon Energy [ASX:DLE], European Cobalt Ltd. [ASX:EUC], First Quantum Minerals (OTCPK:FQVLF), Fuse Cobalt Inc [CVE:FUSE] (WCTXF), Galileo [ASX:GAL], Global Energy Metals [TSXV:GEMC] (OTC:GBLEF), GME Resources [ASX:GME] (OTC:GMRSF), Global Energy Metals [TSXV:GEMC] [GR:5GE1] (GBLEF), Hinterland Metals Inc. (OTC:HNLMF), Hylea Metals [ASX:HCO], Independence Group [ASX:IGO] (OTC:IIDDY), King’s Bay Res (OTC:KBGCF) [TSXV:KBG], Latin American Resources, M2 Cobalt Corp. (TSXV: MC) (OTCQB: MCCBF), MetalsTech [ASE:MTC], Metals X (ASX:MLX) (OTCPK:MLXEF), Meteoric Resources [ASX:MEI], Mincor Resources (OTCPK:MCRZF) [ASX:MCR], Namibia Critical Metals [TSXV:NMI] (OTC:NMREF), Pacific Rim Cobalt [BOLT:CSE], PolyMet Mining [TSXV:POM] (NYSEMKT:PLM), OreCorp [ASX:ORR], Power Americas Minerals [TSXV:PAM], Panoramic Resources (OTCPK:PANRF) [ASX:PAN], Pioneer Resources Limited [ASX:PIO], Platina Resources (OTCPK:PTNUF) [ASX:PGM], Quantum Cobalt Corp [CSE:QBOT] GR:23BA] (OTCPK:BRVVF), Regal Resources (OTC:RGARF), Resolution Minerals Ltd [ASX:RML], Sienna Resources [TSXV:SIE], (OTCPK:SNNAF), Talon Metals [TSX:TLO] (OTCPK:TLOFF) and Victory Mines [ASX:VIC].

Conclusion

July saw cobalt prices and LME inventory about the same as last month.

Highlights for the month were:

  • Simon Moores [BMI] – By 2029 demand for cobalt will grow three times.
  • Electric vehicles are starting to buoy the global metals market.
  • Tesla’s reluctant commitment to cobalt a warning to others……if they want cobalt, they’re going to have to take control over their own supply chain.
  • UN – The worldwide market for cathode for lithium-ion batteries is expected to reach $58.8 billion by 2024 from $7 billion in 2018. That’s a 8.4 fold increase in ~6 years.
  • Bill Gates backed Kobold Metals plans to use data-crunching algorithms to search for cobalt near a Canadian nickel mine owned by Glencore Plc.
  • BMW has signed a five year cobalt supply agreement with Moroccan producer Managem.
  • China Daily – China’s demand for copper and cobalt set to see rapid growth.
  • Huyaou Cobalt reports net profit up 1385.1% YoY.
  • First Cobalt states: “Heightened interest in a refinery that is closer to North American and European EV markets.”
  • Jervois Mining to restart drilling in Uganda.
  • Clean TeQ’s IOCLENS production facility in Tianjin, China, has been successfully commissioned and achieved steady-state operations.
  • Australian Mines – Queensland Government offers support to Sconi Project with some tight deadlines. Drilling commences at the Thackaringa Project.
  • Cobalt Blue has achieved a series of product benchmarks for cobalt sulphate, elemental sulphur and mixed hydroxide precipitate, which will be used for offtake marketing purposes. Ore Reserve contained cobalt increased from 38,000 tonnes to 51,000 tonnes (34% increase).
  • Havilah Resources has secured Accelerated Discovery Initiative [ADI] funding for two exploration projects.

As usual all comments are welcome.

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Disclosure: I am/we are long GLENCORE (LSX:GLEN), KATANGA MINING [TSX:KAT], NORSILK NICKEL (LME:MNOD), AUSTRALIA MINES [ASX:AUZ], FORTUNE MINERALS [TSX:FT], RNC MINERALS [TSX:RNX] , ARDEA RESOURCES [ASX:ARL], COBALT BLUE [ASX:COB], AEON METALS [ASX:AML], HAVILLAH RESOURCES [ASX:HAV], CONICO LTD [ASX:CNJ], First Cobalt [TSXV:FCC], POSEIDON NICKEL [ASX:POS]. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: The information in this article is general in nature and should not be relied upon as personal financial advice.

Editor’s Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.



Via SeekingAlpha.com