Welcome to the October 2020 cobalt miner news. Perhaps the biggest news in the past month was the White House Executive Order on critical minerals (includes cobalt). Other news continued with analysts saying it is not so easy to do away with cobalt in energy dense EV batteries, and continued concerns about cobalt thrifting as possibly the cause of battery-fire risks in electric vehicles. Supporting this were reports of OEMs seeking 5-10 year long term cobalt supply contracts and China’s cobalt metal imports hitting a record along with last months reports China plans to stockpile cobalt.

Cobalt price news

As of October 20, the cobalt spot price was US$14.96/lb, down from US15.41/lb last month. The LME cobalt price is US$32,980/tonne. LME Cobalt inventory is 451 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 14.96

Source: Mining.com

Cobalt market news

On September 28 Fastmarkets reported:

China’s cobalt metal imports hit record high in August. A total of 1,130 tonnes of cobalt was delivered to China in August, an increase of 245% from the prior month and 421% higher than the same month of last year, according to Chinese customs data. August’s volume is the highest ever in a month.

On September 30 The White House announced:

Executive Order on addressing the threat to the domestic supply chain from reliance on (35) critical minerals from foreign adversaries | The White House……I therefore determine that our Nation’s undue reliance on critical minerals, in processed or unprocessed form, from foreign adversaries constitutes an unusual and extraordinary threat, which has its source in substantial part outside the United States, to the national security, foreign policy, and economy of the United States. I hereby declare a national emergency to deal with that threat. In addition, I find that the United States must broadly enhance its mining and processing capacity, including for minerals not identified as critical minerals and not included within the national emergency declared in this order.

Note: The above report says the US Gov. will look into giving “grants to procure or install production equipment for the production and processing of critical minerals in the United States”, “loan guarantees” and for projects that support domestic supply chains “funding awards and loans pursuant to the Advanced Technology Vehicles Manufacturing incentive program.”

You can view the US critical minerals list here. It contains cobalt, graphite, lithium, manganese, PGMs for catalytic agents (Eg: palladium), rare earth elements group, scandium, titanium, vanadium etc.

On September 30 S&P Global reported:

Glencore trader Brocas says OEMs seeking 5-10 year deals for cobalt for EVs. Glencore, the biggest global cobalt producer, is trying to mitigate the risk of any big rally in prices or scarcity of supply caused by energy transition demand by discussing and entering long-term supply arrangements with OEMs, David Brocas, the company’s lead trader of the minor metal, said Sept. 30. “Only if we get very long-term visibility on [customers’] needs for cobalt will we be able to dimension our production in the right way,” Brocas told the virtual FT Commodities Global Summit. “We in the mining industry need to know as the lead time for investment into a new mining asset is two-three years and we won’t invest … millions of dollars in challenging places like [the Democratic Republic of Congo] if we don’t have a guaranteed outlet,” he said, noting that the cobalt market is currently oversupplied. In the past, the longest cobalt supply contracts were for one year, but this is rapidly changing because Glencore is pushing for it.

On October 8 Battery Materials Review reported:

October’s lead article is about the chronic under-investment in battery raw materials supply and the threat it poses to the EV event. Since 2018 US$50bn has been raised for new battery capacity, US$60bn for EV capacity but only US$8bn in new raw materials capacity…and raw materials capacity takes 2-3 years longer to build. There is now a material risk of supranormal raw material prices which will impact battery prices and EV makers’ profitability.

On October 8 Investing News reported:

Not so fast — Tesla, other EV makers can’t cut cobalt just yet. “To remove cobalt is extremely challenging from a technical standpoint, and I believe the technology is still being developed by Tesla.” The EV maker is on a quest to remove cobalt and increase nickel, which would bring more energy density to its batteries. But more nickel at the expense of cobalt means lower cathode stability, Gavin Montgomery of Wood Mackenzie further explained. “To get around this, ‘novel coating and dopants’ were mentioned,” he told INN. “However, without further details, we are not convinced the problem has been solved just yet.”…. “Without it, the battery will begin to degrade and this will see premature capacity fade,” he explained. “The potential cost implications for this are huge, as if capacity dips below the stipulated retention in the warranty offered by the manufacturer, the pack will need to be replaced at the automaker’s cost.”….. For Woodmac’s Montgomery, these cobalt supply deals demonstrate quite clearly that Tesla will need cobalt for some time to come, and thrifting cobalt from cells remains challenging….. “These cells are likely to continue to use cobalt-containing cathode, so Tesla will continue to need to secure cobalt for some time to come,” he said. “Ultimately the undersupply we are expecting in the cobalt market outweighs any potential change in Tesla demand.”…..Benchmark Mineral Intelligence forecasts that battery demand for cobalt will triple between now and 2026 — and that takes into account changes towards more nickel-rich chemistries.

On October 19 Morningstar reported:

Auto makers grapple with battery-fire risks in electric vehicles. Auto makers are confronting a new challenge in their race to sell more electric cars: battery-related fires leading to vehicle recalls and safety probes……A report the agency commissioned in 2017 said that as battery technology matures, safety risks may also increase, as manufacturers try to maximize their performance. The report concluded, however, that the risks of battery fires are likely comparable to or slightly fewer than in gas-powered cars……In most cases, the issues are related to quality problems in the manufacturing process or a failure to manage the battery’s heat or electrical energy properly, Mr. Warner said. “It could be as simple as a zero instead of a one in a line of software,” he said.

Note: The article discusses multiple OEMs (GM, Ford, Hyundai, BMW…).

Note: Last month I reported the CATL battery (especially NMC 8:1:1) fire problems in the Korea Herald article, which stated: EV fires with Chinese batteries expose technology gap…..The yield rate of CATL’s battery factory is reported at 45-55 percent, meaning that almost half of CATL’s batteries are defective,” an industry source said. “There could have been an issue when CATL tried to increase the ratio of nickel.”

On October 21 Mining.com reported:

Over $1 trillion needed for energy transition metals. An investment of over $1 trillion will be needed in key energy transition metals – aluminium, cobalt, copper, nickel and lithium – over the next 15 years just to meet the growing demands of decarbonisation. Wood Mackenzie, in a new report, says the figure is double what was invested over the last 15 years.

On October 23 Reuters reported:

Biden campaign tells miners it supports domestic production of EV metals. Joe Biden’s campaign has privately told U.S. miners it would support boosting domestic production of metals used to make electric vehicles, solar panels and other products crucial to his climate plan, according to three sources familiar with the matter, in a boon for the mining industry.

Cobalt company news

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

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On October 16 S&P Global reported:

Glencore ‘running down’ coal to invest in new generation minerals: CEO. Miner and trader Glencore’s CEO Ivan Glasenberg said Oct. 16 said the company is “running down its coal mines” to reduce Scope 3 carbon emissions and using the funds freed up to invest in minerals such as copper, cobalt and nickel needed for energy transition markets including electric vehicles…..Glencore currently produces 1.3 million mt/year of copper, is a major producer of nickel and is the world’s largest producer of cobalt, with production of 46,000 mt/year in a market of around 145,000 mt/year. Demand for these metals is growing fast. There were projections that there would be 11 million electric vehicles on the roads by 2025 which could require a further 75,000 mt/year of cobalt and another 350,00 mt/year of nickel by that date, stretching up to an extra 500,000 mt/year for the next 10 years if electric battery storage market were added too, Glasenberg said.

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

No news for the month.

Zheijiang Huayou Cobalt [SHA:603799]

On September 29, Zheijiang Huayou Cobalt announced:

The completion Ceremony Leyou New Energy Materials (Wuxi) Co., Ltd.was held. “From the moment Huayou Cobalt cooperated with LG Chem, we were convinced that we would have today’s harvest.” Chairman Chen Xuehua said firmly in his speech that Leyou project is a successful transnational cooperation between Chinese enterprises and Korean enterprises, and a strong cooperation between cobalt industry leader and battery giant. Cooperation and win-win future are the unswerving development philosophy of Huayou. The completion of the project marks the fruitful cooperation between Huayou Cobalt and LG Chem. At the same time, the completion of the project means that Leyou company stands at a new starting point and sets foot on a new journey. Huayou Cobalt is willing to cooperation with LG Chem in more fields and wider space to realize common growth……

Jinchuan Group International Resources [HK:2362]

No news for the month.

Chemaf (subsidiary of Shalina Resources)

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.

On October 14, Eurasian Resources Group announced: “Eurasian Resources Group publishes sustainable development report 2019.” Highlights include:

  • “Ensuring a responsible supply chain: Adoption of ERG’s Group Supplier Code of Conduct; First independent, third-party assurance of ERG’s Clean Cobalt Framework at Metalkol RTR; Ongoing support of the Global Battery Alliance and helping establish World Economic Forum’s Metals and Mining Blockchain Initiative.
  • Enhancing business efficiency: Rollout of the ERG Way Production System in Kazakhstan; US$68 million saved through operational efficiency programmes; Commissioning of furnace No. 64. as part of the Workshop No. 6 major renovation project at the Aksu Ferroalloys Plant in Kazakhstan; Establishing ERG Capital Projects and ERG Recycling companies…..
  • Becoming a member of the United Nations Global Compact.
  • Advancing Metalkol RTR in the Democratic Republic of the Congo [DRC]: Production ramp-up and initiation of Phase II of development…..

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

On September 30, Umicore SA announced:

Umicore streamlines its Cobalt & Specialty Materials activities. As part of the ongoing reassessment of its global production footprint, Umicore plans to streamline its cobalt activities in the business unit Cobalt & Specialty Materials with the aim of strengthening the business unit’s competitive position. Cobalt & Specialty Materials is a leader in the refining, production and distribution of cobalt and nickel specialty chemicals for a wide-range of non-battery related applications. Over the past few years, the business unit has been facing increasing competition in several of its end markets and more recently in its cobalt refining activities due to the emergence of large-scale cobalt refineries. Against this backdrop, Umicore plans to consolidate part of the business unit’s core activities in Kokkola, Finland and Nashville, US in order to achieve synergies and strengthen the unit’s competitive position.

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 October 19, MMC Norilsk Nickel announced: “Nornickel announces consolidated production results for 9 months of 2020.” Cobalt numbers were not included.

OZ Minerals [ASX:OZL] (OTCPK:OZMLF)

On October 5, OZ Minerals announced:

Completion of Cassini acquisition…..OZ Minerals Chief Executive Andrew Cole said the company is pleased to now have 100% ownership of the West Musgrave Project.

On October 22, OZ Minerals announced: “OZ Minerals September 2020 quarterly report.”

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

On September 28, Sherritt International announced: “Sherritt publishes its 2019 sustainability report.”

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.

No news for the month.

Investors can view the company presentations here.

Possible mid-term producers (after 2022)

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

On September 24, First Cobalt announced: “First Cobalt announces 13% operating cost reduction for Canadian cobalt refinery project.” Highlights include:

  • “Operating costs estimate reduced from $2.72/lb of cobalt produced to $2.36/lb of cobalt produced, resulting in approximately $4 million of increased annual pre-tax cash flows compared to results in the May 4 engineering study.
  • Updated capital estimate of $60 million compared to $56 million in the original engineering study.
  • $41 million in undiscounted pre-tax free cashflow to the Project forecasted during the first full year of production.
  • Glencore and First Cobalt have established a Joint Technical Committee that continues to work on further technical and cost enhancements to the refinery.
  • Final permit amendments and closure plan on track to be submitted before the end of the year.
  • Financing process has moved to phase 2 and the Company is assessing several third-party financing proposals as discussions continue to advance with the private sector and government agencies.”

On October 19, First Cobalt announced: “First Cobalt begins Geophysics Program at Idaho Project.” Highlights include:

  • “Objective is to refine follow-up drill targets further east along strike of the cobalt-rich zone intersected over a 300m vertical depth (incl. 0.20% Co over 12.0m true thickness) as well as the western extension of the copper-rich zone (incl. 3.40% Cu and 0.10% Co over 2.6m true thickness).
  • Program will trace the Iron Creek cobalt and copper resource below cover beyond the current 900-metre strike extent of the deposit……
  • Interpretation of geophysical results is expected later this year and will support planned resource drilling at Iron Creek in 2021 as well as further testing of nearby cobalt-copper mineralized targets, including the Ruby zone.”

Upcoming catalysts include:

  • 2022 – Possible to have their North American cobalt refinery operational with ore feed from Glencore.
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Investors can view the company presentations here.

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

On September 29 Jervois Mining announced: “Jervois releases BFS for Idaho Cobalt Operations.”

BFS for Idaho Cobalt Operations summary

Source

On September 29 Jervois Mining reported:

Jervois Mining to acquire the São Miguel Paulista nickel and cobalt refinery in Brazil….SMP Refinery has annual refined production capacity of 25,000 metric tonnes of nickel and 2,000 metric tonnes of cobalt and is currently on care and maintenance…..Cash purchase price of R$125 million (US$22.5 million), payable in tranches, with a R$15 million (US$2.7 million) cash deposit paid by end December 2020…..Jervois to refine concentrate from its Idaho Cobalt Operations (“ICO”) and return cobalt metal to the United States. Additional supply contracts to be pursued.

On October 20 Jervois Mining reported:

Jervois successfully closes A$45.0 million equity raise. Jervois will use proceeds from the Placement for Idaho Cobalt Operations (“ICO”) long lead item orders, detailed engineering and ongoing site costs; and activities relating to the recently announced acquisition of the São Miguel Paulista (“SMP”) nickel-cobalt refinery in São Paulo, Brazil,including the purchase deposit, lease payments from March 2021 and restart feasibility study costs.

Upcoming catalysts include:

  • 2020 – Off-take agreements, project funding.

Jervois Mining’s advanced stage Idaho Cobalt Operations (‘ICO’) in the USA

Source: Company website

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

No news for the month.

Investors can read the latest company presentation here.

Upcoming catalysts include:

  • 2020 – NICO exploration program results, 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 September 28, Clean TeQ announced: “Sunrise Battery Materials Project reaches key development milestone. Study confirms one of the World’s lowest cost sources of sustainable nickel and cobalt….. completion of the Sunrise Project Execution Plan (‘PEP’).” Highlights include:

  • “The PEP results have been finalised at a time of encouragingly strong market demand for EVs, particularly in Europe……
  • Benchmarked against other operations and process flowsheets, Sunrise is the template for sustainable, reputable and auditable nickel and cobalt supply for the next generation of electric vehicles.
  • The PEP modelled the first 25 years of production, with sufficient ore reserves to extend operations up to approximately 50 years.
  • Long-term nickel and cobalt sulphate price forecasts obtained from independent expert Benchmark Mineral Intelligence. Weighted average forecast (metal equivalent) sulphate prices over the life of mine are approximately: Nickel: US$24,200/t (including sulphate premium). Cobalt: US$59,200/t.
  • The PEP scope of works included a range of studies which have optimised metal production rates while holding autoclave ore feed constant at the approved maximum 2.5 million tonnes per annum. Average annual (metal equivalent) production rates are: 21,293 tonnes nickel and 4,366 tonnes cobalt (Year 2 –11). 18,439 tonnes nickel and 3,179 tonnes cobalt (Year 2 –25).
  • The Project is forecast to deliver over US$16 billion in revenue and average annual post-tax free cashflow of US$308 million over the first 25 years of operations.
  • Strong cash flows result in a post-tax net present value [NPV] of US$1.21billion (A$1.72 billion) and post-tax Internal Rate of Return [IRR] of 15.44%.
  • High cobalt credits result in very low average C1 operating costs of negative US$1.97/lb of nickel after by-product credits (US$4.31/lb nickel before credits) in years 2-11.
  • Pre-production capital cost estimate of US$1.658 billion (A$2.368 billion) (excluding US$168 million estimated contingency) reflects a significantly de-risked capital cost, with approximately 79% of total equipment and materials costs covered by vendor quotations. Submissions were also obtained from contractors to validate the labour costs included in the total direct cost.”

On October 14, Clean TeQ announced: “Quarterly activities report – September 2020…..”

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 October 6, Australian Mines announced:

Positive results support additional drilling at Broken Hill Project, New South Wales. Australian Mines Limited is pleased to announce positive results from the Company’s maiden drilling program at its 100% owned Thackaringa asset (“Thackaringa”) in the Broken Hill region in New South Wales, Australia……Australian Mines Managing Director, Benjamin Bell, commented, “We are pleased with the results from the test drilling program at, what is now, our Broken Hill Project. They indicate the geology at the project is consistent with Broken Hill-style sulphide mineralisation and confirm the presence of anomalous lead, zinc, silver and copper.”…..

On October 20, Australian Mines announced:

Quarterly activities report for the period ended 30 September 2020. During the quarter, Australian Mines maintained its focus on the development of its 100%-owned Sconi Cobalt-Nickel-Scandium Project (“Sconi”) in North Queensland. The Company’s priority remains advancing discussions with potential offtake partners for Sconi, which, when fully operational, will position Australian Mines at the forefront of the battery materials industry…..

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. Ardea is also exploring for gold and nickel sulphide on their >5,100 km2 of 100% controlled tenements in the Eastern Goldfields region of Western Australia.

No cobalt news for the month.

Investors can read my recent Trend Investing CEO interview discussing Ardea’s gold and nickel sulphide prospects here. Investors can view their latest company presentation 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 and nickel sulphide 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 October 21, Cobalt Blue Holdings announced:

Cobalt Blue September quarterly report….During the quarter COB released a major project update of the Broken Hill Cobalt Project. The project update highlights were: Ore Reserve (Probable) increased 55% from 46.4 Mt (at 819 ppm cobalt) to 71.8 Mt1 (at 710 ppm cobalt). Ore Reserve contained cobalt increased 34% from 38,000 tonnes to 51,000 tonnes…….Pre-Production capital expenditure lowered by ~$70m, inclusive of a 20% increase in front-end mining and concentrate throughput capacity from 5.2 Mtpa to 6.3 Mtpa ……Future resource estimation will include minor metals such as nickel, copper, zinc and manganese….. COB announced on 28 April 2020 that it had produced a mixed cobalt-nickel hydroxide……The Pilot Plant will be modular and is planned to be sized upwards to a Demonstration Plant (1:1000 to full commercial size) by Q3 2021……COB appointed Newland Global Group [NGG], a leading corporate advisory firm specialising in creating cross border commercial relationships between Australia and India to assist the Company attract investment from Indian groups……

Upcoming catalysts include:

  • 2020 – Pilot plant commissioning.
  • Q3 2021 – Demonstration plant.
  • 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. Havilah’s 100% owned Kalkaroo copper-gold-cobalt deposit contains JORC Mineral Resources of 1.1 million tonnes of copper, 3.1 million ounces of gold and 23,200 tonnes of cobalt.

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On October 14, Havilah Resources announced:

The Kalkaroo fault intersection zone is confirmed as a high priority exploration target for additional copper-gold resources based on further copper and gold mineralisation intersections in two recent reverse circulation drillholes, including 10 metres of 1.52 g/t gold. Evaluation of the feasibility of the West Kalkaroo gold-only starter open pit continues……Kalkaroo has an open pit JORC Ore Reserve of 100.1 million tonnes (90% Proved) at a CuEq grade of 0.89% based on near current spot copper and gold prices, making it one of the largest undeveloped open pit copper-gold deposits in Australia……

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.

On September 25, Aeon Metals announced: “Project and corporate update.” Highlights include:

  • “Revised Walford Creek testwork program to consider evolved back-end cobalt flowsheet routes. PFS update to be provided in 4Q 2020 and completion now scheduled for 1Q 2021.
  • New high-potential regional drilling program set to commence; part funded by recently announced CEI grant.
  • OCP Asia loan facility limit increased by A$3M to fund revised PFS process and regional drilling activities.”

On October 20, Aeon Metals announced: “Beauchamp drilling commenced.” Highlights include:

  • “Drilling of large-scale Beauchamp IOCG target underway.
  • Scout hole planned to be approx. 800m in length and take around two weeks to complete.”

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 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.

No significant news for the month.

Investors can read a company investor presentation here.

Castillo Copper [ASX:CCZ]

On September 30, Castillo Copper announced:

CCZ acquires commanding ground position at Broken Hill, prospective for IOCG and BHT. In a transformational move, which delivers a large footprint proximal to Broken Hill’s world-class silver-zinc-lead deposit, CCZ has agreed terms to acquire Wyloo Metals tenements. The acquisition delivers CCZ a commanding ground position in Broken Hill, while significant technological advances now infer it’s footprint is prospective for Broken Hill Type zinc-silver-lead (BHT) and Iron-Oxide-Copper-Gold (IOCG) mineralisation.

On October 9, Castillo Copper announced: “Drilling logistics largely finalised ahead of campaign commencing at the Mt Oxide Project.”

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 significant news for the month.

Investors can view the company presentations here.

Global Energy Metals [TSXV:GEMC][GR:5GE1] (OTC:GBLEF)

On October 5, Global Energy Metals announced:

Global Energy Metals forms U.S. Subsidiary amid rising demand for Regionalized Battery Mineral Supply Chain Exposure. Global Energy Metals Corporation is pleased to announce that in seeking to capitalize on rising interest in the battery minerals sector as global adoption of electric vehicles significantly increases that the Company has formed a new, wholly-owned U.S subsidiary – U.S. Battery Metals Corporation.

On October 7, Global Energy Metals announced:

Global Energy Metals announces payment to acquire 85 percent interest in highly prospective Nevada-based battery mineral projects. Mitchell Smith, President & CEO, Director comments: “…..The addition of Lovelock and Treasure Box, two Nevada-based highly prospective cobalt-nickel and cobalt-copper projects, strengthens our existing jurisdictionally safe asset portfolio and solidifies our positioning within the battery supply chain as we continue to build an investment vehicle for shareholders to gain valuable exposure to the ever increasing demand for battery minerals linked to the electro-mobility investment mega-trend.”

On October 13, Global Energy Metals announced:

Global Energy Metals engages SJ Geophysics for project data compilation and interpretation at Nevada-based cobalt-nickel-copper projects.

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), Brixton Metals Corporation [TSXV:BBB](OTC:BXTMD), Canada Nickel [TSXV:CNC], Canada Silver Cobalt Works Inc [TSXV:CCW] (OTCQB:CCWOF), 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], GME Resources [ASX:GME] (OTC:GMRSF), 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] (OTCPK: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), and Victory Mines [ASX:VIC].

Conclusion

October saw cobalt prices down and LME inventory unchanged.

Highlights for the month were:

As usual all comments are welcome.

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Disclosure: I am/we are long Glencore (LSX:GLEN), NORSILK NICKEL (LME:MNOD), AUSTRALIA MINES [ASX:AUZ], FORTUNE MINERALS [TSX:FT], ARDEA RESOURCES [ASX:ARL], COBALT BLUE [ASX:COB], AEON METALS [ASX:AML], HAVILLAH RESOURCES [ASX:HAV], Jervois Mining [TSXV:JRV], First Cobalt [TSXV:FCC], Global Energy Metals Corp. [TSXV:GEMC]. 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.



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