The ‘hot’ cobalt market and being at the right place at the right time
Peter Clausi, President, CEO and Director of CBLT Inc. (TSXV: CBLT) (“CBLT”) in an interview with InvestorIntel CEO Tracy Weslosky discuss CBLT’s principal cobalt assets, located in Ontario and Quebec, Canada. It is important to note that Canada is the third largest producer of cobalt in the world. Peter states CBLT’s main gold and cobalt asset, located in Sudbury, Canada, is directly next-door to an actual producer, “the world-famous Sudbury smokestack owned by Glencore.” Peter also discusses CBLT’s competitive advantages, such as they spend shareholder’s money wisely resulting in CBLT not having a lot of shares outstanding, meaning “value goes to shareholders.”
Tracy Weslosky: Cobalt is very hot, not only for InvestorIntel, but the overall market is very receptive to it. Let’s just start with that you’re in Canada, which is the third top producer of cobalt in the world.
Peter Clausi: That’s correct.
Tracy Weslosky: Let’s start with where you’re located.
Peter Clausi: We like reliable mining jurisdictions so Canada’s one of the best in the world. We’re in British Columbia, Quebec and Ontario. Our principal assets are in Ontario and Quebec.
Tracy Weslosky: What I really like is that you’re very close to an actual producer, Glencore. Is that correct?
Peter Clausi: Our main gold cobalt asset in Sudbury is directly next-door to the world-famous Sudbury smokestack now owned by Glencore.
Tracy Weslosky: I was reading a little bit about you because you seem to be a key speaker on the cobalt industry. I didn’t know that 60% of the weight of my battery in my cellphone is from cobalt. Is that correct?
Peter Clausi: Cobalt is an amazing metal. It’s in everything and we don’t know it’s there. There’s a global shortage of it. Prices have been skyrocketing. 60% of the weight of your battery in your phone is cobalt. The new Tesla Model 3 that has been all over the news, every car needs 15 kilograms of cobalt. If they make half a million, that’s 7½ million grams of cobalt just for one model of one car.
Tracy Weslosky: I have been speaking to CEOs in the public markets and saying, there’s a lot of jets on the tarmac right now… why are we going to select CBLT? What makes you so competitive?
Peter Clausi: Management is horrifically cheap with the shareholders’ money. We spend it well. We spend it wisely. As a result we don’t have a lot of shares outstanding. That means value goes to the shareholders. We have strong properties. We have strong teams and we were one of the early movers in this market. We bought good properties at great pricing…to access the complete interview, click here
Disclaimer: CBLT Inc. is an advertorial member of InvestorIntel Corp.
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