CBLT’s Clausi on global demand for cobalt
“Cobalt is in high demand at the moment and has spiked 128% over the past 12 months…” — starts Kelly Bird of InvestorIntel in an interview with Peter Clausi, CEO, President and Director of CBLT Inc. (TSXV: CBLT).
Peter Clausi: We have strong cobalt assets that are in demand globally. In fact we are going to Australia this week. By the time this video airs we should be back from Australia with results carrying out M&A activity with our Ontario and Quebec assets. In February of 2016 cobalt was at $21,750 a ton.
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Kelly Bird: And it is up to $75,000 at the moment, correct?
Peter Clausi: Right. Your 128% number is nice, but it is far more than that dating back to February of ‘16. Two years ago it has gone from $21,750.00. There is a decrease in supply. The Katanga Mine in the Congo is coming on stream. Whether it is going to reliably produce more cobalt or not is still up in the air to be seen. Katanga has had some issues and management they have had some compliance issues. They have had to restate financials and it is the Congo so infrastructure is a challenge.
Kelly Bird: CBLT is based in Canada. Most of your projects are in northern Ontario. I know your flagship project, Copper Prince, has had some really interesting sample results come back – tell us a bit more about this
Peter Clausi: We picked that property up about 2 years ago. We thought there was cobalt at the south end. Historically that property has been worked since the late 1880s. Significant amounts of gold, copper, nickel up in the north end. We thought there was cobalt in the south end and our work there has proven that up. We just got results back from the Ontario Geologic Survey, the district geologists that work on their own…to access the complete interview, click here
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