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Cobalt (The next Uranium), Discussion
woteva
post Posted: Apr 19 2007, 03:32 PM
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Does anybody know of any ASX listed companies with major Cobalt deposits?

Cobalt is currently selling for around $30 per lb having doubled in recent times and this is just the begining.

Cobalt a metal that many have never heard of and when mentioned to people is greeted with looks of bewilderment. Cobalt in my opinion, has the most bullish medium term picture of all commodities at present. I believe that Cobalt will see $100 + in 2008 and will go even higher in 2009-2011.

It has a miriad of industrial uses with the most prominant being its use in HEV's(hybrid electric vehicles), new technology mobile phone batteries and high temperature alloys used in the latest jet aircraft. Of which China has orders for over 2000.

At present a HEV uses about 7-8lbs of cobalt and by 2010 there are expected to be 35 HEV models on the market and sales worldwide are BOOMING.

At present annual demand for Cobalt is growing at 5000-6000t pa and there currently exists a annual shortfall of 4500-5000t. With no new mine supply expected to come on line in the next 12 months, by mid 2008 the annual shortfall will be 10000t + and upward pressure will be immense.

Cobalt is set to go ballistic. It is where Uranium was in 2002.

And you heard it here first on SS biggrin.gif



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"If history repeats itself, and the unexpected always happens, how incapable must Man be of learning from experience."
GBS
 
 


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