Interest in cobalt continues to surge, with increasing demand for electric vehicles driving the market.
At the moment, cobalt supply isn’t sufficient to meet this impending demand, and prices for the metal are on the rise. Many investors are looking to cobalt-focused companies as a way to take advantage of this exciting environment.
To help investors get an idea of the current cobalt company landscape, we’ve put together a list of TSXV-listed cobalt stocks with year-to-date gains. All companies listed had a market cap of at least $10 million as of October 16, 2017.
1. US Cobalt (TSXV:USCO)
Current price: $0.58; year-to-date gain: 1,188.89 percent
US Cobalt, formerly Scientific Metals, is an exploration company focused on the acquisition and development of production-grade deposits of metals that are critical components of modern-day rechargeable batteries. Its Iron Creek cobalt property is located in Idaho along the Idaho Cobalt Belt.
In July, the company provided an update on Iron Creek, and later the same month it intersected 1.02 percent cobalt mineralization in a sample. In September, US Cobalt decided to expand its drill program.
2. Cobalt Power Group (TSXV:CPO)
Current price: $0.14; year-to-date gain: 190 percent
Cobalt Power Group is focused on cobalt exploration and development. It has made a series of strategic property acquisitions over the past year, seeking cobalt mineralization near Cobalt, Ontario in Canada. The company’s projects include the Smith cobalt project, the Brownell property and the Lauriel project.
In July, Cobalt Power Group discovered a new mineralized zone at Smith and acquired additional hectares in the area. In September, the company purchased the Coleman Township properties and announced the start of a drill program at Smith.
3. Castle Silver Resources (TSXV:CSR)
Current price: $0.17; year-to-date gain: 142.86 percent
Castle Silver Resources has a portfolio of high-grade past-producing silver and cobalt properties in Ontario’s Gowganda and Cobalt mining camps. Its flagship asset is the Castle silver mine property, which operated at various times between 1917 and 1989.
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