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$SCTFF #7 Cobalt Prices To Rocket As Tesla And Apple Scramble For Supplies

http://oilprice.com/Energy/Energy-General/Cobalt-Prices-To-Rocket-As-Tesla-And-Apple-Scramble-For-Supplies.html

here’s a new metal in town, and it’s bigger than lithium—and hotter than any other commodity on the market right now.

Supply is fantastically tight and set to get phenomenally tighter.


#5 Financed and Ready to Redefine the Cobalt Playing Field

Demand for cobalt for rechargeable batteries to power our energy revolution is set to explode over the next five years. Scientific Metals isn’t crashing this party, it’s planning on being one of the key hosts. To do that, it’s perfectly positioned itself in the prolific Idaho Cobalt Belt, and it’s eyeing more acquisitions to expand.

Tisdale and the team are major stakeholders in STM, with 35 percent ownership, and they are focused on maintaining sound structure while creating shareholder value. So far, they’ve secured $3.5 million in financing to develop this project, and they’re fully financed for this year’s exploration program.

The goal for this year is to prove up at least 10 million tons of cobalt resource. At .59 percent cobalt and using today’s prices, this resource could be worth a potential $1 billion. Scientific Metal’s strategic vision is to become the largest pure play cobalt, advance projects towards production and sell to a major.

With cobalt prices set to experience a major spike that goes beyond the lithium craze, and a growing numbers of buyers under pressure to source only ethical cobalt right when demand starts to surge, Scientific Metals (TSX:STM.V; OTC:SCTFF) has carved out an ideal project that could put it on the map as one of only two U.S. producers to corner this market.

If you thought lithium was exciting, try cobalt. As global consumption for refined cobalt is set to reach 100,000 tonnes in 2017, Scientific Metals could be sitting on its ‘own private Idaho’ in the definitive break-out period.

By James Burgess of Oilprice.com