Lithium/Cobalt Jrs $ABR.v $PE.v $BCN.v $NEV.v $DJI.v $LIX.v $MMJ.c $AIX.v $DGO.v $NMX.v $LAC.t $SIE.V $UMB.c $SRJ.v $GSW.v $CUZ.v Small Cap Fund Alpha North's Steve Palmer highlites GreenSwan Capital GSW.v in his June commentary ...one we've mentioned a few times recently...fyi... cheers, hsb
Fund Review The Fund returned 4.4% in June. In comparison, the TSX Venture index and TSX Total Return index returned 7.7% and 0.3% respectively during the month. The strong gains for the TSX Venture index have been lead primarily by the precious metal sector which has rebounded strongly from very depressed levels. The Fund participated in four private placements in June, all of which have performed well in the short term since the time of purchase, gaining by an average of 47%. All of these included warrants which will provide additional leverage to share price gains. One of these was a small investment in Green Swan Capital (TSXV:GSW), whose flagship asset is a cobalt property in Ontario. Cobalt is a ‘conflict mineral’ and a key component of lithium-ion batteries that are used in electric vehicles. The current price for cobalt is under $12/lb, a far cry from its high of $55/lb in 2008. Given the increased demand forecasted for electric vehicles over the coming years, we believe that the cobalt price will trend upwards over the coming years. GSW is one of the few pure-play cobalt companies with assets in a safe jurisdiction. Given the strong outperformance in lithium equities this year, we expect investors to reallocate some of those gains to more undervalued resource equities such as cobalt stocks. Cobalt would be a logical transition from lithium equities as they are both inputs in electric batteries. Current sector allocations are as follows: 40% technology, 24% life sciences, 9% consumer, 1% energy, 1% precious metals and 25% base metals.
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