Alloy Resources Limited (ASX: AYR)
Many ASX investors over recent years would have no doubt witnessed numerous graphite and lithium stocks propel themselves to greater valuations on the back of anticipated surge in lithium ion battery production.
But there is another metal used in lithium ion batteries set to spark the imagination of investors over the coming months – and that is cobalt.
The battery industry currently uses 42% of global cobalt production, and is a critical metal for lithium-ion cells. Consequently, cobalt has rapidly moved into calculation amongst savvy resource investors.
One tiny ASX-listed company has quietly acquired a license for a significant cobalt prospect near Broken Hill in NSW, in an attempt to address this growing supply demand problem.
Broken Hill is believed to contain one of the largest undeveloped cobalt reserves in the world.
In late January, really just a few days from now, this little stock, currently capped at just $7.7M, will be drilling for extensions to known cobalt-gold mineralisation…
The superalloy cobalt is one of only three naturally occurring magnetic metals, along with iron and nickel and has long been valued for its colour and its versatile properties – it’s rust resistant and retains its properties at high temperatures. Ancient civilisations used cobalt in ceramics and glass, and more recently its use has been […]
Jan 17, 2017
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Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.