High Grade Metals (ASX:HGM)
This cobalt junior has just acquired nine compelling projects in mining friendly EU jurisdiction, Austria, sandwiched between car manufacturing giants Germany and Slovakia.
Much has been made of Tesla’s influence, however traditional car manufacturers are also rapidly advancing their own EV vehicles and it is this trend that today’s company is looking to quickly tap into.
Being situated in Austria is extremely valuable to any cobalt junior with an eye to commercial production. Its location close to manufacturing plants is one of the advantages.
Another is that Austria is a mining friendly jurisdiction, a major factor for cobalt end users.
This company made the strategic decision to shift its focus from Western Australia’s goldfields to Europe, with an agreement to acquire Austrian Projects Corporation (APC) for A$5.4 million.
The deal delivers the company 100% of APC’s Austrian Cobalt and Gold Projects covering 44 square kilometres and including five gold projects over 170 square kilometres on top of the cobalt Project.
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The company has undertaken a restructure of its board, with two new experienced directors appointed and it is now focused on quickly advancing its projects into production.
The company has extensive and portfolio-wide potential to take advantage of significant forecast supply shortage in cobalt that is likely to drive prices substantially higher going forward.
Demand Soars as ASX Junior Picks Up Prospective Austrian Cobalt & Gold Projects
Mar 13, 2018
Today’s ASX junior has identified the opportunities on hand and as attention turns towards alternative cobalt markets, is shifting gears to capitalise on the promise of European cobalt discoveries.