Cobalt prices break almost $2/lb higher today, hit new 9-year high of US$31.07/lb
The Cobalt shortage is intensifying.
Following a sideways consolidation for the past six months, the cobalt price published by InfoMine.com escalated sharply to US$31.07/lb today, the highest in nine years.
Cobalt is desperately needed for batteries to power electric cars, with car companies attempting to secure supplies and large miners holding back from meeting their demands.
Supply is expected to fall short of demand at least until 2025 and some analysts have predicted that cobalt prices will reach at least as high as the 2008 peak in excess of US$50/lb.
Castle Silver Resources is redeveloping former silver-cobalt mines in the Cobalt Camp in Northern Ontario. For further information, please seeĀ www.castlesilverresources.com
See the 6-month and 12 month charts for cobalt below.
Best regards,
Wayne
Wayne Cheveldayoff
Investor Relations
Granada Gold Mine Inc. (TSXV: GGM) and Castle Silver Resources Inc. (TSXV: CSR)
mobileĀ 416-710-2410
6-month chart
Ā
12-year chart
Related Posts
Tags
Share This
