Monday , 6 December 2021

These Cobalt Stocks Will Benefit From Increase In Production Of Lithium-ion Batteries

Lithium prices have recently rallied upon news of increased global demand of the metal in batteries for energy storage. That being said, lithium-ion batteries actually contain more nickel and cobalt than lithium yet cobalt demand seems to be receiving little attention. Today, we have identified five cobalt stocks leveraged to cobalt prices that would benefit from the anticipated increase in production of lithium-ion batteries.

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1. Caledonia Mining Corporation Plc (TSX: CAL)(CALVF) – $1.80 Canadian
Gold, copper, cobalt

Caledonia Mining Corporation Plc is involved primarily in the operation of a gold mine, and the exploration and development of mineral properties for precious metals.

The Company’s activities are focused on the Blanket Mine in Zimbabwe. Its segments include Corporate, Zimbabwe, South Africa and Zambia. The Zimbabwe segments include Caledonia Holdings Zimbabwe Limited and subsidiaries. The Zambia segments consist of Nama copper project and cobalt project. The South Africa segment comprises a gold mine, as well as sales made by Caledonia Mining South Africa Proprietary Limited to the Blanket Mine.

  • Market Cap: $94 million CAD
  • Total Revenue (LTM): $2,598 million CAD
  • Total Debt (FQ0): $2.0 million CAD
  • YTD Price PCT Change: +24.1%

2. eCobalt Solutions Inc. (TSX: ECS)(ECSIF) – $0.80 Canadian
Diversified Mining

eCobalt Solutions Inc, formerly Formation Metals Inc, is a mineral exploration and mine development company.

Its primary project is Idaho Cobalt Project (ICP), which is located in the mining state of Idaho. ICP property covers an area of approximately 4,080 acres and includes over 170 mining claims. ICP consists of the mine, mill and concentrator, referred to as the Mine & Mill (M&M) located in Lemhi County outside of the town of Salmon, Idaho, and a hydrometallurgical plant. Its property also includes Wallace Creek, in which the Company has interest in certain mineral claims located in Lemhi County.

  • Market Cap: $85 million CAD
  • Total Revenue (LTM): $0
  • Total Debt (FQ0): $0
  • YTD Price PCT Change: +48.1%

3. Fortune Minerals Ltd. (TSX: FT)(FTMDF) – $0.17 Canadian
Diversified Mining

Fortune Minerals Limited is a Canada-based development-stage mining company engaged in developing, mining and processing precious and specialty minerals projects. It is focused on NICO gold-cobalt-bismuth-copper project, consisting of a proposed mine and mill in the Northwest Territories that will produce a bulk concentrate for shipment to a refinery that it focuses to construct in Saskatchewan.

The NICO Gold-Cobalt-Bismuth-Copper deposit is located in the Northwest Territories approximately 160 kilometers from the city of Yellowknife. The products that will be produced at the refinery include cobalt chemicals used to make rechargeable batteries, bismuth metals and chemicals, as well as gold.

  • Market Cap: $46 million CAD
  • Total Revenue (LTM): $0
  • Total Debt (FQ0): $4.7 million CAD
  • YTD Price PCT Change: +36.0%

4. Katanga Mining Ltd. (TSX: KAT)(KATFF) – $0.20 Canadian
Specialty Mining & Metals

Katanga Mining Limited is a Switzerland-based holding company. The Company, through its subsidiaries, produces copper and cobalt metal and that have copper and cobalt assets in the Democratic Republic of Congo (DRC).

Through its subsidiaries, it operates mining and processing facilities for the production of copper and cobalt; conducts exploration and development of properties with the potential to yield copper and cobalt mineral resources, and holds a number of other mines.

  • Market Cap: $379 million CAD
  • Total Revenue (LTM): $343 million CAD
  • Total Debt (FQ0): $4,344.8 million CAD
  • YTD Price PCT Change: +42.9%

5. Sherritt International Corp. (TSX: S)(SHERF) – $1.48 Canadian
Specialty Mining & Metals

Sherritt International Corp is engaged in mining and refining of nickel from lateritic ores with operations in Canada, Cuba and Madagascar.

The Company’s segments include Metals, Oil and Gas, Power, and Corporate and Other. The Metals segment includes mining, processing and refining nickel and cobalt from lateritic ore bodies. It has a partnership with General Nickel Company S.A. (GNC) of Cuba (the Moa Joint Venture) and approximately 40% interest in the Ambatovy Joint Venture that owns a nickel operation in Madagascar. It also includes the production and sale of agricultural fertilizers at its operations in Fort Saskatchewan. The Oil and Gas segment includes the oil and gas operations in Cuba, as well as the exploration and development of oil and gas in Cuba, Spain and Pakistan. Its Power segment includes power-generating assets, located in Cuba.

  • Market Cap: $435 million CAD
  • Total Revenue (LTM): $268 million CAD
  • Total Debt (FQ0): $2,281.9 million CAD
  • YTD Price PCT Change: +11.3%
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