Is Cobalt About to Take Off?
May 5th, 2009 | By Contrarian Profits | Category: Notes From the Investment UndergroundMany in the underground are talking about cobalt these days, as well as the more commonly known oil and gas.
Cobalt is one of the most important metals in next-generation manufacturing.
When combined with iron or nickel, it is used to create corrosion- and wear-resistant, high-strength products. It’s also contained in both lithium and nickel rechargeable batteries.
That means a lot of demand now and into the future. But right now, hardly anybody’s mining it. See, as the economic crisis wormed its way into industries across the globe, demand for cobalt softened. One year ago, cobalt was priced over $50. Today it’s priced at around $16.
Notes can reveal that one tiny company holds the key to the U.S. supply of cobalt. And it just got final clearance to break ground on one of the biggest moneymaking mines the U.S. seen in decades. The supply shortage could launch this penny stock to $10… $12… even $18 by November 20, 2009.
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