The Investing News Network caught up with Anthony Milewski, CEO of Cobalt 27 Capital, at this year’s PDAC convention.
The Investing News Network caught up with Anthony Milewski, CEO of Cobalt 27 Capital (TSXV:KBLT), at this year’s Prospectors & Developers Association of Canada (PDAC) convention to get more insight on the cobalt market.
Speaking about how the cobalt market has performed this year, Milewski said that since last year the space has seen a significant and material selloff in cobalt.
“That has been driven by artisanal supply from the Democratic Republic of Congo,” he explained.
“We are currently in the US$15 mark; I anticipate that for the balance of the year we will see cobalt prices [reach US$25],” he said, adding that in the mid-term the market could see prices above the US$30 ceiling, “but that is 18 to 36 months out.”
Milewski also shared his thoughts on nickel, a metal that seems to be forgotten by many, but that will be essential for the electric car revolution that is taking place.
“The new demand for nickel, which will be tremendous, will come from batteries,” he said. As batteries move towards a cathode chemistry with eight parts nickel, one part cobalt and one part manganese, “tremendous pressure will be put in the Class 1 nickel market.”
In closing, Milewski shared insight on the strategy behind his company’s acquisition of Australia’s Highlands Pacific (ASX:HIG).
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.