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What are the top cobalt stocks of 2021? These TSX- and TSXV-listed cobalt companies have all seen year-to-date share price increases.
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Despite pandemic-related uncertainty, prices for cobalt, an essential element in the lithium-ion batteries used to power electric vehicles, have kicked off 2021 on an uptrend.
As the electric vehicle revolution continues to expand, demand for key battery metals like lithium, graphite and cobalt is expected to continue following suit accordingly.
Below is an overview of the five top cobalt stocks on the TSX and TSXV by share price performance so far in 2021. All year-to-date and share price information was obtained on April 5, 2021, using TradingView’s stock screener, and all companies listed had market caps above C$10 million at that time.
1. Fuse Cobalt (TSXV:FUSE)
Current share price: C$0.13; year-to-date gain: 225 percent
Fuse Cobalt, formerly LiCo, has ownership of the Teledyne and Glencore Bucke projects, two cobalt properties located in Canada’s historical Cobalt Camp in Northern Ontario.
Fuse’s Glencore Bucke property, subject to a back-in provision, a production royalty and an offtake agreement, consists of 16.2 hectares and sits along the west boundary of Fuse’s Teledyne cobalt project. The company owns a 100 percent interest, subject to a royalty, in the Teledyne project, which consists of 785 hectares of land and is also located near Cobalt, Ontario.
2. Surge Battery Metals (TSXV:NILI)
Current share price: C$0.20; year-to-date gain: 150 percent
Mineral exploration company Surge Battery Metals is focused on projects located in mining-friendly jurisdictions of North America.
The company has signed an option agreement with Fuse Cobalt to earn a 60 percent interest in its two principal cobalt properties, the already mentioned Teledyne cobalt property and the Glencore Bucke cobalt property. Aside from these cobalt-focused assets, the company has entered into a polymetallic property option agreement to acquire a 100 percent interest in seven mineral claims known as Caledonia, Cascade and Bluebell, subject to a net smelter royalty of 1 to 2 percent.
3. Fortune Minerals (TSX:FT)
Current share price: C$0.18; year-to-date gain: 125 percent
Fortune Minerals is developing its NICO cobalt-gold-bismuth-copper project, located in Canada’s Northwest Territories. The plan is for bulk concentrate from NICO to be shipped to a planned metals processing plant in Saskatchewan. The company is positioned to become a Canadian producer of battery-grade cobalt chemicals with gold and bismuth co-products.
The company also holds the Sue-Dianne copper-silver-gold deposit and other exploration projects in the Northwest Territories.
4. Battery Mineral Resource (TSXV:BMR)
Current share price: C$0.58; year-to-date gain: 75.76 percent
Battery Mineral Resource is engaged in the discovery, acquisition and development of battery and precious metals projects in Canada, with additional battery metals projects in the US and South Korea.
The company is the largest mineral claim holder in Canada’s historic Gowganda cobalt-silver camp, with various primary cobalt-silver-nickel-copper targets located in the Cobalt Belt of Ontario and Quebec. In addition, Battery Mineral Resource owns approximately 89.2 percent of ESI Energy Services, a pipeline equipment rental and sales company with operations in Leduc, Alberta, and Phoenix, Arizona.
5. Cobalt Blockchain (TSXV:COBC)
Current share price: C$0.10; year-to-date gain: 50 percent
Cobalt Blockchain has assets in the Democratic Republic of Congo (DRC) and is focused on strategic minerals, including tin, tantalum, tungsten, copper and cobalt.
Cobalt Blockchain has a definitive supply agreement for the provision of 40,000 tonnes per annum of cobalt concentrate, for which the company has begun initial arrangements to set up its cobalt trading facilities in the DRC. The company has entered into two definitive joint venture agreements for cobalt-copper concessions in the DRC, totaling over 48 square kilometers, and says it is actively engaged in negotiations on several other cobalt-copper properties and supply agreements.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Fortune Minerals is a client of the Investing News Network. This article is not paid-for content.
