Top Cobalt Stocks of 2018 on the TSXV

Interest in cobalt continues to surge, with increasing demand for electric vehicles driving the market.

Last year, cobalt metal prices increased more than 130 percent, fueling investor excitement. Since then, cobalt has made news headlines again and again, as more carmakers and tech companies continue to look for long-term supply of the critical metal.

To help investors get an idea of the current cobalt company landscape, we’ve put together a list of TSXV-listed cobalt stocks with year-on-year gains. All companies listed had market caps of at least $10 million as of April 3. If we missed a cobalt company that meets the above criteria, please let us know in the comments.

1. Cobalt Blockchain (TSXV:COBC)

Current price: C$0.30; year-on-year gain: 1,120 percent

Cobalt Blockchain, formerly Peat Resources, is a resource firm that is expanding its exploration and development business to include cobalt assets in the Democratic Republic of Congo (DRC). It has been authorized by its shareholders to acquire a 100-percent interest in an existing metals trading business specializing in sourcing conflict-free minerals from artisanal and small-scale mines in the DRC.

It’s been a busy quarter for Cobalt Blockchain. In January, the company announced and closed a private placement for C$750,000. That same month, Cobalt Blockchain acquired Belair African Metals.

In March, Cobalt Blockchain engaged Better Chain to provide a blockchain-based platform to demonstrate the compliance of cobalt and other minerals with international standards on responsible procurement. Shareholders also approved the company’s name change from Peat Resources to Cobalt Blockchain. On March 22, Cobalt Blockchain announced definitive joint venture agreements on cobalt projects in the DRC and filed a cobalt trading and export license.

On April 3, Cobalt Blockchain, together with DLT Labs, signed a letter of intent to establish a joint venture to provide secure, traceable and transparent methods for tracking and certifying the provenance of metals and minerals.

2. Giga Metals (TSXV:GIGA)

Current price: C$0.37; year-on-year gain: 270 percent

Giga Metals, formerly Hard Creek Nickel, is interested in metals that are necessary for modern batteries, particularly cobalt and nickel. The company says its BC-based Turnagain project contains “substantial quantities of these two critical battery metals.”

In January, the company signed a communications agreement with the Tahltan central government regarding its project. During the same month, Giga Metals closed a private placement for C$2,414,000.

3. Cobalt 27 Capital (TSXV:KBLT)

Current price: C$12.99; year-on-year gain: 121.42 percent

Cobalt 27 Capital is a minerals company that offers pure-play exposure to cobalt. The company intends to acquire and hold physical cobalt, as well as manage and grow a cobalt-focused portfolio of streams, royalties and direct interests in mineral properties containing cobalt. The company started trading on the TSXV on June 2017 after closing a C$200 million IPO, the largest in Canada since 2012.

In February, the company signed a deal with RNC Minerals (TSX:RNX) for a royalty on the Dumont mine. In March, Cobalt 27 closed a private placement for C$200 million.

4. US Cobalt (TSXV:USCO)

Current price: C$1.09; year-on-year gain: 49.32 percent

US Cobalt, formerly Scientific Metals, is an exploration company focused on the acquisition and development of production-grade deposits of metals that are critical components of modern-day rechargeable batteries. Its Iron Creek cobalt property is located in Idaho along the Idaho Cobalt Belt.

In January, the company announced positive results from a drilling program at Iron Creek. In February, US Cobalt announced the start of an underground drilling program. In March, US Cobalt was acquired by First Cobalt (TSXV:FCC), a transaction that is expected to be completed in May.

5.Cruz Cobalt (TSXV:CUZ)

Current price: C$0.24; year-on-year gain: 41.18 percent

Cruz Cobalt is focused on acquiring and developing high-grade cobalt projects in politically stable, environmentally responsible and ethical mining jurisdictions, with the goal of serving the rapidly growing rechargeable battery and renewable energy sectors.

In January, the company significantly increased its land holdings on its 100-percent-owned Purcell cobalt prospects in BC; it also tripled its land holdings surrounding the War Eagle cobalt prospect in BC. In February, Cruz Cobalt increased its acreage in Ontario’s Cobalt District. During the same month, the company started the process of applying for a drill permit for its Idaho Star cobalt prospect.

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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Cruz Cobalt is a client of the Investing News Network. This article is not paid-for content.