Cobalt surges more than US $2/lb, hitting 9-year high of US$34.06/lb
Tight supply and rising demand for cobalt for use in electric car batteries is causing the cobalt price to continue to climb, hitting a 9-year high of US$34.06/lb, which is more than triple the low of US$10/lb in the summer of 2016.
See 6-month and 12-year charts below.
Note that Castle Silver Resources Inc. is redeveloping two cobalt-silver mines in the Cobalt Camp in northern Ontario with the goal of resuming production of cobalt.
The main focus is the former Castle Silver Mine property but the Beaver property also shows excellent cobalt potential. The latest Castle news release reported bulk samples from Beaver with grades averaging 4.7% Cobalt. Link to
A Dec. 1 news release reported underground bulk samples with grades as high as 3.1% cobalt at the Castle property where the company has access to the underground workings through an adit (the only company in the Cobalt Camp with such access). Link to release:Ā https://www.castlesilverresour
Six-Month Chart
12-year Chart
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