Top Cobalt Stocks of 2018 on the TSXV

While prices for cobalt have spent the last six months simmering down, demand for the battery metal is still visible on the market, driven by electric vehicle uptake.

As the electric vehicle revolution continues to expand, demand for commodities like lithium, nickel and cobalt is expected to continue following suit accordingly.

Below we run through the three top cobalt stocks of the year on the TSXV by share price performance. All year-to-date and share price information was obtained on December 17, 2018 from TradingView, and all companies listed had market caps above C$ 5 million at that time.

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1. Canada Cobalt Works (TSXV:CCW)

Year-to-date growth: 42.86 percent; current share price: C$ 0.50

Canada Cobalt Works is a cobalt-focused company that is exploring past-producing cobalt-silver mines in Canada. The company’s assets include the Castle property, the Beaver property, the Violet property and the Golden Corridor zone; 2018 has seen a significant focus on Castle from the company.

While the company’s share price hit a bit of a snag starting in April, reaching its lowest point of 2018 at C$ 0.26 in early May, it heated up in the summer. In late June, Canada Cobalt Works announced it had set up a pilot plant at its Castle mine, which helped boost its share price and propelled the company through the warmer months. Drilling at Castle has been ongoing in the latter half of 2018.

2. Cobalt Blockchain (TSXV:COBC)

Year-to-date growth: 23.53 percent; current share price: C$ 0.105

With a focus on cobalt in the Democratic Republic of Congo (DRC), Cobalt Blockchain is implementing a model that uses a blockchain platform for mineral traceability, ensuring the ethical sourcing of materials. The company has teamed up with Better Chain and DLT Labs for this project, and has a letter of intent with Traxys Europe to set up a commercial partnership for Traxys’ cobalt hydroxide plant in the DRC.

Though the company has seen a relatively quiet year, its share price began to surge in late February after Cobalt Blockchain — then named Peat Resources — closed a private placement for $ 1.1 million. Shares hit their highest point of C$ 0.40 in March, after the company announced two joint ventures for cobalt-copper concessions in the DRC and submitted an application to DRC authorities for a cobalt-copper trading and export license.

3. BlueBird Battery Metals (TSX:BATT)

Year-to-date growth: 14.29 percent; current share price: C$ 0.20

Focused on exploring and developing strategic battery metals projects, BlueBird Battery Metals has a particular scope on copper, cobalt, nickel and vanadium. Striving to be a leader in the battery metals sector, the company has two primary assets: its Canegrass project and its Ashburton project, both of which are located in Western Australia.

2018 has been a year of ups and downs for BlueBird, but with that rollercoaster movement came some significant highs. The first was in late May, when the company began an initial exploration program at Canegrass; the next came in July, when Bluebird acquired 726 square kilometers worth of exploration licenses in the Broken Hill camp in New South Wales.

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Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Canada Cobalt Works and Cobalt Blockchain are clients of the Investing News Network. This article is not paid-for content.

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