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Cobalt company Cobalt 27 is seeing an ideal storm brewing for its key commodity as the adoption rate of electric vehicles (EVs) accelerate faster than even optimistic forecasts had speculated.
“Cobalt 27 is a proxy for the adoption of the EV,” executive chairperson Anthony Milewski tells Mining Weekly Online in an interview. “What our most recent raise tells one is that the thematic is picking up pace.”
With a continuing upward trend in the copper price in 2017, Namibia-focussed Weatherly International narrowed its loss for the six months to December 31 to $5.9-million, compared with a loss of $11.2-million in the six months to December 2016. Revenue after royalties for the six-month period as $47.7-million, 26% higher than in the comparable period in 2016, reflecting the increase in copper price.