Lithium and cobalt prices have been on the rise recently due to worries that the supply of the important [battery producing] metals may not be able to keep up to pace with the increasing demand.
November 29, 2017 /PRNewswire/ — Once an unlikely hero in precious metals, cobalt continues to shine and outpace all expectations as global demand skyrockets in light of the rising number of electric vehicles. Cobalt prices alone have nearly doubled since the start of 2017 to trade near $29 per pound, according to data from Metal Bulletin. Although the searing pace could potentially hurt the long-term supply of the resource, cobalt leaders are releasing impressive results from excavations to boost performance and provide lucrative revenue streams as 2017 comes to a close. Cobalt/Lithium miners with developments include: LiCo Energy Metals Inc. (OTC: WCTXF)(TSX-V: LIC), eCobalt Solutions Inc. (OTC: ECSIF) (TSX: ECS), Lithium Americas Corp. (TSX: LAC.TO) (OTC: LACDD), Rio Tinto plc (NYSE: RIO), Glencore plc (OTC: GLNCY) (LSE: GLEN).
With most major automotive manufactures stating plans to have large portions of there fleets either hybrid or entirely electric by, in some cases, as soon as 2023(Gm plans 20 models over next 6 yrs). These developments as well as other positive catalysts in the coming weeks and months should prove to be promising for Lithium Americas(TSX: LAC.TO) (OTC: LACDD)
** we are currently long TSE:LAC but as always the opinions stated are that just opinions, you make and are responsible for your choices and investments