Playing with fire
By Andrew Mickey
Well, it finally happened. We’ve been playing with fire for the past few months and now the whole world is about to get burnt.
Today, the big accident that was going to send cobalt prices soaring finally happened. Earlier today, an explosion in Zambia’s largest cobalt production facility rocked the cobalt market. Keep in mind, Zambia produces 14% of the world’s cobalt supply.
Before the explosion, demand for cobalt for batteries in laptops, cell phones, and hybrid cars was already outstripping supply. And that’s how accidents like this happen. The cobalt producers are running in overdrive and an accident like this was bound to happen. You can bet the explosion isn’t going to help alleviate the problem either.
We’re going to need an investigation, increased safety measures, and probably some more government regulation before the facility is allowed to come back on line. Realistically, it could be months before this crucial supply is brought back to market!
But here’s the kicker, cobalt prices haven’t shot up yet and we haven’t seen the pending spike in cobalt stocks’ prices. There are two reasons for this:
First, the full effects of the accident haven’t hit the markets yet. But when the largest production facility in a country that provides 14% of the world’s cobalt supply goes up in smoke, you can bet there is going to be rising prices right around the corner.
Secondly, although you won’t read about it in any financial newspapers, the Vancouver Canucks NHL hockey team won its game seven match-up last night with the Dallas Stars. After a long night of celebration, there’s just no one at work in the city’s financial district to interpret the news and start buying up cobalt stocks.
It’s still not too late to get into my top cobalt play. Learn more here from the accelerated supply crunch in cobalt.
That’s all for now,
Andrew Mickey
Senior Analyst, Small-Cap Commodity Prospector
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