Note the Total Asset growth over the past 9 months from $889,313 to $3,163,767.
- That’s asset growth of 255%
CRU has been strong for much of 2018, climbing from a low of $0.50 on January 2nd to a high of $1.35 on March 14th.
Since hitting that high CRU slid back to the $1 to $1.10 range where it seems to have plateaued. On Friday it closed at $1.10 and the chart is showing signs of green.
- StockTA’s Analysis is currently “Overall: Bulllish”
- Barchart’s Opinion is currently Green
Add “Hidden Gem” TSX.V: CRU to your watchlist right away:
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Cameo Resources Corp.
Quotes, Charts and Analysis:
CRU Quote and Opinion
Before we jump into the details of Cameo Resources let’s take a quick look at some staggering market numbers and facts relevant to the company’s projects.
- The global lithium-ion battery market size is expected to reach $93.1 billion by 2025 and growing at a CAGR of 17%
- Benchmark Mineral Intelligence has predicted lithium price will continue to climb, noting “There’s not enough supply to meet the demand, and the demand is increasing quicker than the supply is. Much, much quicker.”
- Increased usage of lithium-ion batteries in electric vehicles, portable consumer electronics and grid storage systems owing to its high energy density and high safety level is expected to drive market demand
- LME cobalt prices started 2017 at $32,500 per tonne and in December LME cobalt prices reached as high as $75,000
- “The dominant trends in 2018 will be tight supply and increasing demand leading to higher prices, driven by rising demand primarily from the EV industry”- Benchmark Minerals Intelligence
- Total supply needed to meet demand for all cobalt uses in 2018 will be 105,000 tonnes. However, more than 50 percent of the world’s supply comes from the DRC, a politically unstable country where mining has been linked to child labor
We point out these figures and facts out because Cameo Resources has multiple projects involving Lithium and Cobalt- both of which are necessary components in the current lithium ion battery revolution.
Most recently CRU announced they had submitted an exploration permit application to carry out certain exploration activities on their newly acquired Gochager Lake Copper-Cobalt-Nickel project. Once the applicable exploration permit is approved, CRU will immediately relocate a drill rig to the property and begin with the spring exploration campaign.
As pointed out in the March press release the Gochager Lake Copper-Cobalt-Nickel Project consists of four claims covering 3,759 hectares and is located in northern Saskatchewan approximately 75 km north of the town of La Ronge.
Historical exploration has identified a semi-massive and massive Ni-Cu deposit withsignificantly elevated levels of Cobalt, a vital component in the manufacture of the latest generation of lithium ion batteries.
The Gochager Lake Copper-Cobalt-Nickel project has reported grades of up to 3.92% Nickel, 0.70% Copper and 2.86% Cobalt as reported by the Saskatchewan government.
Again, let me point out:
According to data compiled by BMO Capital Markets, cobalt prices are expected to rise significantly in the next two years. BMO also indicated China's continuously growing market for rechargeable batteries and its importance for the lithium and cobalt markets
According to data reported by Research and Markets, the global demand for cobalt will increase by 10% from 2018 to 2022. The global consumption for cobalt increased 4.3 percent to 103,000 tons in 2016, driven primarily by rapidly developing lithium-ion battery technologies, around three-quarters of which are set to use cobalt chemicals by 2020
Akash Patel, President of Cameo sums up the company’s optimism surrounding this metal, "Cobalt prices are trading at 10-year highs, as demand continues to surge and very little supplementary supply to compensate has emerged. The demand for battery metals appears to be at the beginning of long-term bullish cycle. Cameo continues to tactically position itself for the enviable stampede to secure sustainable energy metal deposits. Recently, Apple Inc. announced it is in negations to purchase cobalt directly from miners with sustainable supply chains and legitimate extraction practices. Cobalt is a critical ingredient in lithium-ion batteries that power Apple's iPhones, iPads, Apple Watch, and MacBooks. The Company is very much excited to have secured a cobalt project with such a high degree potential to capitalize on this megatrend."
It’s important to note that CRU is more than just the Gochager Lake Copper-Cobalt-Nickel project. In fact they have multiple projects and earlier in March they filed an NI 43-101 Technical Report for their Silver King North Project, located south of Houston, BC and is contiguous with the Silver Queen Project owned by New Nadina Explorations Ltd. It consists of two blocks containing 14 mineral licenses covering more than 16,273 ha (40,194 acres). In addition to a property border with New Nadina, the Silver King North Project also shares contiguous claims with publicly traded Tasca Resources Ltd. and most recently Resolve Ventures Inc.
In addition to their Silver King North Project the company also has multiple projects involving Lithium, projects that have revealed significant levels of the metal.
- Dumont Lithium Project- identified elevated lithium (344 ppm Li2O) sampled at the Dumont Lithium Project clustered along an approximate 300 metre strike with three other samples that also returned anomalous Li2O (129 ppm, 146 ppm, 174 ppm)
- Spodumene Lake Project- covers 4,484 ha in the immediate vicinity of by Nemaska Lithium Inc.’s proposed Whabouchi lithium mine and is as close as 560 metres from the Nemaska Lithium Inc. Whabouchi project
- Whabouchi Regional Lithium Project- covers more than 19,000 hectares near Nemaska Lithium Inc.’s advanced Whabouchi lithium deposit. Field work from the summer of 2016 identified up to 344 ppm Li2O (equivalent to 160 ppm Li reported by independent Actlabs in Ancaster, Ontario) from 182 chip grab samples
To see a detailed description of all of CRU’s projects visit:
I mentioned earlier the positive outlook for alternative energy sources and followed that with some very impressive facts and figures supporting that statement. What’s clear is that lithium ion batteries are a driving force in this alternative energy sector with lithium and cobalt integral components to these batteries. Recognizing the potential in this market CRU has carefully identified and pursued multiple projects involving lithium and cobalt, projects that have already shown significant levels of these two metals.
As more and more countries adopt policies in favor of alternative energy sources the demand for lithium and cobalt will continue to climb. At the moment CRU has positioned themselves favorably for the future and now could be the perfect time to take a close and serious look at the company.
CRU closed Friday a bit over $1
For additional information on Cameo Resources (TSX.V:CRU) feel free to visit the links included within this profile.
If you have not done so yet, please do your research on TSX.V:CRU right away and enjoy.
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