FULL DISCLOSURE: Hybrid Minerals Inc. is a paid client of Stockhouse Publishing.
The automotive industry has a serious problem. There is a push to turn production toward electric vehicles, but the batteries that will power these vehicles is short on one key ingredient – cobalt. The price of cobalt has quadrupled over the last two years to roughly $40 a pound ($85 a kilogram) thanks to its rarity.
Add to this the challenge of just getting access to the metal, as much as 60% of the world’s supply comes from the Democratic Republic of Congo, an embattled region to say the least.
A Canadian-based exploration company is rising to meet this challenge and is one step closer to bringing the United States’ only cobalt mine into current production. Hybrid Minerals Inc. (TSX: V.HZ, Forum) is focused on the acquisition and development of production-grade cobalt deposits and has a 100% stake in the advanced exploration CAS cobalt and gold project located in the Idaho Cobalt Belt.
Cobalt was what initially attracted the Company to this portfolio, as it saw a lot of potential for future extraction of this elusive metal. As investors in this space are aware, anyone after cobalt in the United States must go through the Idaho Cobalt Belt. It is the prime cobalt exploration area in the country with a congregation of exploration programs underway.
Hybrid Minerals focused its attention on the CAS property when survey results returned high-grade cobalt and gold occurrences. While the property is relatively new to Hybrid, it has been explored since 1967 and has 19 drill holes peppered across the landscape. Extensive surface sampling and geophysical work done on the property also gives HZ a thorough map to follow, like hunting for buried treasure.
For the rest of this article: http://www.stockhouse.com/news/newswire/2018/03/27/unearthing-results-from-idaho-s-cobalt-belt