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An Australian cobalt company backed by mining financier Robert Friedland is considering a listing on the Toronto Stock Exchange, sources familiar with the matter said, as demand for the battery-making metal soars amid supply shortages.
The company, called Clean TeQ Holdings Ltd., is already public in Australia and has seen its stock hit a record high thanks in part to a spike in cobalt prices this year.
Clean TeQ is talking to investment banks Macquarie Capital Markets Canada Ltd. and BMO Nesbitt Burns Inc. about a number of options, including raising additional funds through a Canadian offering, or a straight listing on the TSX, without raising new money right away, sources said.