PCRCF Pacific Rim Cobalt breaking out on new Drill Results.
Multiple bullish signals on the chart as a result of positive drill data.
Bullish RSI reversal
MACD bullish cross on reversal.
Histogram ticking green
Huge volume spike
Possible Cup & Handle forming
Bull flag developed
Stoch has bottomed ready to move higher.
"The Company is very pleased with this latest round of drill results. The elevated cobalt values are of significant importance, considering the commodity’s recent price increase and the role it plays in the battery metals supply chain. Both our cobalt and nickel results continue to add to our optimism that the Cyclops project will create shareholder value," remarked Ranjeet Sundher, President and Chief Executive Officer of Pacific Rim Cobalt.
George Heppel, head of cobalt and lithium analysis at CRU International, recently stated: “When we look at the EV market over the next 10 years, we see the big increase coming in 2020 to 2021. That will be the crunch time for global demand for cobalt as the big car companies, the BMWs, the VWs, Ford, and Daimler are set to increase production.” He estimates demand for cobalt for car batteries will grow by between 24% and 35% every year from 2020 to 2023. Even if Glencore brings Mutanda back on stream (the shutdown is for “care and maintenance”), and with the artisanal miners producing anything up to 40,000 tonnes a year, Mr Heppel believes it won’t be sufficient to meet demand. “There needs to be new supply of cobalt.”
Pacific Rim Cobalt Corp. engages in the acquisition and development of production grade cobalt deposits. Its project include Pacific Cobalt Corp's Cyclops property. The company was founded on June 6, 2017 and is headquartered in Vancouver, Canada.
Bullish RSI reversal
MACD bullish cross on reversal.
Histogram ticking green
Huge volume spike
Possible Cup & Handle forming
Bull flag developed
Stoch has bottomed ready to move higher.
"The Company is very pleased with this latest round of drill results. The elevated cobalt values are of significant importance, considering the commodity’s recent price increase and the role it plays in the battery metals supply chain. Both our cobalt and nickel results continue to add to our optimism that the Cyclops project will create shareholder value," remarked Ranjeet Sundher, President and Chief Executive Officer of Pacific Rim Cobalt.
George Heppel, head of cobalt and lithium analysis at CRU International, recently stated: “When we look at the EV market over the next 10 years, we see the big increase coming in 2020 to 2021. That will be the crunch time for global demand for cobalt as the big car companies, the BMWs, the VWs, Ford, and Daimler are set to increase production.” He estimates demand for cobalt for car batteries will grow by between 24% and 35% every year from 2020 to 2023. Even if Glencore brings Mutanda back on stream (the shutdown is for “care and maintenance”), and with the artisanal miners producing anything up to 40,000 tonnes a year, Mr Heppel believes it won’t be sufficient to meet demand. “There needs to be new supply of cobalt.”
Pacific Rim Cobalt Corp. engages in the acquisition and development of production grade cobalt deposits. Its project include Pacific Cobalt Corp's Cyclops property. The company was founded on June 6, 2017 and is headquartered in Vancouver, Canada.