Cobalt's time to shine: Clean Teq
Clean Teq Holdings (ASX:CLQ) owns a world-class, shallow, high-grade scandium/nickel/cobalt deposit at Syerston in outback NSW. The core elements within this deposit are critical ‘future economy’ minerals including:
• scandium (for use in light-weight alloy strengthening such as in jet aircraft), with CLQ recently signing a collaboration agreement with French giant, Airbus, and
• cobalt (for use in lithium-ion batteries) for which the world’s rapidly evolving battery manufacturing industry has no reliable western world supplier.
CLQ is co-chaired by executive director, Sam Riggall, who was previously Rio Tinto’s lead negotiator on its enormous +US$20bn Oyu-Tolgoi copper mine in Mongolia. Riggall’s co-chair at CLQ is Robert Friedland, a billionaire resources industry veteran who recently addressed CLQ investors on a global roadshow and shared his vision of Syerston as being a game-changing project for CLQ.
The company also has a water purification business with pilot projects in China which we expect will be realised at a good premium to its current valuation in the short to medium term. Read more