Increased demand for lithium-ion batteries has more that doubled the price of cobalt over the past year, with looming shortages set to push prices even higher.
White Cliff Minerals (ASX:WCN) is a cobalt exploration company that has just had some promising drilling results from its Coglia Well in the Laverton region of Western Australia.
"The assays show that the Coglia projects is quite a substantial zone of mineralisation. We are seeing quite good cobalt numbers over about 5 kilometers of strike length and up to 500 meters wide" says the company's managing director Todd Hibberd.
White Cliff Minerals will undertake further testing before looking towards production.