We're here in Vancouver at VRIC 2019 and joining me now is Mitchell Smith
Mitchell, welcome. Tell us about your company, but let's start with where are you listed in, what's your symbol?
Definitely. The company is Global Energy Metals.
We're listed on the TSXV, ticker symbol is "GEMC"
But you are specializing in cobalt -- when I say you are a cobalt corporation, I mean really, that is your focus.
100% cobalt focus. We have been since
starting this company and really we've been involved as a management team in the cobalt space for over a decade
so this is nothing nothing new to us and
we believe that sector's building as we speak.
So when we go back 10 years ago, the cobalt market was really only just starting to emerge. Where is it at now?
Yeah, and you know it's evolved so much in the last decade
You know really before it was a specialty metal that was used in industrial application and strengthening of steel.
Since then it's really changed into the battery space and into the chemical --
critical into the chemical formulations that are used in the electric vehicle space:
portable electronics,
you know all of that.
Well and it becomes fundamentally important --
has China not just announced that they're planning on building a million electric cars a year?
Yes
And so the demand is going to be there.
It's huge. The demand is really what you know -- we talk about
the company being powered by cobalt and driven by demand and really that is where the demand is coming from.
It's from the adoption of electric vehicles and such.
Globally, not just here in North America, but in China and India and elsewhere.
You know people here go on an awful lot about lithium
of course because it's so much in the batteries. People don't necessarily understand how vitally important cobalt is to the whole process.
Enlighten us.
So you're right. I mean, you know lithium for instance is is about two percent
of a battery and in terms of weight
Cobalt makes up about seven percent of that
So really, cobalt, it flies under the radar and unfortunately
so, and it's only been in the last year, two years, that
people have realized the the importance of cobalt to the battery space.
So what is so important about cobalt within a lithium battery?
You know, there's a lot of talk right now about substitution and removing cobalt.
Even people like Elon Musk with Tesla --
sitting in a Tesla right now and they're saying we are trying to eliminate cobalt from the battery.
It's not going to happen anytime soon.
Cobalt is so crucial to the thermal stability of the battery packs.
You know groups like Volkswagen who just --
they're talking about putting billions of dollars into the battery in the electric vehicle space and
removing all internal combustion engines from their fleets.
They don't want to have another another diesel gate or another thermal gate is how I like to talk about it and
Cobalt is critical to that role.
Well they don't want batteries exploding and burning up on them either because without cobalt, is that not the big risk that we run?
One of the biggest risk is because of that for sure -- is that thermal stability and keeping the charge and the
ability to, for the longevity of
those batteries.
So let's talk about where you're getting your cobalt. What properties do you have under development or
what stages are they at?
That's important. The supply and you know
I think everybody understands that there's there's going to be a demand for cobalt and
batteries as we move forward and as this adoption happens, but where does that supply come from?
You know right now 98% of it is a byproduct from copper and nickel production
65% of it's coming from the DRC
which is a very challenged jurisdiction to not only mine in but
politically and infrastructure speaking. So we looked at this differently and we went to top tier mining
jurisdictions in the world. We have the Millennium cobalt project in Australia, in Queensland, Australia,
we have
the Werner Lake cobalt mine in Ontario and today we actually announced the
the option for an 85% interest in two
high-grade cobalt projects in in Lovelock, Nevada
150 kilometers away from the gigafactory from Tesla
So what stage of development are you at, at those properties?
Earlier stage exploration on the Nevada assets,
the Werner Lake project is a past historic cobalt mine
So you know there's a resource there?
We know there's something there
It's being being advanced through a partnership with a group called Marquis Resources out of Australia.
They're putting two and a half million dollars into it.
Global Energy gets a carry and
the Millenium Cobalt asset, we're just completing a 100% acquisition on that.
We've completed a drill program,
we'll be updating the resource on that in the next couple of weeks.
So it's still in the Exploratory stage? It's still
Exploration, but there's a lot of upside to that exploration.
We'll be looking at doing a secondary program now that we've confirmed, we've been able to not only confirm the
historics, did a metallurgical and be able to show that there's some opportunity on the concentrate level and
We now understand that there's other targets that we want to be able to hit moving forward and we think we can
make that resource much much larger.
What does the worldwide supply of cobalt look like and based on that,
how do you feel that you're gonna be able to move into a market that's going to provide great opportunity particularly for investors?
Cobalt is still a niche market
It's about 120 thousand
tons per annum
but we think there's an opportunity for us to
inject ourselves into this and offer a
secure and stable supply of cobalt moving forward and in good jurisdictions.
The price these days
versus the cost of production, were are we at?
Prices have
come down in cobalt, but historically I mean
we've had a huge ramp up in the spike in the cobalt price
into
2018. It's come down a little bit
I think a lot of that is because of the trade issues and and such with China and the U.S.
So there's some macro environment
circumstances that are in play but with our projects -- they are primary cobalt -- so really it's driven on the economics of the
of the cobalt price and
historically, cobalt has never been higher
So where do you think the sweet spot for cobalt is -- is it in 2020?
2022? How is that in relationship to your timeline?
The sweet spot for cobalt is right
now. Today is -- right now is the time to be in investing into cobalt and understanding this market and
understanding the criticality of that metal to the battery space
In addition to that, the fundamentals are just strengthening as the world adopts the
understanding of what this is -- an electric vehicle.
Pretty excited about this aren't you?
I am excited for sure.
We'll be watching. Thanks for this.
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