Cruz Cobalt Corp Sponsors Video "What's Behind the Global Demand for Cobalt?" - Video Hosted on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - November 10, 2017) - Cruz Cobalt Corp (TSXV: CUZ) (FSE: BR02) (OTC Pink: BKTPF) has sponsored an educational video, which gives a brief overview of cobalt. The video discusses the current and future supply of, and demand for cobalt.
This video can be viewed at InvestmentPitch.com. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Cruz Cobalt" in the search box.
Cannot view this video?Visit:
http://www.investmentpitch.com/video/0_1pkqpo2u/Whats-Behind-the-Global-Demand-for-Cobalt
Canaccord Genuity is forecasting a continuing cobalt deficit, reaching 12,000 tonnes per annum by 2025. They've also increased their forecast for cobalt to US$34.61 per pound, an increase of 25% over the current US$28 price.
The price of cobalt has already seen a dramatic increase over the last couple of years, from US$10 to the current price of US$28. This demand, was driven in a large part, by Tesla Motors' announcement of plans to build up to 500,000 electric vehicles per year. This is just the beginning as Bloomberg predicts that by 2022, battery demand by the electric vehicle industry will surpass consumer applications.
Cruz currently has nine cobalt projects located throughout North America, comprising of four in Ontario, three in British Columbia, one in Idaho and one in Montana. Cruz's four separate Ontario cobalt prospects are all located in the vicinity of the town of Cobalt making Cruz one of the largest landholders in this emerging cobalt district. Cruz's Ontario projects include the 1,265 acre Coleman cobalt prospect, the 900 acre Johnson cobalt prospect, the 4,980 acre Hector cobalt prospect and the 1,580 acre Bucke cobalt prospect. The company's 4,935 acre War Eagle cobalt prospect in British Columbia covers a past-producing mine. Cruz's USA projects include the 1,940 acre Chicken Hawk prospect in Montana and the 880 acre Idaho Star prospect.
Cruz Cobalt Corp. is planning to commence operations shortly on the War Eagle Cobalt Prospect in British Columbia.
Cruz President, James Nelson, stated: "We look forward to starting up operations in BC. Cruz is active on multiple cobalt fronts in Ontario, Idaho, Montana and BC. Cobalt prices continue to be trading near nine years highs and the global focus on EV and battery metals is strengthening, as more car companies and countries move to Electric Cars. Cruz is well positioned to capitalize on this global trend as all of the cobalt prospects are in geopolitically safe jurisdictions."
For more information, please visit CruzCobalt's website, www.cruzcobaltcorp.com, contact James Nelson, President, at 604-899-9150 or email info@cruzcobaltcorp.com.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com