RE:RE:RE:CPO could get interestingNice lift in Cobalt prices today after the news on Katanga Mining's subsidary (KAT, massive cobalt mine in the Congo) suspending Cobalt sales after they discovered Uranium (health, safety risk) in their produced cobalt. This will take them 2-3 quarters to resolve as they construct some Ion Exchange tech system that extracts the uranium out of their cobalt. i.e. this could be a decent tailwind for cobalt prices and alternative cobalt miners (less global supply = higher prices).
Volatility in stock prices comes with the territory on speculative buys like CPO. I hate to be negative on any stock I buy into but this one has red flags that keep me from putting any new money into it. CPO price can barely stay flat at $0.035 despite today's big sector lift. There appears to be one persistent seller over the last several weeks accounting for most of the stock volume, broker = "anonymous". Possibly akin to an insider who's willing to sell at any price on a daily basis just to clear out of their initial excessive share allotment? Could be some hearvy tax loss selling going on as well. Otherwise there's not many other reasons to sell a company already in the dirt at $0.03 , with ~5MM market cap, and with no fundementally negative news (aside from no news at all and no current CEO). There appears to be a few pump and dumpers on the name too. No offense inkedtj but just posting "don't worry, big news coming" with no information at all automatically puts you in that category.
Anyways, all a bit of a rant on my part. I see nothing on CPO recently to give me enough conviction to add new money is my main point. At this stage I would sooner buy its bigger neighbour KCC for essentially the exact same Cobalt play with much less risk. Otherwise I'll relax and at least try to be more optimistic about the modest shares I own on CPO going forward. Cheers