Carabella Res Ltd Nsw CBLLF

Cobalt price

[lumpy13]

Wheaton and KBLT did the Vale Voisey Bay cobalt streaming deal when the cobalt price was at its peak.  Since then the price has dropped 60%, unfortunatley also reflected in KBLT's SP.   Medium/long term the cobalt price should rise - hopefully.  

The following was from the daily IKN email.

VANCOUVER, June 11, 2018 /CNW/ - Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that it has agreed to acquire from a subsidiary of Vale S.A. ("Vale") (NYSE:VALE) an amount of finished cobalt equal to a fixed percentage of cobalt production from the Voisey's Bay mine (the "Cobalt Stream"). Wheaton will pay Vale upfront cash consideration of US$390 million upon closing of the Cobalt Stream. In addition, Wheaton will make ongoing payments of 18% of the Metal Bulletin market price ("cobalt spot price") per cobalt pound delivered.