RE:Report
nt'l Speculator says buy eCobalt Solutions
2019-05-13 20:49 ET - In the News
The International Speculator, in its April 25, 2019, issue, says buy eCobalt Solutions Inc. at 30.5 cents, officially and rather optimistically, "Continue to buy up to $1.80." The newsletter said buy three times between July 19, 2017, and Sept. 21, 2018, at prices ranging from 85 cents to $1.37. Assuming an investment of $1,000 for each of the three buys, the $3,000 holding is worth $817. The writer notes that on April 1, eCobalt announced plans to merge with Australian cobalt and nickel developer Jervois Mining Ltd. If the transaction proceeds, the new company will hold exceptional cobalt assets in the United States, Australia and East Africa. While the takeover does not carry a premium to market price, it will give shareholders exposure to a strong combination of projects under one roof. The writer says believes that the company's diversification is a good strategy and will position the resulting company to attract attention when cobalt price recover. The completion of the merger is expected in the third quarter of 2019.
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source: stockwatch