Management is Excited about COBALTOn Dec. 22, 2020, the government of Canada and the government of Ontario announced a joint $10-million investment in the First Cobalt Corp. refinery in Cobalt, Ont. Once operational, this refinery will be North America's only producer of cobalt sulphate for the electric vehicle (EV) market. Cruz's Ontario properties are in the direct vicinity to First Cobalt Corp.'s cobalt refinery. According to Adamas Intelligence, during the month of November, 2020, lithium used in newly sold EVs (electric vehicles) jumped 134 per cent year over year, topping 10,000 tonnes for the first time. Deployment of cathode material cobalt doubled, while nickel use was up by 85 per cent compared with the same month in 2019. Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralization on the company's properties.
The high volume is due to older shareholders disposing of their investments, once this is over we will start seeing a serious move in the sp.