Scientific Metals (TSX-V:STM) is one of the most exciting North American energy metal explorers out there right now. STM’s Iron Creek cobalt Project in Idaho is potentially the most promising exploration stage cobalt project in North America and STM recently added an additional 500 acres as a southern extension to Iron Creek, which now totals 1800 acres.
STM CEO Wayne Tisdale offered the following comments on the addition of 500 acres to the Iron Creek land package:
“We are thrilled to have acquired the southern extension to our flagship Iron Creek project. With our recently completed financing the Company is now funded for our 2017 exploration program at Iron Creek. We feel it’s important to have secured this strategic southern tie on ground. With cobalt hitting 7 year highs and many positive catalysts for this strategic EV metal we feel the time is right to explore for a home grown source of safe and ethical cobalt.”
The price of cobalt has surged nearly 150% in the last year and there is currently only one producing cobalt mine in the United States which makes STM especially interesting from an investment standpoint.
After surging nearly 300% to begin 2017 STM shares retraced roughly 1/2 of its gains:
After reaching a low of C$.44 a couple of weeks ago STM shares have seen a steady accumulation. In addition STM’s Relative Strength Index held above the median line during the correction and is currently near the 60 ‘sweet spot’ area pointing higher. The next leg of the rally could target C$1.00+.
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