Hot Charts: Scientific Metals
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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EnergyandGold has been paid to cover Scientific Metals and so some information may be biased. EnergyandGold.com, EnergyandGold Publishing LTD, its writers and principals are not registered investment advisors and advice you to do your own due diligence with a licensed investment advisor prior to making any investment decisions.
This article contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, standard transaction risks; impact of the transaction on the parties; and risks relating to financings; regulatory approvals; foreign country operations and volatile share prices. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the EnergyandGold website do not necessarily reflect the views of Energy and Gold Publishing LTD, publisher of EnergyandGold.com. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.