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Investor's Digest: Geovic
Publié le 14 août 2009
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Investor's Digest of Canada
July 10, 2009
Geovic Mining Advances African Megaproject
By Mike Kachanovsky
The market meltdown last year took a heavy toll on every asset class and especially the commodity sector. As metal prices slumped, additional pressure was put on the emerging producers and junior mining stocks. Now, in the aftermath of the steep correction, there are signs of a recovery for most of the metals, and it appears the time is at hand to sort through the bargains while many of the juniors remain near their lows.
One company worth consideration is Geovic Mining Corp. (GMC-TSX, $0.65). The stock was a stellar performer during the boom years, but has undergone a nasty downtrend and is currently hovering near multi-year lows. However, Geovic controls a majority interest in a very large, unique deposit with significant defined resources of cobalt, nickel and manganese.
Cobalt is a specialty metal produced largely as a byproduct of nickel and copper mining. It has become a critical component in increasing the strength and durability of various alloys in industrial fabrication and is consumer in high-tech consumer products, particularly the rechargeable batteries used in hybrid cars, laptops and cell phones. Until the 2008 economic contraction, global cobalt demand had risen at a growth rate of roughly eight percent over the past 15 years. The demand projections look very bullish.
Full Article
For more information please contact:
Andrew C. Hoffman, CFA
V.P. Investor Relations
Geovic Mining Corp.
Direct: 720.350.4130
Toll-free: 1.888.350.4130
ahoffman@geovic.net
Keith Schaefer
Vanguard Shareholder Solutions
Tel: 604.608.0824
Toll-free: 1.866.891.9756
www.vanguardsolutions.ca
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