Cobalt generator Cruz Capital (CUZ.V) expands historical Ontario project holding

blue

Canadian cobalt project supermarket Cruz Capital (CUZ.V) issued news today and the market reacted well, with strong volume and an upward move.

The company increased their Hector cobalt property holdings by 137 claim units to approximately 5,500 contiguous acres. The Hector is one of four cobalt prospects in Ontario currently held by Cruz and is a past producer.

According to an Ontario mineral file, the property was mined for cobalt previously and has multiple other cobalt showings.

Cruz has quickly developed a reputation as a (or, rather, ‘the’) cobalt project generator, with eight properties on display in its trophy case.

Last week, Cruz employed a 3-for-1 forward stock split, an unusual strategy for a stock in the $0.60-$0.70 range, but also a strategy that, thus far, has worked nicely. The price is rising nicely to $0.24 (A $0.72 pre-split level) and the trading volume has increased.

The time to be watching the stock intently will be Christmas time, when a few million dollars of private placement financing stock (at a post-split level of $0.10) come free trading. If Cruz can keep the news coming, and blunt any profit-taking (of which there’s likely to be a fair amount), it will have done very well.

Alternately, there might be a post-churn buying opportunity on any dip.

Either way, cobalt continues to be ‘what’s next’, and enjoy the swell being created by those who are beckoning a second lithium wave.

— Chris Parry

FULL DISCLOSURE: Cruz Capital is an Equity.Guru marketing client

Leave a Reply

Be the First to Comment!

Notify of
avatar

wpDiscuz