While it has been a tough market
chief executive Erin Chutter has reiterated the company's commitment to its strategy of becoming a consolidator in the cobalt market.
In a video interview by Investing News Network, Chutter explains that while it has been a tough market, the company's focus is on its core strategic imperative of becoming a consolidator.
She highlights that the company has been able to focus on development funding at the project level, not just at the corporate level, to minimize shareholder dilution while rebuilding value.
Global Cobalt is focused on developing its advanced-stage Karakul cobalt project in Russia, but recently expanded its horizons by acquiring the Iron Creek cobalt property in Idaho, giving it a foothold in the famed Idaho Cobalt Belt.
The chief executive says the move was borne partly from a response to concerns of shareholders, who were worried about the company's significant Russian exposure. As a result, it has reached out to bring in new projects, while continuing to maintain Karakul.
Because cobalt prices have been jumping over the last 18 months amid a big push on the demand side, mainly driven by the battery space, Global Cobalt has been able to seek domestic projects in both Canada and the US.