I'm long GLCNF/GLEN here. I like the outlook for Cobalt, as the EV race intensifies. Supply of this metal is constrained, and as demand surges, prices will follow, intensely. With some luck, I'm correctly calling the bottom of this pullback, which gives us a low risk to join this trend. I'm already positioned from lower levels in VALE, and also in BHP, and GLEN was the missing piece for my portfolio that gravitates around this and other themes currently.
Best of luck if joining me here, Cheers.
Ivan Labrie.
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On track, had a bit more downside, but now ready to rip.
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Stop set at break even...we can now take additional trades from lower timeframes whilst holding the core long term position.
The question of Ethics in investing has never been more astute!! But we all must hold in our hands some metal or other mined by GLEN or friend. It's a funny old world!
IvanLabrie
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@RJHumphries, indeed!
I am aware of the ethics part, but well, hard to truly invest ethically...I don't eat meat or any non-organic/cruelty-free products as much as possible and try to be as eco-friendly as I can though, but everything has its limits.
The idea is to ride the EV adoption trend here, since GLEN mines 23% of the world's cobalt!
JRFreeze
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@IvanLabrie, I hear you. It's very hard to keep on the good side of history. I also don't eat much meat and try and keep my personal footprint low. But the world still turns. And EV are surely good for that. So it's all a balance in the end...
telegraph.co.uk/business/2017/07/17/glencore-mulls-spin-off-company-snap-mining-royalties/
proactiveinvestors.co.uk/companies/amp/news/184506
But then some really bad news about GLEN themselves...
newint.org/features/web-exclusive/2013/12/04/glencore-xstrata-worst-corporation-award
The question of Ethics in investing has never been more astute!! But we all must hold in our hands some metal or other mined by GLEN or friend. It's a funny old world!