- High-Tech Metals is an exploration and development mining company exploring its underexplored cobalt asset in Canada.
- The company is a well-structured entity from a capital perspective, with the right management team in place to realize the potential of its assets.
- The Werner Lake Cobalt Project has seen some historical exploration and production but has not been explored with modern exploration techniques and technologies, creating upside potential for additional discoveries.
- Renowned geologist Toby Hughes leads the exploration team.
- Cobalt is currently used throughout a wide range of applications, and the growth of renewable technologies will continually drive up demand for the metal.
- The Werner Lake project is located on the Ontario-Manitoba border in a prolific mining district with an existing road network to facilitate future transportation.
- The company’s asset has a current JORC-compliant resource estimate of 720,000 lbs of ore at 0.52 percent cobalt.
- An experienced management team leads the company towards fully exploring its cobalt asset.
High-Tech Metals Limited (ASX:HTM) is an exploration and development mining company focusing on its Canadian cobalt asset in the Kenora Mining District. The company’s Werner Lake project has received no previous modern exploration, creating blue-sky potential as High-Tech leverages new technologies and techniques. Additionally, High-Tech Metals is a well-structured entity from a capital perspective, with a highly experienced team of experts leading the company towards its goals. Toby Hughes was appointed to lead the exploration team and improve the value of the Werner Lake project.Cobalt is widely used in various applications due to its unique high-temperature and magnetic properties. Historically, cobalt has been used in jet turbines, electroplating and alloyed with nickel to make powerful magnets. Now, cobalt demand is skyrocketing as electric vehicles (EVs) increasingly take a big chunk of the market. EVs are projected to consume 320 kilotons of cobalt by 2030, about 84 percent of the total cobalt demand.