The way I see it.
While the Co. price is kept low by those in control, new entrants are going to struggle to make a case for development finance, delaying more cobalt supply by a few years.
When the EV demand out strips supply in a couple of years, those with the goods can cash in on a prolonged price spike created by not enough supply to meet the demand.
CLA - Cobalt related news, page-2226
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