There are many ways to invest in commodities such as gold, oil, copper etc. One of the ways I invest in commodities is through the companies that mine the commodity .
In the past I have invested in companies related to gold and oil, and currently I hold a position in a Lithium mining company.
I came across a Cobalt company recommendation on BNN – Katanga Mining Limited. This was recommended by Michael Smedley, chief investment officer at Morgan Meighen & Associates.
I was fascinated with this company for two reasons :
- It is a Canadian company trading for $1. I like such companies for my RRSP as a long term hold.
- It is a play on the electric car market – Cobalt is a key element used in electric car batteries.
For now I am going to put this company on my watch list. I need to do a few things before I buy a position for my RRSP.
- Research on competitors and industry
- Review the companies financial statement
- Watch the stock price daily movement.
Good luck ! I will keep this thread updated as each of the above item completes.