Bob Moriarty of 321 Gold discusses a company that has hit the ground running in Argentina’s lithium triangle.
Earlier this year someone sent me some information about a tiny Australian company listed on the AIM in London that was drilling for copper and gold in Ecuador. The company is called SolGold plc (SOLG:AIM) and I wrote about them in late March. Their price was 3.7 pence at the time.
On Monday October 31st, the shares hit 29.92 pence for an 800% gain in a seven-month period. The company wasn’t an advertiser then or now; actually they didn’t even bother answering an email I sent them asking some basic questions. They are AIM listed, which I hate, an Australian company, which I hate, and are utterly hopeless at communication. Their website looks like it was put together by a 12-year-old kid working on a school project.
But they had the goods and eventually in spite of all the negatives the market eventually got the story. I wrote about them even though I had little information and no interest other than I thought they were a screaming buy.
In the past year I’ve done a lot of research into solar power, wind power and batteries for storage. It’s a really interesting area because the economics are changing so rapidly. According to numbers coming from Tesla, the cost of one kWh of battery storage was $560 in 2008, will be $180 in 2017 and $100 in 2020 when the Gigafactory is completed. At $100 per kWh, battery storage is so cheap that solar and wind power begins to compete with coal and oil. That will be a game changer for the world economy.
As far as batteries are concerned, lithium remains the way to go and industry projections show a shortage going into …read more