Northern Cobalt (N27.ASX) +116% - can maiden drill program deliver?

Wentworth Securities

Since our last note on N27, the stock has run up to a high of $0.65 (+165%). At the time we thought it stood out as cheap amongst peers, given an existing JORC resource (admittedly small), but good grades for Co (ave 0.17%), and the right location in Aust. Since then, they are well and truly humming along in their first drill campaign in the NT, prior to the wet hitting. And given the market cap is now $21m (fully diluted), it was time to look at it compared to peers, and consider what they might hope to achieve, bringing resource in under JOC 2012 code. You can read our last wire here: (VIEW LINK)


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Wentworth Securities

Wentworth Securities

, Wentworth Securities

Wentworth was formed in early 2012 with the goal of providing clients with a client-focused, holistic and transparent approach to investing. We focus on macroeconomic drivers as the primary source of performance. We deliver tailored, actively...

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cobalt Northern Cobalt ASX.N27 peer comparison

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