Investors continue to like Clean TeQ’s commercialization story with the company’s shares more than doubling in less than two weeks to an all time high of $1.045 in early March. The high was despite an interim loss announced in mid February of $8.1 million. Revenue fell to a modest $325,000 and there was a $6.4 million cost for employee expenses of which $4.7 million was share based payments.
Clean TeQ Holdings has released further information on the environmental benefits of scandium, a metal it will mine at Syerston in NSW if a feasibility study and a recovery and purification demonstration plant in Perth perform well.
The company has released the definitive feasibility study for the Sunrise project. The capital expenditure estimate has been increased by 90% on the scaling up of the refinery to allow for higher cobalt production.
Clean Teq suggested at its presentation to the Macquarie Conference that cobalt and nickel demand will rise on the back of a shift to higher density batteries, away from lithium, driven by the growing Chinese electric car market. The company has received positive feedback for its product.