SAN DIEGO, CA - (NewMediaWire) - May 09, 2017 - SourcingLink.net (OTC PINK: SNET) is pleased to announced it has completed the purchase of an option for its first Cobalt claim in James Bay, Quebec, Canada. With the dwindling US reserves, and increasing global demand for Cobalt's use in batteries, the team at SourcingLink.net is very pleased to be adding this to its increasing mineral claim portfolio.
According to a report by the U.S. Geological Survey, Mineral Commodity Summaries the United States is listed the lowest in Cobalt reserves. Published in January 2017 https://minerals.usgs.gov/minerals/pubs/commodity/cobalt/mcs-2017-cobal.pdf
"As of April 24, the cobalt spot price was US$25.06, having risen from US$24.61 this time last month. The graph below gives the past 1 year performance of cobalt showing a very strong rise since January. This is mostly due to the cobalt market going into deficit as shown by the top Chinese cobalt producers who have recently halted or limited deliveries due to supply constraints." https://seekingalpha.com/article/4065247-cobalt-miner-news-april-2017
"With the recent US Geological Survey and citing a decrease in supply for US Cobalt reserves, and the tech market creating an increase in demand, I feel our inclusion of Cobalt is well timed and puts us in an exciting position, especially with our upcoming exploration," said Anne Carioti, CEO of SourcingLink.net.
About SourcingLink.net, Inc.
SourcingLink.net is a U.S. based publicly traded exploration and development company. Their focus is on rare metals and rare earth elements, which are among the primary input materials for the 21st Century technology.
About The Lac Fire Project:
SourcingLink.net, Inc. acquired 8 new lithium-tantalum claims in James Bay, Quebec, Canada. The block of 8 new claims share a 12 km boundary, which is on three sides with the Rose Lithium Tantalum Property of Critical Elements Corp. The new Lac Fire property was staked to strategically cover ground that may be on strike and have similar geology to the Rose Lithium Tantalum Resource.
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which contain words such as "expect," "believe" or "plan," by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements. The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Copyright © 2017 Marketwired. All Rights Reserved.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.