I recently wrote about Caledonia Mining and it's Nama Cobalt Property. By my calculations, I determined that the value of the Nama deposit alone was worth over $6 billion U.S. I also noted that Caledonia had many other properties that would take the value of CALVF well over the $6 Billion mark.
Today, Caledonia released news that they had signed a Cobalt Off-take Agreement with Large Chinese Refiner.
The stock has responded quite favorably and as I write this, it is up over 60% in price. It closed yesterday at $0.103 per share and has traded as high as $0.20 per share, a 100% gain in 1 day.
I previously mentioned that "It has had two massive run ups in share price. In 1986 it rose from under $1 to over $7 in just over 1 year. Then in 1994 it rose from under $1 to over $9 in less than 1 year.
Now, as a shareholder of CALVF, I wonder how high it will run on this latest development with it's Nama Cobalt Property.
As I close out this post, I note that Caledonia Mining Corporation (CALVF) is trading at $0.177 per share. This is a one day rise in price of over 71%.
