While the employees are retrenched

Toronto based Cobalt 27 Capital Corp., which billed itself as an investment in the electric vehicle revolution, is facing outcries from some of its largest shareholders as it tries to sell its most valuable assets during a market low point.The company roared into the market in mid 2017 with an initial public offering, ultimately raising hundreds of millions of dollars to stockpile and acquire royalties on cobalt, an essential metal used in lithium ion batteries. Within about a year the price of cobalt had hit a five year peak, only to crash in the latter half of 2018 and never fully recover.Now the company wants to steer its investors into nickel and to sell its main cobalt assets to its largest shareholder, Pala Investments. Other shareholders would receive $3.57 in cash, plus equity in Nickel 28, a new company that would hold the remaining assets including a stake in a nickel mine in Papua New Guinea.Glencore tries to limit fallout from shutting the world’s largest cobalt mine in Congo’The future is nickel’: Cobalt 27 sells off its namesake metal after tough yearUnfazed by market drubbing, Cobalt 27 continues dealmaking spreeBut with just days left for investors to vote on the deal, several shareholders raised protests that the sale came just as cobalt prices bottomed out, about the executive compensation included in the deal and other issues.do not want to sell an asset today knowing in two years it will be worth more, said, an investment manager at the Paris based mutual fund Amiral Gestion, adding his firm owns around three per cent of the shares.Guicherd said his firm voted no because it invested with a two to five year time horizon, knowing electric vehicle adoption could take awhile.

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Cosatu regional co ordinator Zima Giyama said it was concerning that employees were always the chopping block when companies face profit loss. Are profits being protected at the expense of the employees? No one says anything about the benefits of the executives. While the employees are retrenched, the captains of the industry continue racking up millions.

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Nicki Minaj has revealed she is retiring from music (Image: Getty)Get the biggest daily stories by emailSubscribe We will use your email address only for the purpose of sending you newsletters. Please see ourPrivacy Noticefor details cheap nfl jerseys near me of your data protection rightsThank you for subscribingWe have more newslettersShow meSee our privacy noticeCould not subscribe, try again laterInvalid EmailSuperstar Nicki Minaj has announced to her fans she is going into retirement.The 36 year old rapper took to Twitter to reveal the news, leaving fans heartbroken.She told her 20.5million followers Twitter followers: “I decided to retire and have my family. I know you guys are happy now.”To my fans, keep reppin me, do it da death of me, in the box cuz ain nobody checkin me.”Love you for life.”The announcement sparked shock from her loyal fan base who asked the songstress to reconsider.One fan wrote : “I’m about to cry at work!”Another said: “Nicki you can’t do this to cheap jerseys store near me me!”The news comes after the singer recently revealed plans to marry her boyfriend Kenneth Petty.Like us on FacebookFollow us on TwitterEast KilbrideHorror gunshot wounds inflicted on dad of two and pal as masked gunmen blasted pair in East Kilbride shootingScott Davis, 30, suffered leg injuries and John Whalin suffered facial injuries in the targeted attack which police are treating as attempted murder.PoliceShocking moment thug drags OAP to ground and breaks her arm after grabbing bagCCTV footage of the horrific attack was released by cops in a bid to identify the heartless mugger.InvernessPensioner in the dock over murder of Renee McRae and toddler son in 43 year cold caseWilliam MacDowell was in the dock at Inverness Sheriff Court hours after being arrested.UK WorldWhat a state! Walk through the mess left behind by the filthy tenantSectarianismOrange Lodge slam parade ban claiming Scots Protestants are “under attack”Senior members of the Grand Orange Lodge of Scotland claim Glasgow City Council’s move to ban six parades is illegal.Airdrie NewsMan who died in A73 car smash near Newhouse roundabout named by policeConnor O’Neill, 24, was a passenger in a red Vauxhall Astra when it collided with a blue Toyota Auris on August 31.Police ScotlandPolice ‘could have prevented’ vicious attack on homeless man who refused to take part in rapeThe police did not send any officers despite the victim calling 999 for help.West Dunbartonshire NewsAccident closes lanes on A82 near Luss drivers warnedThe multi vehicle incident occurred at around 11:30am this morning.Loch LomondExperts are scrutinising circumstances of fatal Cameron House fire, says top lawmanThe Lord Advocate could not give any indication of when a decision will be reached.

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