In a letter to shareholders, Mitchell Smith, president and chief executive, said the firm started the new year with a promising line up of drill results from the Millennium cobalt project in Australia along with plenty of growth catalysts.
Among the firm's goals for 2018 are to buy additional high quality cobalt assets and initiate a partner-funded work program to advance the Werner Lake Cobalt project in Canada.
The group also wants to increase analyst and institutional coverage and begin district wide exploration, targeting and building on resources near to the existing Millennium Cobalt project.
"Strong fundamentals for the electric vehicle industry and energy storage sector should prove to further support continued demand for cobalt and further necessitate the need to create a safe and secure supply of cobalt as a key additive for battery technology," added Smith in the letter.
"This trend aligns closely with GEMC's corporate mandate of becoming a future supplier of cobalt material through our advancement of existing projects and the expectation to add new high quality assets."
Running through the highlights of last year, GEMC said that it had strengthened the team with the addition of Ian Spence as the company's Australian Acquisitions lead and New Tigers Consulting Ltd as its Chinese representative in advancing the company's cobalt material supply strategy.
The group also completed a resource report on its Canadian based Werner Lake cobalt project supporting high grade cobalt mineralisation and need for further investment into the project.
Notably, the firm ended the year with a 50% increase in the share price and had strong treasury having completed another oversubscribed private placing.
GEMC shares closed yesterday at C$0.24 each.