Each week our High Voltage column wraps all the news driving ASX battery metals stocks with exposure to lithium, cobalt, graphite, manganese and vanadium.

INDUSTRY FOCUS

Morgan Stanley copped criticism when it predicted that an avalanche of lithium supply would decimate prices back in February 2018.

Macquarie got similar treatment when it forecast a “tsunami of oversupply” in a note titled Lithium: Welcome to Thunderdome.

But here we are, as prophesied, with prices now at multi-year lows.

WA spodumene producers are hurting as prices fall from over $US1000 ($1476) a tonne to well under $US600 a tonne.

Over the past 12 months, Pilbara Minerals (ASX:PLS) is down 48 per cent, Altura Mining (ASX:AJM) 67 per cent, Galaxy Resources (ASX:GXY) 48 per cent, and Alita Resources (ASX:A40) 75 per cent.

Alita is looking particularly shaky right now, and some are predicting it may become the first major casualty of a weakening market.

But here’s the thing; while prices for lithium and cobalt products have continued to fall, “long term demand projections haven’t budged and are still very much intact”, writes lithium expert Chris Berry.

This is a sector-wide paradox that has only become more glaring over the past 12 months, he says.

Industry-specific factors are important, he says, but it’s clear that a convergence of macro “economic and geopolitical factors” — trade wars, Brexit, colossal debt piles — are spooking investors and delaying capital spending by companies.

These decisions certainly mean delays ramping up to meet that consensus 1 million tonnes a year of lithium carbonate equivalent (LCE) demand by 2025.

And let’s be clear; 1mtpa is still the consensus (sans Morgan Stanley, which is predicting 750,000tpa).

Albemarle recently confirmed as much, even as it put the kibosh on 125,000tpa of previously announced conversion capacity.

“The industry is clearly starved for capital and while it’s true that assets can get cheaper, the requirement for funding to electrify transport is needed now – not in 2025 or beyond,” Berry says.

“Any significant delay in capital allocation here almost assures a delay in more widespread EV uptake.”

 

SMALL CAP SPOTLIGHT

It was clearly a rough week for most stocks, and battery metals didn’t escape the bloodbath:

Ouch.

Here’s a table of ASX battery metal stocks with exposure to lithium, cobalt, graphite, manganese and vanadium>>>

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:

Code Name Price [Monday intraday] Market Cap 1 Year Return % 1 Week Return %
GPP GREENPOWER ENERGY 0.002 $4,004,490.50 -60 100
MTB MOUNT BURGESS MINING 0.003 $1,560,388.13 -57 50
NWC NEW WORLD COBALT 0.027 $18,530,974.00 -41 41
THR THOR MINING 0.013 $12,324,703.00 -53 36
NVA NOVA MINERALS 0.046 $37,905,900.00 86 24
CUL CULLEN RESOURCES 0.015 $2,541,972.50 -52 15
CNJ CONICO 0.012 $4,612,778.50 -55 9
EUC EUROPEAN COBALT 0.027 $20,565,828.00 -45 8
GME GME RESOURCES 0.06 $30,374,576.00 -40 7
LCD LATITUDE CONSOLIDATED 0.016 $4,402,864.00 -41 7
BOA BOADICEA RESOURCES 0.175 $9,247,905.00 46 6
MTC METALSTECH 0.02 $2,222,123.75 -81 6
PGM PLATINA RESOURCES 0.046 $11,621,554.00 -54 5
BAR BARRA RESOURCES 0.021 $11,855,596.00 -39 5
AVZ AVZ MINERALS 0.051 $117,511,568.00 -46 2
DGR DGR GLOBAL 0.093 $57,639,096.00 6 1
GBE GLOBE METALS AND MINING 0.016 $7,454,758.00 23 0
NZC NZURI COPPER 0.325 $96,169,288.00 44 0
HGM HIGH GRADE METALS 0.008 $3,623,503.00 -78 0
CGM COUGAR METALS 0.001 $1,176,583.25 -80 0
RIE RIEDEL RESOURCES 0.012 $5,016,836.50 -67 0
AYR ALLOY RESOURCES 0.002 $3,386,555.25 -67 0
DHR DARK HORSE RESOURCES 0.004 $8,098,486.50 -64 0
SI6 SIX SIGMA METALS 0.004 $3,121,890.75 -44 0
POW PROTEAN ENERGY 0.007 $2,180,060.75 -75 0
SYA SAYONA MINING 0.008 $15,503,169.00 -73 0
LRS LATIN RESOURCES 0.001 $3,892,466.50 -80 0
WCN WHITE CLIFF MINERALS 0.004 $1,881,399.50 -92 0
DTM DART MINING 0.005 $5,086,880.50 -38 0
LTR LIONTOWN RESOURCES 0.11 $184,532,544.00 311 0
CZR COZIRON RESOURCES 0.01 $20,830,512.00 -33 0
MNS MAGNIS ENERGY TECHNOLOGIES 0.17 $106,948,800.00 -52 0
VRC VOLT RESOURCES 0.016 $23,621,182.00 -11 0
MZN MARINDI METALS 0.001 $2,248,371.00 -87 0
PAN PANORAMIC RESOURCES 0.38 $204,825,520.00 -19 0
CHN CHALICE GOLD MINES 0.18 $50,702,604.00 64 0
BDI BLINA MINERALS 0.001 $4,593,882.50 -50 0
MLM METALLICA MINERALS 0.015 $4,860,711.00 -58 0
KNL KIBARAN RESOURCES 0.12 $35,114,516.00 -23 0
AVL AUSTRALIAN VANADIUM 0.014 $27,633,814.00 -76 0
ANW AUS TIN MINING 0.007 $15,509,807.00 -53 0
MRR MINREX RESOURCES 0.01 $958,777.25 -69 0
PSM PENINSULA MINES 0.003 $3,038,616.25 -63 0
PSC PROSPECT RESOURCES 0.16 $37,752,280.00 -41 0
PM1 PURE MINERALS 0.016 $6,953,581.00 14 0
AZI ALTA ZINC 0.003 $5,464,903.00 -45 0
ADV ARDIDEN 0.003 $5,071,560.50 -73 0
FEL FE 0.018 $7,312,559.00 -33 0
MLS METALS AUSTRALIA 0.0025 $5,854,395.50 -50 0
PNN PEPINNINI LITHIUM 0.0025 $3,714,035.25 -74 0
MTH MITHRIL RESOURCES 0.005 $2,111,946.00 -55 0
PIO PIONEER RESOURCES 0.015 $24,140,140.00 -16 0
KSN KINGSTON RESOURCES 0.019 $29,889,408.00 -13 0
LIT LITHIUM AUSTRALIA 0.049 $26,120,106.00 -50 0
ARE ARGONAUT RESOURCES 0.006 $9,326,284.00 -76 0
KOR KORAB RESOURCES 0.025 $7,929,987.00 -7 0
CRL COMET RESOURCES 0.028 $8,047,500.00 -24 0
RMX RED MOUNTAIN MINING 0.005 $4,668,220.50 -14 0
VR8 VANADIUM RESOURCES 0.068 $24,644,802.00 -59 0
TKL TRAKA RESOURCES 0.01 $3,704,629.50 -69 0
MQR MARQUEE RESOURCES 0.1 $4,353,510.00 -44 0
BYH BRYAH RESOURCES 0.074 $4,720,497.50 -43 0
KDR KIDMAN RESOURCES 1.89 $765,067,072.00 59 0
HXG HEXAGON RESOURCES 0.085 $24,801,588.00 -45 -1
DEV DEVEX RESOURCES 0.075 $9,978,793.00 4 -1
TON TRITON MINERALS 0.044 $40,794,080.00 -19 -2
CXO CORE LITHIUM 0.04 $31,531,266.00 -23 -2
E25 ELEMENT 25 0.19 $17,462,382.00 3 -3
JMS JUPITER MINES 0.3775 $724,826,688.00 30 -3
CLQ CLEAN TEQ 0.375 $272,457,984.00 -41 -3
BEM BLACKEARTH MINERALS 0.071 $6,080,401.00 -45 -3
PLS PILBARA MINERALS 0.455 $851,653,376.00 -47 -3
SEI SPECIALITY METALS INTERNATIONAL 0.029 $28,499,160.00 66 -3
LPI LITHIUM POWER INTERNATIONAL 0.4 $111,568,408.00 52 -3
ZNC ZENITH MINERALS 0.075 $15,957,160.00 -52 -4
GED GOLDEN DEEPS 0.025 $5,302,019.50 -14 -4
SUH SOUTHERN HEMISPHERE MINING 0.025 $2,211,736.75 -59 -4
CAZ CAZALY RESOURCES 0.025 $7,196,554.00 -32 -4
NXE NEW ENERGY MINERALS 0.024 $3,669,490.50 -82 -4
AJM ALTURA MINING 0.093 $223,244,400.00 -65 -4
AUZ AUSTRALIAN MINES 0.024 $82,673,816.00 -65 -4
COB COBALT BLUE 0.125 $17,988,302.00 -78 -4
INF INFINITY LITHIUM 0.067 $14,100,607.00 3 -4
LPD LEPIDICO 0.025 $96,770,704.00 -14 -4
TNG TNG 0.089 $98,959,968.00 -32 -4
KTA KRAKATOA RESOURCES 0.022 $2,970,000.00 -29 -4
SVM SOVEREIGN METALS 0.105 $39,520,104.00 57 -4
MIN MINERAL RESOURCES 13.565 $2,533,687,808.00 -2 -4
POS POSEIDON NICKEL 0.042 $110,993,480.00 -25 -5
BUX BUXTON RESOURCES 0.1 $13,605,543.00 -46 -5
JRV JERVOIS MINING 0.205 $126,442,704.00 -29 -5
MEI METEORIC RESOURCES 0.039 $34,671,128.00 34 -5
4CE FORCE COMMODITIES 0.02 $9,426,940.00 -50 -5
GPX GRAPHEX MINING 0.19 $19,122,590.00 -10 -5
CLA CELSIUS RESOURCES 0.019 $13,629,925.00 -84 -5
WML WOOMERA MINING 0.025 $4,083,356.50 -67 -5
ASN ANSON RESOURCES 0.037 $19,248,662.00 -68 -5
WKT WALKABOUT RESOURCES 0.255 $82,381,736.00 79 -5
KAI KAIROS MINERALS 0.019 $14,488,638.00 -50 -6
INR IONEER 0.165 $243,372,272.00 -40 -6
GLN GALAN LITHIUM 0.16 $22,256,822.00 -39 -6
RNU RENASCOR RESOURCES 0.015 $18,454,790.00 -20 -6
AGY ARGOSY MINERALS 0.094 $95,363,200.00 -66 -6
MZZ MATADOR MINING 0.3 $29,581,250.00 3 -6
SO4 SALT LAKE POTASH 0.755 $191,990,240.00 67 -6
LKE LAKE RESOURCES 0.0575 $27,737,802.00 -36 -6
HRZ HORIZON MINERALS 0.145 $62,056,404.00 -12 -6
AMD ARROW MINERALS 0.014 $5,201,568.50 -30 -7
HAV HAVILAH RESOURCES 0.14 $30,554,868.00 -32 -7
N27 NORTHERN COBALT 0.027 $1,782,264.75 -81 -7
AML AEON METALS 0.16 $102,643,136.00 -52 -8
NMT NEOMETALS 0.18 $97,998,880.00 -34 -8
FGR FIRST GRAPHENE 0.24 $102,062,760.00 34 -9
IDA INDIANA RESOURCES 0.021 $3,108,308.50 -59 -9
BPL BROKEN HILL PROSPECTING 0.031 $4,584,385.50 -56 -9
VML VITAL METALS 0.01 $17,426,112.00 25 -9
CHK COHIBA MINERALS 0.012 $6,646,142.50 43 -9
IEC INTRA ENERGY 0.01 $3,877,240.25 -33 -9
TLG TALGA RESOURCES 0.42 $94,416,488.00 -1 -10
ARL ARDEA RESOURCES 0.5 $55,330,928.00 -34 -10
AEE AURA ENERGY 0.01 $11,223,708.00 -55 -10
BKT BLACK ROCK MINING 0.071 $42,159,660.00 89 -10
HNR HANNANS 0.01 $17,891,590.00 -47 -10
SYR SYRAH RESOURCES 0.7175 $291,428,960.00 -70 -10
PLL PIEDMONT LITHIUM 0.13 $105,999,448.00 -21 -10
PUR PURSUIT MINERALS 0.009 $1,893,734.75 -91 -11
BSM BASS METALS 0.009 $22,478,996.00 -65 -11
JRL JINDALEE RESOURCES 0.34 $11,912,221.00 24 -12
TMT TECHNOLOGY METALS AUSTRALIA 0.185 $16,197,521.00 -71 -12
MLL MALI LITHIUM 0.105 $29,096,112.00 -67 -12
AXE ARCHER EXPLORATION 0.12 $21,680,096.00 25 -12
MCT METALICITY 0.007 $4,370,957.50 -59 -13
HIP HIPO RESOURCES 0.007 $2,705,573.25 -63 -13
BSX BLACKSTONE MINERALS 0.11 $16,095,477.00 -26 -13
OMH OM HOLDINGS 0.62 $465,332,704.00 -51 -13
GXY GALAXY RESOURCES 1.16 $460,510,144.00 -60 -13
HWK HAWKSTONE MINING 0.013 $8,974,134.00 -62 -13
SRK STRIKE RESOURCES 0.052 $8,690,982.00 -4 -13
LML LINCOLN MINERALS 0.006 $3,449,902.00 -77 -14
SBR SABRE RESOURCES 0.006 $2,852,302.00 -54 -14
ORE OROCOBRE 2.51 $625,410,624.00 -42 -15
BAT BATTERY MINERALS 0.011 $14,499,007.00 -63 -15
VMC VENUS METALS 0.215 $25,634,742.00 61 -17
SVD SCANDIVANADIUM 0.009 $3,166,795.00 -64 -18
RLC REEDY LAGOON 0.004 $1,609,086.88 -67 -20
TAR TARUGA MINERALS 0.024 $3,388,013.75 -82 -20
CFE CAPE LAMBERT RESOURCES 0.007 $7,210,069.00 -71 -22
EMH EUROPEAN METALS 0.31 $44,725,880.00 -20 -23
LI3 LITHIUM CONSOLIDATED 0.052 $4,951,911.50 -58 -25
SRN SUREFIRE RESOURCES 0.0065 $3,018,921.75 -45 -25
CZN CORAZON MINING 0.002 $3,261,377.25 -78 -33