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

>> Scroll down for a table showing the recent performance of 200 ASX battery metal stocks

After a steady October, cobalt spot prices fell sharply in early November, from about $US60,000/t to $US44,500/t.

Lithium spot prices have steadied. The market has become a little more bullish in response, with a number of producers seeing decent share price gains over the last week.

Graphite prices continue to strengthen, and manganese prices are recovering strongly after a sharp correction in April and May.

And Chinese vanadium spot prices keep posting big gains, reaching all-time highs of $US37 per pound last week. Incredible.

Vanadium Price

There appears to be a lot more confidence floating around the small cap space this week. Of the 200 battery metals stocks on our list, about 67 lost ground, 77 were ahead and 53 were steady.

One of the biggest winners this week was cobalt-nickel-scandium explorer Australian Mines (ASX:AUZ).

Australian Mines may have turned the corner on a year of share price declines — posting a 61 per cent gain to 5.5c — when it announced its second major research partnership into using scandium in next-gen batteries, as well as some excellent drilling results at its flagship Sconi project.

Other small cap winners included Lake Resources (ASX:LKE), Lithium Consolidated (ASX:LI3), AVZ Minerals (ASX:AVZ), and GWR Group (ASX:GWR).

The biggest loser was King River Copper (ASX:KRC), which was punished for an underwhelming scoping study on it’s Speewah vanadium project.

King River’s share price, which dropped about 36 per cent to 3.5c, is still up 400 per cent for the year.

Scroll down for the full list >>

Industry Focus

The continuous decline in the value of lithium and cobalt stocks over the course of 2018 has made it harder for juniors to raise cash, says Eddie Sugar, a partner with New York-based corporate advisory firm EAS Advisors.

Part of the problem is investors looking for the “next run” rather than focusing on the long-term story, Mr Sugar told delegates at the International Mining and Resources Conference in Melbourne this week.

“People ask me if I think the lithium and cobalt [run] is over,” he says.

Mr Sugar says he doesn’t look at the run  — he keeps his eye on a commodity’s long term prospects.

“But the marketplace does — and so it’s harder to find people to invest in lithium and cobalt today.”

But there’s also talk of juniors miners and explorers getting swallowed by larger players in lucrative deals, as M&A activity in the battery metals space picks up.

Dominic Marinelli, a director of Terrain Capital which works on deals with partner Globalscope International M&A Advisors, said there was a lot of companies “exploring in that area at the minute, and I expect there will be more M&A”.

Mining magnate Tony Sage. Pic: Tonysage.com.au

Mining entrepreneur Tony Sage (above) believes China is manipulating the price of lithium and cobalt, like it did with iron ore before the steel-making commodity hit record highs.

But Mr Sage says the spot price – which is a measure of the health of the market – is not reflective of what lithium and cobalt producers are actually selling their product for.

“If I go now and sell my future production in cobalt I’ll get 30 per cent more than the spot price,” he says.

Mr Sage said if one of his companies, Cape Lambert Resources (ASX:CFE), were to do a cobalt deal it would ask for a premium to the spot price.

“We won’t be asking for $US65,000 a tonne — we’ll be asking for $US75,000 or $US80,000 for a long-term sale,” he said.

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

ASX code Company Focus One-week price change 12-month price change Price Nov 5 (intraday) Market Cap
LKE LAKE RESOURCES lithium 0.666666666667 -0.305555555556 0.125 37.8M
AUZ AUSTRALIAN MINES cobalt 0.617647058824 -0.607142857143 0.055 127.6M
LI3 LITHIUM CONSOLID lithium 0.5 -0.526315789474 0.09 8.1M
GWR GWR GROUP lithium 0.5 0.515151515152 0.15 39.1M
ADN ANDROMEDA METALS lithium 0.333333333333 0 0.008 8.6M
KDR KIDMAN RESOURCES lithium 0.289719626168 0.00363636363636 1.38 531.4M
LRS LATIN RESOURCES lithium 0.25 0 0.005 11.2M
SYR SYRAH RESOURCES graphite 0.235125448029 -0.516011235955 1.723 596.2M
SGQ ST GEORGE MINING cobalt 0.192307692308 0.291666666667 0.155 43.2M
HXG HEXAGON RESOURCE graphite 0.185185185185 0 0.16 43.8M
ORE OROCOBRE lithium 0.178062678063 -0.277855396437 4.135 1.1B
AVZ AVZ MINERALS lithium 0.169014084507 -0.68679245283 0.083 143.5M
PNN PEPINNINI LITHIU lithium 0.166666666667 -0.740740740741 0.007 4.1M
GXY GALAXY RESOURCES lithium 0.155251141553 -0.339425587467 2.53 1.1B
DGR DGR GLOBAL lithium 0.153846153846 0.428571428571 0.15 92.0M
ARL ARDEA RESOURCES cobalt 0.153153153153 -0.594936708861 0.64 56.2M
BPL BROKEN HILL PROS cobalt 0.146341463415 -0.12962962963 0.047 7.0M
DTM DART MINING NL lithium 0.142857142857 -0.2 0.008 6.9M
TNG TNG vanadium 0.142857142857 -0.2 0.12 111.1M
AXE ARCHER EXPLORATI cobalt 0.142857142857 -0.04 0.072 13.6M
FGR FIRST GRAPHENE L graphite 0.142857142857 0.52380952381 0.16 64.6M
THX THUNDELARRA cobalt 0.133333333333 -0.227272727273 0.017 10.8M
NMT NEOMETALS lithium 0.133333333333 -0.426966292135 0.255 141.4M
CLQ CLEAN TEQ HOLDIN cobalt 0.131578947368 -0.718032786885 0.43 305.6M
TAW TAWANA RESOURCES lithium 0.130434782609 -0.277777777778 0.26 153.2M
COB COBALT BLUE HOLD cobalt 0.119047619048 -0.145454545455 0.235 26.7M
WML WOOMERA MINING (listed Mar 2018) lithium 0.114942528736 -0.515 0.097 10.9M
OKR OKAPI RESOURCES cobalt 0.111111111111 -0.5 0.2 6.9M
SRN SUREFIRE RESOURC vanadium 0.111111111111 -0.411764705882 0.01 4.4M
CAZ CAZALY RESOURCES lithium 0.111111111111 -0.166666666667 0.03 6.9M
CMC CHINA MAGNESIUM lithium 0.111111111111 0.2 0.03 9.4M
TAR TARUGA MINERALS lithium 0.109090909091 -0.265060240964 0.061 8.5M
MIN MINERAL RESOURCE lithium 0.105623648161 -0.156026417171 15.335 2.9B
AVL AUSTRALIAN VANAD vanadium 0.105263157895 1.625 0.042 67.2M
EMH EUROPEAN METALS lithium 0.105263157895 -0.454545454545 0.42 59.4M
PLS PILBARA MINERALS lithium 0.102631578947 -0.0477272727273 0.838 1.5B
CZI CASSINI RESOURCE cobalt 0.0958904109589 -0.183673469388 0.08 28.0M
BSX BLACKSTONE MINER cobalt 0.0909090909091 -0.727272727273 0.12 13.5M
SRK STRIKE RESOURCES lithium 0.0909090909091 0.463414634146 0.06 8.7M
TNO TANDO RESOURCES vanadium 0.0909090909091 0.6 0.12 23.2M
ARU ARAFURA RESOURCE vanadium 0.089552238806 -0.239583333333 0.073 45.3M
POS POSEIDON NICKEL lithium 0.0888888888889 0.0208333333333 0.049 129.5M
ASN ANSON RESOURCES lithium 0.0833333333333 -0.178947368421 0.078 38.6M
CLL COLLERINA COBALT cobalt 0.0833333333333 0.645569620253 0.13 70.9M
DEG DE GREY MINING lithium 0.0740740740741 -0.516666666667 0.145 49.3M
MEI METEORIC RESOURC cobalt 0.0714285714286 -0.788732394366 0.015 8.0M
RIO RIO TINTO lithium 0.0710625674218 0.0846647548819 79.43 121.9B
CHN CHALICE GOLD MIN vanadium 0.0689655172414 -0.243902439024 0.155 41.3M
FEL FE cobalt 0.0666666666667 -0.238095238095 0.016 5.2M
IRC INTERMIN RES vanadium 0.0666666666667 0.454545454545 0.16 36.5M
AGY ARGOSY MINERALS lithium 0.0666666666667 -0.095652173913 0.208 193.9M
GED GOLDEN DEEPS vanadium 0.063829787234 0.25 0.05 8.7M
BKT BLACK ROCK MININ graphite 0.0625 -0.476923076923 0.034 17.7M
LPD LEPIDICO lithium 0.0625 -0.433333333333 0.017 57.1M
MCT METALICITY lithium 0.0625 -0.66 0.017 10.1M
ANW AUS TIN MINING L cobalt 0.0588235294118 1 0.018 35.6M
VRC VOLT RESOURCES graphite 0.0555555555556 -0.24 0.019 27.7M
HAV HAVILAH RESOURCE cobalt 0.0540540540541 -0.0487804878049 0.195 40.4M
LIT LITHIUM AUSTRALI lithium 0.0537634408602 -0.554545454545 0.098 45.0M
NVA NOVA MINERALS lithium 0.05 0.615384615385 0.021 15.6M
ESR ESTRELLA RESOURC lithium 0.047619047619 -0.266666666667 0.022 10.3M
TRT TODD RIVER RESOU lithium 0.046511627907 -0.237288135593 0.09 7.8M
HGM HIGH GRADE METAL cobalt 0.0384615384615 -0.15625 0.027 11.3M
PSC PROSPECT RESOURC lithium 0.0384615384615 -0.480769230769 0.027 55.6M
SYA SAYONA MINING lithium 0.0384615384615 -0.0357142857143 0.027 46.3M
LPI LITHIUM POWER IN lithium 0.0384615384615 -0.530434782609 0.27 70.9M
GSC GLOBAL GEOSCIENC lithium 0.0333333333333 0.180952380952 0.248 382.1M
HMX HAMMER METALS cobalt 0.0333333333333 -0.184210526316 0.031 8.6M
S32 SOUTH32 manganese 0.031339031339 0.0197183098592 3.62 18.7B
EUC EUROPEAN COBALT cobalt 0.0222222222222 -0.790909090909 0.046 32.8M
TMT TECHNOLOGY METAL vanadium 0.0192307692308 1.78947368421 0.53 35.7M
AML AEON METALS cobalt 0.0181818181818 0.302325581395 0.28 170.4M
MNS MAGNIS ENERGY TE graphite 0.0169491525424 -0.302325581395 0.3 183.1M
MTC METALSTECH lithium 0.0169491525424 -0.828571428571 0.06 7.0M
ZNC ZENITH MINERALS lithium 0.0120481927711 -0.236363636364 0.084 17.9M
BOA BOADICEA RESOURC lithium 0.0119047619048 -0.392857142857 0.085 4.5M
AYR ALLOY RESOURCES cobalt 0 -0.6 0.004 6.3M
AZI ALTA ZINC cobalt 0 -0.642857142857 0.005 6.8M
ADV ARDIDEN lithium 0 -0.5 0.007 11.7M
AGO ATLAS IRON lithium 0 1.64705882353 0.045 432.9M
AUR AURIS MINERALS L vanadium 0 -0.34375 0.042 17.2M
AOU AUROCH MINERALS lithium 0 -0.673469387755 0.08 7.9M
BAR BARRA RESOURCES cobalt 0 -0.22 0.039 20.7M
BAT BATTERY MINERALS graphite 0 -0.602941176471 0.027 30.1M
BAU BAUXITE RESOURCE lithium 0 -0.291139240506 0.056 12.0M
BMT BERKUT MINERALS lithium 0 -0.782608695652 0.075 4.1M
BDI BLINA MINERALS N cobalt 0 0 0.002 6.5M
BYH BRYAH RESOURCES manganese 0 -0.38125 0.099 5.6M
CAD CAENEUS MINERALS lithium 0 -0.666666666667 0.001 14.1M
CDT CASTLE MINERALS graphite 0 -0.864406779661 0.008 1.8M
CHK COHIBA MINERALS lithium 0 -0.333333333333 0.006 3.3M
CZN CORAZON MINING L cobalt 0 -0.681818181818 0.007 8.9M
CXO CORE EXPLORATION lithium 0 -0.0754716981132 0.049 30.4M
CGM COUGAR METALS NL lithium 0 -0.8 0.003 2.9M
CAS CRUSADER RESOURC lithium 0 -0.782608695652 0.02 10.0M
DHR DARK HORSE RESOU lithium 0 -0.375 0.005 9.9M
E25 ELEMENT 25 manganese 0 -0.173913043478 0.19 15.9M
EME ENERGY METALS vanadium 0 0.578947368421 0.15 28.3M
ENT ENTERPRISE METAL lithium 0 -0.481481481481 0.014 5.4M
EUR EUROPEAN LITHIUM lithium 0 1.2 0.11 60.3M
GBE GLOBE METALS AND graphite 0 0 0.014 6.5M
GPP GREENPOWER ENERG lithium 0 -0.809523809524 0.004 6.3M
HIG HIGHLANDS PAC cobalt 0 -0.130434782609 0.1 109.3M
JRV JERVOIS MINING cobalt 0 -0.542168674699 0.19 44.7M
KLH KALIA lithium 0 -0.666666666667 0.005 12.6M
LML LINCOLN MINERALS graphite 0 -0.818181818182 0.008 4.6M
MZN MARINDI METALS L lithium 0 -0.545454545455 0.005 8.9M
MZZ MATADOR MINING lithium 0 0.276595744681 0.3 16.2M
MXR MAXIMUS RESOURCE lithium 0 -0.5 0.001 3.5M
MTH MITHRIL RESOURCE lithium 0 -0.8 0.007 1.4M
MOX MONAX MINING lithium 0 -0.714285714286 0.002 1.4M
MTB MOUNT BURGESS vanadium 0 -0.583333333333 0.005 2.2M
OAR OAKDALERESOURCES lithium 0 -0.581395348837 0.018 1.2M
PIO PIONEER RESOURCE lithium 0 -0.451612903226 0.017 27.1M
POW PROTEAN ENERGY L vanadium 0 -0.28125 0.023 7.1M
RMX RED MOUNTAIN MIN cobalt 0 -0.533333333333 0.007 4.7M
RLC REEDY LAGOON lithium 0 -0.8 0.008 2.8M
RNU RENASCOR RESOURC graphite 0 -0.4 0.018 18.3M
RIE RIEDEL RESOURCES cobalt 0 -0.516129032258 0.03 12.5M
RTR RUMBLE RESOURCES vanadium 0 -0.4125 0.047 17.9M
SBR SABRE RES vanadium 0 -0.0909090909091 0.01 4.1M
SI6 SIX SIGMA METALS lithium 0 -0.583333333333 0.005 2.3M
SXX SOUTHERN CROSS vanadium 0 -0.333333333333 0.006 6.5M
TON TRITON MINERALS graphite 0 -0.443037974684 0.044 40.8M
VMS VENTURE MINERALS lithium 0 -0.153846153846 0.022 11.5M
VIC VICTORY MINES (suspended) cobalt 0 -0.583333333333 0.005 6.1M
VML VITAL METALS cobalt 0 0.166666666667 0.007 12.2M
WKT WALKABOUT RESOUR lithium 0 0.220930232558 0.105 27.1M
ZEU ZEUS RESOURCES lithium 0 0.0833333333333 0.013 2.3M
PAN PANORAMIC RESOUR cobalt -0.0106382978723 0.112440191388 0.465 232.4M
TLG TALGA RESOURCES graphite -0.010752688172 -0.140186915888 0.46 101.1M
SPI SPITFIRE MATERIA manganese -0.0147058823529 -0.484615384615 0.067 60.4M
INF INFINITY LITHIUM lithium -0.0166666666667 -0.705 0.059 11.0M
NZC NZURI COPPER cobalt -0.02 0.225 0.245 72.5M
VXR VENTUREX RESOURC lithium -0.0222222222222 -0.185185185185 0.22 55.2M
PGM PLATINA RESOURCE cobalt -0.0333333333333 -0.72380952381 0.058 15.3M
THR THOR MINING-CDI lithium -0.0333333333333 0.318181818182 0.029 19.5M
KOR KORAB RESOURCES lithium -0.0344827586207 -0.0666666666667 0.028 8.6M
ORN ORION MINERALS L lithium -0.0344827586207 -0.0666666666667 0.028 50.6M
HWK HAWKSTONE MINING lithium -0.04 0 0.024 13.1M
MRR MINREX RESOURCES cobalt -0.04 -0.771428571429 0.024 2.2M
CNJ CONICO cobalt -0.0416666666667 -0.410256410256 0.023 7.7M
4CE FORCE COMMODITIE lithium -0.0416666666667 -0.581818181818 0.023 8.9M
CLA CELSIUS RESOURCE cobalt -0.0454545454545 0.166666666667 0.105 75.8M
JMS JUPITER MINES manganese -0.046875 0 0.305 607.3M
KSN KINGSTON RESOURC lithium -0.047619047619 -0.0909090909091 0.02 24.5M
SVM SOVEREIGN METALS graphite -0.0487804878049 -0.35 0.078 21.6M
IDA INDIANA RESOURCE graphite -0.05 -0.2875 0.057 5.5M
CFE CAPE LAMBERT RES lithium -0.05 -0.208333333333 0.019 20.2M
SCI SILVER CITY MINE lithium -0.0526315789474 -0.4375 0.018 4.4M
AEE AURA ENERGY lithium -0.0555555555556 -0.227272727273 0.017 18.2M
RDS REDSTONE RESOURC vanadium -0.0555555555556 0.307692307692 0.017 7.9M
AMD ARROW MINERALS L lithium -0.0625 -0.85 0.015 4.6M
WCN WHITE CLIFF MINE cobalt -0.0625 -0.939759036145 0.015 1.3M
GLN GALAN LITHIUM lithium -0.0645161290323 3.14285714286 0.29 28.2M
CCZ CASTILLO COPPER cobalt -0.0666666666667 -0.44 0.028 16.8M
SEI SPECIALITY METAL lithium -0.0666666666667 0 0.014 7.8M
SO4 SALT LAKE POTASH vanadium -0.0686274509804 -0.151785714286 0.475 82.3M
PLL PIEDMONT LITHIUM lithium -0.0714285714286 -0.458333333333 0.13 72.7M
CZR COZIRON RESOURCE vanadium -0.0714285714286 -0.59375 0.013 23.2M
CGN CRATER GOLD MINI graphite -0.0714285714286 0.857142857143 0.026 7.3M
PM1 PURE MINERALS lithium. Manganese -0.0714285714286 -0.409090909091 0.013 4.1M
N27 NORTHERN COBALT lithium -0.0816326530612 -0.808510638298 0.09 4.6M
HNR HANNANS lithium -0.0833333333333 -0.388888888889 0.011 21.8M
TKL TRAKA RESOURCES lithium -0.0857142857143 -0.157894736842 0.032 10.6M
OMH OM HLDGS manganese -0.0866666666667 1.88421052632 1.37 960.2M
MLM METALLICA MINRAL cobalt -0.0882352941176 -0.340425531915 0.031 9.7M
PUR PURSUIT MINERALS vanadium -0.0888888888889 -0.707142857143 0.041 3.3M
BSM BASS METALS lithium -0.0909090909091 0 0.02 47.8M
BGS BIRIMIAN lithium -0.0909090909091 -0.428571428571 0.2 46.7M
KAI KAIROS MINERALS lithium -0.1 -0.670731707317 0.027 22.2M
KTA KRAKATOA RESOURC lithium -0.1 -0.46 0.027 3.2M
AJM ALTURA MINING lithium -0.102325581395 -0.5175 0.193 364.1M
ARM AURORA MINERALS lithium -0.12 -0.435897435897 0.022 2.6M
LTR LIONTOWN RESOURC lithium -0.125 -0.16 0.021 23.6M
CRL COMET RESOURCES graphite -0.125 -0.681818181818 0.028 6.6M
GME GME RESOURCES cobalt -0.127659574468 -0.554347826087 0.082 42.4M
FCC FIRST COBALT-CDI cobalt -0.137254901961 0 0.22 71.3M
IEC INTRA ENERGY COR lithium -0.142857142857 0.714285714286 0.012 4.7M
SUH SOUTHERN HEMISPH lithium -0.145161290323 -0.66875 0.053 4.5M
GPX GRAPHEX MINING L graphite -0.148148148148 -0.206896551724 0.23 18.9M
ARE ARGONAUT RESOURC lithium -0.15 -0.392857142857 0.017 28.0M
VMC VENUS METALS COR lithium -0.15 0.307692307692 0.17 15.3M
BEM BLACKEARTH MINER graphite -0.15652173913 0 0.097 6.1M
NWC NEW WORLD COBALT cobalt -0.166666666667 -0.766666666667 0.035 17.9M
PMY PACIFICO MINERAL manganese -0.166666666667 -0.166666666667 0.005 6.8M
PSM PENINSULA MINES lithium -0.166666666667 -0.761904761905 0.005 4.2M
KNL KIBARAN RESOURCE graphite -0.171428571429 -0.09375 0.145 44.1M
BUX BUXTON RESOURCES graphite -0.193548387097 0.25 0.125 14.3M
TKM TREK METALS lithium -0.230769230769 -0.72972972973 0.01 3.1M
DEV DEVEX RESOURCES lithium -0.25 -0.727272727273 0.003 3.3M
MQR MARQUEE RESOURCE lithium -0.25 -0.55 0.09 3.8M
MLS METALS AUSTRALIA lithium -0.25 -0.4 0.003 7.0M
LCD LATITUDE CONSOLI lithium -0.25 -0.28 0.018 5.0M
CUL CULLEN RES cobalt -0.318181818182 -0.545454545455 0.015 2.2M
KRC KING RIVER COPPE vanadium -0.363636363636 4 0.035 42.1M