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High Voltage: Wesfarmers pounces on Kidman. Who’s next?
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Each week our High Voltage column wraps all the news driving ASX battery metals stocks with exposure to lithium, cobalt, graphite, manganese and vanadium.
It was a seminal week for lithium after $40b conglomerate Wesfarmers (ASX:WES) made a $776m play for Kidman Resources (ASX:KDR).
The $1.90 per share offer was a 47 per cent premium to Kidman’s last closing share price, but analysts JP Morgan’s and Cannacord both reckon this deal undervalues the near-term lithium producer.
Both say there’s potential for a third party to place a higher bid.
- Scroll down for the recent performance of 200 ASX battery metal stocks >>>
The entire market appeared to perk up on the news. With a number of advanced battery metals projects being progressed by undervalued small caps, investors are wondering ‘who’s next?’
Securing project finance on their own is especially tough for battery metals small caps, so takeover offers from the big end of town are likely to continue.
This is because, unlike gold or base metals, lithium/cobalt/vanadium contracts are ultimately decided between buyer and seller behind closed doors.
Commercial banks and other big lenders aren’t willing to risk big dollars on such opaque markets.
But even this could be about to change, says Justin Little from law firm Gilbert + Tobin.
“We … anticipate the debt finance dynamics around lithium and other battery chemical projects will shift quite quickly once one or more of the big four lenders in Australia commits to a major project or two in this emerging sector, which we think is likely to happen,” he says.
SMALL CAP SPOTLIGHT
Unsurprisingly, lithium plays dominated the winners column this week. Check this out:
Also important is who made the gains — both established producers like Pilbara Minerals (ASX:PLS), Altura Mining (ASX:AJM), Orocobre (ASX:ORE) and Galaxy Resources (ASX:GXY) and advanced explorers enjoyed share price increases after months of declines.
Some of these advanced explorers included guys like Liontown Resources (ASX:LTR) in Western Australia – which led the pack with a 48 per cent gain — Birimian (ASX:BGS) and AVZ Minerals (ASX:AVZ) in Africa, and Infinity Lithium (ASX:INF) in the EU.
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
| Ticker | Name | 1 Week Price Change % | 1 Year Price Change % | Share Price [May 06] | Market Cap |
|---|---|---|---|---|---|
| LTR | LIONTOWN RESOURCES | 48 | 106 | 0.049 | $60,431,408.00 |
| KDR | KIDMAN RESOURCES | 38 | -9 | 1.86 | $754,947,136.00 |
| EME | ENERGY METALS | 25 | 50 | 0.15 | $31,452,496.00 |
| VMS | VENTURE MINERALS | 25 | -32 | 0.026 | $13,015,300.00 |
| HNR | HANNANS | 25 | 6 | 0.017 | $29,819,318.00 |
| SRN | SUREFIRE RESOURCES | 25 | -50 | 0.006 | $2,515,768.25 |
| RDS | REDSTONE RESOURCES | 18 | 13 | 0.013 | $6,161,536.00 |
| SUH | SOUTHERN HEMISPHERE MINING | 18 | 18 | 0.059 | $5,219,699.00 |
| DEV | DEVEX RESOURCES | 15 | -45 | 0.045 | $5,017,907.00 |
| NMT | NEOMETALS | 14 | -17 | 0.25 | $135,993,568.00 |
| AJM | ALTURA MINING | 13 | -66 | 0.1225 | $276,310,112.00 |
| SCI | SILVER CITY MINERALS | 13 | -79 | 0.009 | $2,643,392.25 |
| ORE | OROCOBRE | 12 | -37 | 3.51 | $970,825,664.00 |
| JRV | JERVOIS MINING | 10 | -40 | 0.25 | $59,164,692.00 |
| HAV | HAVILAH RESOURCES | 10 | -19 | 0.175 | $36,011,092.00 |
| BGS | BIRIMIAN | 10 | -67 | 0.17 | $43,644,168.00 |
| PLS | PILBARA MINERALS | 10 | -24 | 0.695 | $1,330,861,824.00 |
| ADN | ANDROMEDA METALS | 9 | -7 | 0.0065 | $8,132,995.50 |
| WKT | WALKABOUT RESOURCES | 8 | 210 | 0.26 | $79,104,936.00 |
| ESR | ESTRELLA RESOURCES | 8 | -52 | 0.012 | $7,425,366.00 |
| CZR | COZIRON RESOURCES | 8 | -50 | 0.014 | $24,997,718.00 |
| MEI | METEORIC RESOURCES | 8 | -59 | 0.014 | $10,380,381.00 |
| CGN | CRATER GOLD MINING | 8 | -26 | 0.014 | $17,184,942.00 |
| TON | TRITON MINERALS | 7 | -29 | 0.049 | $40,794,068.00 |
| MQR | MARQUEE RESOURCES | 7 | -89 | 0.045 | $1,923,492.75 |
| AML | AEON METALS | 7 | -36 | 0.225 | $151,440,688.00 |
| GME | GME RESOURCES | 7 | -58 | 0.06 | $28,952,520.00 |
| THR | THOR MINING | 7 | -63 | 0.015 | $12,254,390.00 |
| LPI | LITHIUM POWER INTERNATIONAL | 6 | -14 | 0.25 | $65,628,476.00 |
| CLA | CELSIUS RESOURCES | 6 | -92 | 0.016 | $12,872,707.00 |
| VML | VITAL METALS | 6 | -6 | 0.0085 | $14,812,196.00 |
| KOR | KORAB RESOURCES | 6 | -29 | 0.035 | $10,891,959.00 |
| E25 | ELEMENT 25 | 6 | -27 | 0.19 | $15,953,226.00 |
| TMT | TECHNOLOGY METALS AUSTRALIA | 5 | -52 | 0.185 | $17,073,062.00 |
| SO4 | SALT LAKE POTASH | 4 | 14 | 0.62 | $121,699,640.00 |
| JRL | JINDALEE RESOURCES | 4 | 20 | 0.24 | $8,748,694.00 |
| LKE | LAKE RESOURCES | 4 | -52 | 0.053 | $20,192,994.00 |
| BMT | BERKUT MINERALS | 4 | 12 | 0.145 | $13,437,666.00 |
| COB | COBALT BLUE | 3 | -86 | 0.15 | $18,689,030.00 |
| INF | INFINITY LITHIUM | 3 | -7 | 0.09 | $17,495,742.00 |
| MXR | MAXIMUS RESOURCES | 3 | -43 | 0.065 | $1,967,746.13 |
| FGR | FIRST GRAPHENE | 3 | 24 | 0.18 | $76,591,376.00 |
| EMH | EUROPEAN METALS | 3 | -1 | 0.39 | $58,656,892.00 |
| LIT | LITHIUM AUSTRALIA | 3 | -41 | 0.08 | $37,304,476.00 |
| AVZ | AVZ MINERALS | 2 | -77 | 0.042 | $98,177,536.00 |
| GXY | GALAXY RESOURCES | 2 | -53 | 1.53 | $645,925,568.00 |
| ZNC | ZENITH MINERALS | 2 | -69 | 0.053 | $11,701,917.00 |
| AXE | ARCHER EXPLORATION | 1 | -44 | 0.076 | $14,977,448.00 |
| CZN | CORAZON MINING | 0 | -70 | 0.003 | $4,142,066.00 |
| SGQ | ST GEORGE MINING | 0 | 4 | 0.14 | $41,736,268.00 |
| PSM | PENINSULA MINES | 0 | -50 | 0.005 | $3,451,488.25 |
| EUC | EUROPEAN COBALT | 0 | -60 | 0.025 | $19,042,434.00 |
| BAU | BAUXITE RESOURCES | 0 | -6 | 0.058 | $12,436,495.00 |
| PSC | PROSPECT RESOURCES | 0 | -57 | 0.018 | $38,876,184.00 |
| CDT | CASTLE MINERALS | 0 | -67 | 0.007 | $1,566,571.88 |
| PM1 | PURE MINERALS | 0 | -32 | 0.013 | $4,086,927.75 |
| ADV | ARDIDEN | 0 | -77 | 0.003 | $5,044,140.50 |
| PNN | PEPINNINI LITHIUM | 0 | -88 | 0.003 | $3,684,035.25 |
| MTH | MITHRIL RESOURCES | 0 | -68 | 0.006 | $2,534,335.25 |
| HWK | HAWKSTONE MINING | 0 | -56 | 0.016 | $7,414,134.00 |
| MTB | MOUNT BURGESS MINING | 0 | -63 | 0.003 | $1,355,638.13 |
| NVA | NOVA MINERALS | 0 | -50 | 0.015 | $10,837,878.00 |
| RIE | RIEDEL RESOURCES | 0 | -86 | 0.01 | $4,180,697.00 |
| ENT | ENTERPRISE METALS | 0 | -33 | 0.01 | $4,014,127.50 |
| DHR | DARK HORSE RESOURCES | 0 | -75 | 0.005 | $9,880,433.00 |
| AUT | AUTECO MINERALS | 0 | 0 | 0.005 | $5,012,323.50 |
| SYA | SAYONA MINING | 0 | -69 | 0.015 | $25,838,616.00 |
| LRS | LATIN RESOURCES | 0 | -85 | 0.0015 | $6,754,851.50 |
| ORN | ORION MINERALS | 0 | -3 | 0.035 | $66,110,384.00 |
| BUX | BUXTON RESOURCES | 0 | 0 | 0.115 | $15,646,375.00 |
| PLL | PIEDMONT LITHIUM | 0 | 3 | 0.16 | $100,557,056.00 |
| JMS | JUPITER MINES | 0 | -1 | 0.31 | $656,262,016.00 |
| DTM | DART MINING | 0 | -49 | 0.006 | $5,568,257.00 |
| MZN | MARINDI METALS | 0 | -73 | 0.003 | $8,389,484.00 |
| HIG | HIGHLANDS PACIFIC | 0 | 21 | 0.105 | $114,737,056.00 |
| ASN | ANSON RESOURCES | 0 | 36 | 0.06 | $29,403,378.00 |
| BDI | BLINA MINERALS | 0 | -33 | 0.001 | $4,543,882.50 |
| INR | IONEER | 0 | -61 | 0.195 | $287,621,792.00 |
| CGM | COUGAR METALS | 0 | -83 | 0.001 | $1,121,027.75 |
| AVL | AUSTRALIAN VANADIUM | 0 | -49 | 0.019 | $37,503,032.00 |
| ARL | ARDEA RESOURCES | 0 | -54 | 0.43 | $45,642,532.00 |
| N27 | NORTHERN COBALT | 0 | -79 | 0.059 | $3,174,991.00 |
| KTA | KRAKATOA RESOURCES | 0 | -10 | 0.028 | $3,290,000.00 |
| OAR | OAKDALE RESOURCES | 0 | -22 | 0.018 | $3,542,041.25 |
| OMH | OM HOLDINGS | -1 | -8 | 0.995 | $746,009,600.00 |
| NZC | NZURI COPPER | -2 | 3 | 0.31 | $91,730,704.00 |
| MIN | MINERAL RESOURCES | -2 | -20 | 15.155 | $2,923,051,776.00 |
| MNS | MAGNIS ENERGY TECHNOLOGIES | -2 | -35 | 0.255 | $155,839,680.00 |
| NWC | NEW WORLD COBALT | -2 | -83 | 0.014 | $8,603,675.00 |
| LI3 | LITHIUM CONSOLIDATED | -2 | -9 | 0.086 | $7,901,524.50 |
| IDA | INDIANA RESOURCES | -3 | -34 | 0.035 | $4,133,800.25 |
| PAN | PANORAMIC RESOURCES | -3 | -32 | 0.36 | $196,826,528.00 |
| S32 | SOUTH32 | -3 | -8 | 3.285 | $16,651,392,000.00 |
| BSX | BLACKSTONE MINERALS | -3 | -83 | 0.064 | $7,181,105.00 |
| BEM | BLACKEARTH MINERALS | -3 | -54 | 0.062 | $5,185,646.00 |
| RIO | RIO TINTO | -3 | 30 | 93.635 | $139,286,560,768.00 |
| CRL | COMET RESOURCES | -3 | -41 | 0.029 | $6,902,000.00 |
| OKR | OKAPI RESOURCES | -3 | -68 | 0.125 | $4,979,715.50 |
| SEI | SPECIALITY METALS | -3 | 17 | 0.028 | $15,536,540.00 |
| BAR | BARRA RESOURCES | -3 | -51 | 0.026 | $15,088,941.00 |
| HXG | HEXAGON RESOURCES | -4 | -35 | 0.13 | $37,931,840.00 |
| KNL | KIBARAN RESOURCES | -4 | -4 | 0.13 | $36,577,620.00 |
| ARU | ARAFURA RESOURCES | -4 | -51 | 0.05 | $39,070,156.00 |
| CHN | CHALICE GOLD MINES | -4 | 7 | 0.12 | $31,988,176.00 |
| AUZ | AUSTRALIAN MINES | -4 | -72 | 0.023 | $68,916,000.00 |
| PUR | PURSUIT MINERALS | -4 | -76 | 0.023 | $4,106,128.50 |
| BAT | BATTERY MINERALS | -4 | -62 | 0.023 | $29,294,446.00 |
| VXR | VENTUREX RESOURCES | -5 | 3 | 0.2 | $58,750,156.00 |
| EUR | EUROPEAN LITHIUM | -5 | -49 | 0.1 | $56,696,584.00 |
| TNO | TANDO RESOURCES | -5 | -49 | 0.1 | $19,472,510.00 |
| IEC | INTRA ENERGY | -5 | 42 | 0.017 | $7,754,480.50 |
| RNU | RENASCOR RESOURCES | -5 | -33 | 0.02 | $23,068,486.00 |
| VRC | VOLT RESOURCES | -5 | -43 | 0.0195 | $29,109,564.00 |
| SVM | SOVEREIGN METALS | -5 | -24 | 0.08 | $28,382,620.00 |
| LPD | LEPIDICO | -5 | -7 | 0.038 | $127,534,656.00 |
| AGY | ARGOSY MINERALS | -5 | -75 | 0.072 | $76,087,664.00 |
| GPX | GRAPHEX MINING | -5 | 4 | 0.275 | $24,449,634.00 |
| RTR | RUMBLE RESOURCES | -5 | 4 | 0.05 | $20,446,926.00 |
| POS | POSEIDON NICKEL | -5 | 3 | 0.038 | $92,494,568.00 |
| SYR | SYRAH RESOURCES | -5 | -67 | 1.1025 | $389,058,112.00 |
| KSN | KINGSTON RESOURCES | -6 | -15 | 0.017 | $23,583,436.00 |
| WML | WOOMERA MINING | -6 | -76 | 0.033 | $3,719,246.25 |
| FCC | FIRST COBALT | -6 | -80 | 0.155 | $55,769,016.00 |
| CXO | CORE LITHIUM | -6 | -12 | 0.046 | $30,556,532.00 |
| VMC | VENUS METALS CORP | -6 | 30 | 0.15 | $13,453,297.00 |
| MRR | MINREX RESOURCES | -7 | -72 | 0.014 | $1,342,288.13 |
| FEL | FE | -7 | -53 | 0.014 | $5,475,791.50 |
| NXE | NEW ENERGY MINERALS | -7 | -87 | 0.028 | $4,225,072.50 |
| GBE | GLOBE METALS AND MINING | -7 | 0 | 0.014 | $6,522,913.00 |
| AMD | ARROW MINERALS | -7 | -48 | 0.013 | $4,089,028.00 |
| DGR | DGR GLOBAL | -7 | 40 | 0.13 | $79,713,648.00 |
| TLG | TALGA RESOURCES | -7 | -16 | 0.62 | $135,594,896.00 |
| GLN | GALAN LITHIUM | -8 | 85 | 0.24 | $31,686,898.00 |
| CZI | CASSINI RESOURCES | -8 | 42 | 0.095 | $40,304,188.00 |
| PIO | PIONEER RESOURCES | -8 | -48 | 0.012 | $18,089,102.00 |
| ARE | ARGONAUT RESOURCES | -8 | -46 | 0.013 | $18,652,568.00 |
| SVD | SCANDIVANADIUM | -8 | -57 | 0.011 | $4,222,393.00 |
| PMY | PACIFICO MINERALS | -8 | -50 | 0.0065 | $12,338,628.00 |
| A4N | ALPHA HPA | -9 | -10 | 0.105 | $59,545,500.00 |
| ANW | AUS TIN MINING | -9 | -31 | 0.011 | $20,418,286.00 |
| CHK | COHIBA MINERALS | -9 | 25 | 0.01 | $6,646,142.50 |
| SI6 | SIX SIGMA METALS | -9 | -64 | 0.005 | $2,287,515.75 |
| GED | GOLDEN DEEPS | -10 | -58 | 0.027 | $4,627,281.50 |
| GWR | GWR GROUP | -10 | -60 | 0.09 | $22,816,570.00 |
| RMX | RED MOUNTAIN MINING | -10 | -62 | 0.004 | $3,501,165.50 |
| 4CE | FORCE COMMODITIES | -10 | -89 | 0.009 | $3,820,642.75 |
| CLQ | CLEAN TEQ | -10 | -70 | 0.3 | $227,670,368.00 |
| BPL | BROKEN HILL PROSPECTING | -11 | -85 | 0.016 | $2,514,017.75 |
| DEG | DE GREY MINING | -11 | -50 | 0.083 | $35,968,244.00 |
| TRT | TODD RIVER RESOURCES | -11 | -15 | 0.069 | $9,541,240.00 |
| BKT | BLACK ROCK MINING | -12 | 57 | 0.072 | $40,403,008.00 |
| LCD | LATITUDE CONSOLIDATED | -12 | -61 | 0.015 | $4,127,685.00 |
| IRC | INTERMIN RESOURCES | -12 | -42 | 0.11 | $25,892,732.00 |
| CMC | CHINA MAGNESIUM | -13 | 67 | 0.035 | $16,185,349.00 |
| ERX | EXORE RESOURCES | -13 | 40 | 0.07 | $32,587,966.00 |
| CFE | CAPE LAMBERT RESOURCES | -13 | -56 | 0.015 | $14,187,622.00 |
| SRK | STRIKE RESOURCES | -13 | 12 | 0.056 | $8,138,719.00 |
| MZZ | MATADOR MINING | -13 | -29 | 0.2 | $13,420,833.00 |
| CAZ | CAZALY RESOURCES | -13 | -71 | 0.02 | $5,236,381.00 |
| BYH | BRYAH RESOURCES | -13 | -43 | 0.074 | $4,592,916.50 |
| CNJ | CONICO | -13 | -64 | 0.013 | $4,572,857.50 |
| AZI | ALTA ZINC | -14 | -63 | 0.003 | $5,464,903.00 |
| HGM | HIGH GRADE METALS | -14 | -88 | 0.006 | $2,717,627.25 |
| LML | LINCOLN MINERALS | -14 | -82 | 0.006 | $3,449,902.00 |
| BOA | BOADICEA RESOURCES | -15 | -23 | 0.17 | $8,983,679.00 |
| TKL | TRAKA RESOURCES | -15 | -79 | 0.011 | $3,644,531.25 |
| HMX | HAMMER METALS | -16 | -24 | 0.026 | $8,486,021.00 |
| TNG | TNG | -16 | -21 | 0.11 | $101,164,080.00 |
| KAI | KAIROS MINERALS | -17 | -56 | 0.017 | $12,784,093.00 |
| MLM | METALLICA MINERALS | -17 | -65 | 0.015 | $4,860,711.00 |
| TKM | TREK METALS | -17 | -76 | 0.005 | $1,561,518.13 |
| SXX | SOUTHERN CROSS EXPLORATION | -17 | -38 | 0.005 | $5,384,216.00 |
| AOU | AUROCH MINERALS | -17 | -32 | 0.057 | $5,728,702.00 |
| PGM | PLATINA RESOURCES | -19 | -44 | 0.052 | $13,734,564.00 |
| GPP | GREENPOWER ENERGY | -20 | -80 | 0.002 | $3,130,740.75 |
| RLC | REEDY LAGOON | -20 | -79 | 0.004 | $1,609,086.88 |
| AEE | AURA ENERGY | -20 | -62 | 0.01 | $12,072,005.00 |
| MTC | METALSTECH | -21 | -92 | 0.015 | $1,754,308.25 |
| MCT | METALICITY | -22 | -68 | 0.008 | $4,217,246.00 |
| ARM | AURORA MINERALS | -23 | -71 | 0.01 | $1,171,332.88 |
| POW | PROTEAN ENERGY | -23 | -70 | 0.01 | $3,114,372.50 |
| AUR | AURIS MINERALS | -23 | -68 | 0.02 | $8,173,627.00 |
| MLS | METALS AUSTRALIA | -25 | -60 | 0.002 | $4,037,696.75 |
| OAU | ORA GOLD | -25 | -73 | 0.006 | $3,876,575.25 |
| TAR | TARUGA MINERALS | -27 | -85 | 0.036 | $5,082,020.50 |
| BSM | BASS METALS | -27 | -70 | 0.009 | $22,446,996.00 |
| CUL | CULLEN RESOURCES | -29 | -76 | 0.01 | $1,694,648.25 |
| WCN | WHITE CLIFF MINERALS | -29 | -95 | 0.005 | $2,351,734.50 |
| KLH | KALIA | -33 | -83 | 0.0015 | $5,028,695.00 |
| AYR | ALLOY RESOURCES | -33 | -63 | 0.003 | $3,154,155.25 |
| SBR | SABRE RESOURCES | -33 | -75 | 0.004 | $1,627,894.38 |
