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:

Manganese was pipped at the post, coming in 5th place with 3.

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