These 3 ASX-listed battery metals small caps are going on a run
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Europe is throwing mountains of cash at electric vehicle production, as industry leader Tesla continues to shatter production, revenue, and share price forecasts.
Tesla — now the most valuable carmaker in the world — has crushed some legacy carmakers in H1 2020:
Is battery metals sentiment about to turn a corner?
Battery metals explorer/shell company Enegex (ASX:ENX) was up 75 per cent before going into a trading halt.
“In recent months, Enegex has investigated and identified exploration opportunities in the South West Terrane, an area which is emerging as a mineral province of significant importance,” the company said.
“The company considers that its three project areas, comprised of 12 exploration licence applications, offer the potential for the discovery of deposits of nickel, copper, platinum group elements (PGE), gold, lithium, and rare earth elements.”
Magnis Energy Technologies (ASX:MNS) says Extra Fast Charge (EFC) batteries developed by its technology partner C4V are a “potential game changer”.
The batteries achieved over 85 per cent charge in just six minutes, the company says.
Magnis, which has ambitions to build an end-to-end supply chain for lithium-ion battery production, was up +32 per cent in morning trade.
South African vanadium hopeful Vanadium Resources (ASX:VR8) says high metal recoveries, combined with the high-grade nature of the flagship Steelpoortdrift project “bodes well for the company’s aim of developing the project into one of the world’s lowest capex and opex producers”.
Results from test work confirm that the Steelpoortdrift vanadium concentrate could provide superior feed to other vanadium processing facilities in South Africa, or elsewhere.
A project scoping study is due to be released in the current quarter.
The micro-cap stock was up 20 per cent in morning trade.