News

Battery-metal news livened up the Australian market in a week dominated by post-election analysis

Battery-metal news livened up the Australian market in a week dominated by post-election analysis, high iron ore prices, the return of coal to the winner’s circle and the first worrying signs that Dr Copper might be catching a trade-war cold. Five battery-linked events, two in lithium and one in each of graphite, rare earths and nickel, served as a reminder that battery-metals remain a sector with significant growth potential for Australian investors.

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BHP has raised its forecast for the adoption of electric vehicles worldwide (reports The Australian Financial Review).

BHP has raised its forecast for the adoption of electric vehicles worldwide (reports The Australian Financial Review).

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Veteran resource analyst and former fund manager Dr Chris Baker from Bridge Street Capital Partners in Sydney has upped his interim valuation of emerging lithium miner Liontown Resources (ASX: LTR) from 11c to 20c a share on the back of the latest outstanding drilling results from its Kathleen Valley deposit in WA. Baker says the latest drilling, including a spectacular recent intercept of 90m at 1.3% Li2O, underpins the potential for a resource of greater than 60 million tonnes at 1.4% Li2O and a possible mine life of 25 years.

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Kidman Resources shareholders will vote on Wesfarmers’ $776 million takeover offer in August after the lithium miner entered into a scheme implementation deed with the WA-based conglomerate (reports The Australian). Kidman said its board had concluded that the bid was in the best interest of shareholders and recommended they vote in favour of the scheme. Under the agreement, it is proposed that Wesfarmers will acquire 100 per cent of the shares in Kidman at $1.90 per share - a 47.3 per cent premium on the last closing price for Kidman shares on May 1.

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And the word from on high is good news for leveraged battery juniors like Mincor and Liontown; Plus, Bellevue dangles the resource-upgrade carrot and analysts line up to tip big things for Strandline

FOMO among major miners BHP and Rio Tinto was on full display in Barcelona this week at the Bank of America Merrill Lynch mining conference. And it had nothing to do with whether they would be invited by the fun people to the various knees-ups up at the tapas bars up down La Rambla. Nope, it was all about the major miners declaring they were part of the electric vehicle and renewable energy storage revolution.

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The dead hand of Australian politics took a firm grip of the stock market

The dead hand of Australian politics took a firm grip of the stock market in the days before Saturday’s election despite abundant evidence that a number of sectors appear poised to move up sharply, led by gold, oil, iron ore and nickel. Gold and oil are the stand out opportunities as the Middle East heads towards a US v Iran showdown, potentially with severe implications for oil and LNG shipping movements along the world’s energy highway, the Persian Gulf.

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Shares in metals hopeful TNG leapt as much as 45 per cent on the back of its finalisation of an off-take agreement with Swiss group DKSH (reports The West Australian).

Shares in metals hopeful TNG leapt as much as 45 per cent on the back of its finalisation of an off-take agreement with Swiss group DKSH (reports The West Australian). The deal will see DSKH take all of the titanium dioxide pigment produced by its Mt Peake vanadium and titanium project in the Northern Territory. TNG shares jumped 45 per cent to 4.5¢ before dipping to be 3¢ up at 13¢ as at 12.30pm. The company and DKSH have been negotiating a binding deal since disclosing in October that they were in talks.

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Lithium returned as a market driver this week through a combination of discovery news

Lithium returned as a market driver this week through a combination of discovery news and the potential for further takeover developments, eclipsing continued strength in iron ore and signs of a gold revival as international affairs took a turn for the worse. The big news was a possible second bidder entering the race for control of Kidman Resources, the lithium stock in the sights of industrial conglomerate, Wesfarmers.

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