Stock prices of battery metal names have eased following a strong run up in 2016, however more upside is predicted for the lithium, cobalt juniors on our list
SmallCapPower | December 7, 2016: It was a strong nine months for most battery metal stocks in 2016, as individual equities saw returns in the high hundreds to thousand percent area. This created talk about whether or not there was a bubble forming within the space. As the lithium, cobalt juniors on our list today are down between 25%-40% from their 52 week highs, most would say this would be indicative of a bubble that had effectively burst. However, when we took a closer look at the company fundamentals in the space, it was revealed that many were, in fact, undervalued compared to the Net Asset Values of their resource deposits under NI 43-101 reports. For a more detailed explanation, read the new report that we have released here.
Millennial Lithium Corp. (CVE:ML) – $1.50
Specialty Mining & Metals
Millennial Lithium Corp, formerly Redhill Resources Corp, is a Canada-based exploration and development company focused on lithium assets located in Argentina. The Company owns interests in Pastos Grandes Lithium Project. The Pastos Grandes Lithium Project is an advanced-stage development project located within the Lithium Triangle. The project is located in the Los Andes Department, in the Central portion of the Puna Block of Salta Province, northwestern Argentina.
- Market Cap: $49.18(mm)
- YTD Price PCT Change: 1,566.7%
- Price 52 Week High (CAD): $2.45
- Difference between High and Current: -39%
Wealth Minerals Ltd. (CVE:WML) – $1.14
Non-Gold Precious Metals & Minerals
Wealth Minerals Ltd. is a junior mineral resource exploration company that operates through mineral resources industry segment. It focuses on the acquisition, exploration and development of mineral properties primarily prospective for precious metals and lithium. Its exploration and evaluation assets include Valsequillo Silver Project, which is located in southern Chihuahua State, Mexico, over 40 kilometers southeast of the city of Hidalgo Del Parral; Yanamina Gold Project, which is located in the Department of Ancash in north-central Peru, and N1/N2 Gold Project and Noyell Property both of which located in Quebec. It is engaged in the review and evaluation of a number of mineral projects in South America for possible acquisition, primarily those prospective for lithium. It focuses on acquisition of interests in the Puritama Project, including Puritama 1 to 8 exploration concessions located in the Salar de Aguas Calientes, which is located in Region II, northern Chile.
- Market Cap: $82.78(mm)
- YTD Price PCT Change: 612.5%
- Price 52 Week High (CAD): $1.50
- Difference between High and Current: -24%
Fortune Minerals Ltd. (TSE:FT) – $0.12
Fortune Minerals Limited is a Canada-based development-stage mining company that is engaged in developing, mining and processing precious and specialty minerals projects. It is focused on NICO gold-cobalt-bismuth-copper project, consisting of a proposed mine and mill in the Northwest Territories that will produce a bulk concentrate for shipment to a refinery that it focuses to construct in Saskatchewan. The NICO Gold-Cobalt-Bismuth-Copper deposit is located in the Northwest Territories approximately 160 kilometers from the city of Yellowknife. The products that will be produced at the refinery include cobalt chemicals used to make rechargeable batteries, bismuth metals and chemicals, as well as gold.
- Market Cap: $31.15(mm)
- YTD Price PCT Change: 475.0%
- Price 52 Week High (CAD): $0.17
- Difference between High and Current: -30%
eCobalt Solutions Inc. (TSE:ECS) – $0.58
eCobalt Solutions Inc, formerly Formation Metals Inc, is a mineral exploration and mine development company. Its primary project is Idaho Cobalt Project (ICP), which is located in the mining state of Idaho. The ICP property covers an area of approximately 4,080 acres and includes over 170 mining claims. ICP consists of the mine, mill and concentrator, referred to as the Mine & Mill (M&M) located in Lemhi County outside of the town of Salmon, Idaho, and a hydrometallurgical plant.
- Market Cap: $61.85(mm)
- YTD Price PCT Change: 404.3%
- Price 52 Week High (CAD): $0.78
- Difference between High and Current: -26%
Critical Elements Corp. (CVE:CRE) – $0.54
Specialty Mining & Metals
Critical Elements Corporation is a Canada-based exploration company involved in the acquisition, exploration and development of mining properties. The Company’s properties include Rose Lithium-Tantalum property, Amiral property, Arques property, Bourier property, Caumont property, Dumulon property, Duval property, Lemare property, Nisk property, Valiquette Property and British Columbia Rare Earth properties. Its flagship project is Rose Lithium-Tantalum, which lies in the northeastern part of Superior Province, within the Eastmain greenstone belt (NTS 33C/1). It consists of approximately 340 claims covering a total area of approximately 173.93 square kilometers.
- Market Cap: $77.89(mm)
- YTD Price PCT Change: 191.9%
- Price 52 Week High (CAD): $0.75
- Difference between High and Current: -28%