Oil Supply Could Far Outstrip Demand Growth if -2-

0354 GMT - Wildcat Resources stands out as one of the best lithium developers on the ASX, says Macquarie. It initiates coverage of the stock with an outperform rating and A$0.90/share target. The company has a large-scale hard-rock development asset close to key infrastructure in the "tier-one" mining jurisdiction of Western Australia, Macquarie says. Wildcat has completed a prefeasibility study and is advancing towards a definitive study in "a market hungry for lithium," says the bank. "We believe WC8 screens attractively on an EV/MRE [mineral resource estimate] basis relative to more established peers, particularly given the size of its resource base and advanced project status," Macquarie says. Shares are up 16% at A$0.55. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

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