International Battery Metals Ltd - IBATF stock
Introduction[edit]
International Battery Metals Ltd (OTC: IBATF, CSX: IBAT, FSE: 8RE) formerly known as Rheingold Exploration is a Canadian public limited company that works on lithium brine extraction around the world. The company was founded by Dr. John Burba in 2010. The headquarters of the company is in Vancouver, Canada.[1] BATF claims to have a super advanced extraction process that is environmentally friendly and has the potential to produce commercial-grade lithium at a faster rate.[2] The total assets of International Battery Metals Ltd are 32.8the 3M and total liabilities and debt to assets are 19.68M and 59.95% respectively (CSE).[3]
IBAT Trading[edit]
Rheingold Exploration Corp.(CSE: RGE) changed its name to International Battery Metals Ltd. It began trading under the new name and symbol (IBAT) (OTC: IBATF, CSE: IBAT, TWB: IBAT) on 29, 2017.[4] Throughout two rounds, International Battery Metals has raised a total of $12M in investment. On February 24, 2022, it received its most recent capital from a Post-IPO Equity round.[5]
Lithium On Earth's Crust[edit]
Although the sources of lithium on Earth can be found all over the world in a variety of compositions and concentrations, the expense of extracting and purifying the lithium may make it difficult to mine some sources. Spodumene, a hard rock pegmatite found in Australia and other areas, is being mined to provide a significant amount of the world's commercial lithium.
To obtain commercial-grade lithium, the spodumene rock must undergo substantial chemical processing. Due to the high amount of chemical waste and pollution it produces, this process is expensive and potentially harmful to the environment.
Direct Lithium Extraction[edit]
The time it takes to start producing lithium is much quicker than with larger plant designs because of the Direct Lithium Extraction technique developed by Dr. John Burba, the Godfather of lithium. This is a patented technology. There is less need for purification processing because the technique rejects the contaminants, which results in less chemical waste and pollution from the lithium extraction process. In reality, over 90% of the brine water used in direct lithium extraction is recycled back into the solar, allaying any worries over groundwater usage.[6]
MULE (The Modular Direct Lithium Extraction Plant)[edit]
IBAT is the first business in the world to successfully run a commercial-scale mobile lithium extraction plant. IBAT operates the modular direct lithium extraction (MDLE) plant in Lake Charles, Louisiana, which has been extracting lithium chloride (LiCl) since mid-May 2022 and flow-testing brine containing lithium since early May. According to its current configuration, the Plant is intended to generate 5,738 tonnes of lithium chloride annually, or 5,000 tonnes of lithium carbonate equivalent annually, from brine that contains 1,800 parts per million (ppm) of lithium.[7]
Lithium Extraction Results[edit]
During the site inspection, the plant's operation with source brine containing 300 ppm Li during three cycles of absorption and elution was observed. The estimated lithium extraction is 72.6 – 87.5% when the average is 81.0%. The estimated lithium recovery to product is 58.3 – 89.0% with an average of 68.8%. IBAT also shows on its Modular Direct Lithium Extraction Plant Performance Review Summary that the estimated lithium loading into the absorption media is 1.36 – 2.02kg with an average of 1.75kg (1.54kg/m3).[8]
SLR’s Verifications[edit]
First-of-its-kind modular, Mobile Lithium Extraction plan from IBAT has been reviewed independently by SLR International Corporation (SLR), a leading provider of environmental and engineering services. SLR confirmed that this unique technique effectively removes contaminants, recycles and reuses more than 94% of water, and extracts more than 65% of the lithium that is present in brine.[9]
Lawsuit[edit]
Two former workers of the Company brought (2021) a claim against IBAT in a federal court in the United States for alleged wrongful termination and violation of the Share Exchange Agreement. The Company thought that since the employees were fired for good reason, the charges made in the complaint are irrelevant and unfounded. The Plaintiffs were also seeking the issuance of additional shares under the terms of the Exchange Agreement in respect of subsequent patents filed by the Company. All Company obligations to issue the shares had previously been fully disclosed by the Company in its public filings.[10]
Leadership[edit]
Dr. John Burba, Ph.D., Executive Chairman & Director of the Global Technology[edit]
- He has more than 40 years of experience working as a physical chemist and business executive in the lithium and mineral extraction industries. He created and patented a selective lithium absorbent in the 1980s and early 1990s that made it possible to successfully recover lithium chloride from an aqueous brine.
- Through his efforts in the 1990s, FMC commercialized the absorbent process known today as direct lithium extraction (DLE).[11]
Garry Flowers, CEO[edit]
- A senior executive with extensive experience in operations and construction management. Since 2016, he has been the Fluor Corporation's Executive Vice President and Section 16b Officer, in charge of Construction & Fabrication, Health, Safety, and Environmental (HSE), Corporate Security, Corporate Investigations, Industrial Relations, Corporate Supply Chain, and Corporate Risk.
- Mr. Flowers was president and chief executive officer of Savannah River Nuclear Solutions, LLC, the Fluor-led partnership which oversaw the management, cleanup, and operations at the Department of Energy’s Savannah River Site in Aiken, South Carolina.
- He served as Group President of Global Services, Operations and Maintenance wherein he managed a 3 billion operations and maintenance business department with 19,000 employees in over 100 countries.[12]
Mr. Yick Cheung Chan, Chief Financial Officer[edit]
- Mr. Yick Cheung Chan is a seasoned finance consultant and executive with over 20 years of experience working in finance, marketing, sales, manufacturing, and research and development. His expertise primarily lies in the financial and operational improvement of companies. He has experience supporting startups and VC-backed companies that require the development of financial processes, operational procedures, and compliance systems to ensure adherence to standard financial statements.
- Mr. Yick received an MBA from the Wharton School, University of Pennsylvania, a B.S. from the Polytechnic Institute of NYU, and an M.S. from Rensselaer Polytechnic Institute.[12]
- ↑ PitchBook. International Battery Metals General Information. Retrieved on 12/18/2022.
- ↑ International Battery Metals. WHO WE ARE. Retrieved on 12/18/2022.
- ↑ BARRON’S. International Battery Metals Ltd. Retrieved on 12/18/2022.
- ↑ Canadian Securities Exchange. Bulletins, 2017-0814 – Name and Symbol Change - Rheingold Exploration Corp. (RGE). August 24, 2017.
- ↑ Crunchbase. International Battery Metal. Retrieved on 12/18/2022.
- ↑ IBAT. Lithium Brine Extraction Technology. Feb 9, 2022.
- ↑ Innovation News Network. Introducing the world’s first commercial-scale modular and mobile lithium extraction plant. November 15, 2022.
- ↑ IBAT Modular Direct Lithium Extraction Plant Performance Review Summary. September 27, 2022.
- ↑ Junior Morning Network, International Battery Metals: World's First Modular, Mobile Lithium Extraction Technology Validated by SLR in Independent Review, Sept. 27, 2022.
- ↑ Prnewswire. Update From the CEO Dr. John Burba. May 25, 2021.
- ↑ linkedin.com. John Burba. Accessed on 12/19/2022.
- ↑ 12.0 12.1 International Battery Metals. Leadership. Accessed on 12/19/2022.
OTC Symbol: IBATF | OTC Tier: Pink Current
