QTinsight

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Night Market Research
Initial Report Date（2022/11/26）Share Price:3.120 Listed on CSE

International Battery Metals: Overinflated and Precariously Underfunded

We are short International Battery Metals (CSE:IBAT), a Canada-based developer of lithium extraction technology led by a CEO whose two previous mineral extraction ventures wiped out shareholders. IBAT shares have been swept higher by glowing projections from management and widespread enthusiasm for EV-associated battery metals: in the last two years IBAT’s market capitalization is up 110x to $450m (all figures in CAD), gratuitous considering IBAT has yet to show that it’s mobile direct lithium extraction (DLE) technology works at pilot scale.

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