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EVL Holdings cant make up their mind. buying 2million worth of shares two weeks ago and selling 1.5 million worth of shares this week.
hows the court case going here? still muddying through i suppose. yeah?
The discovery hearing was Nov 6th. no settlement yet and in the recent motion IBAT is requesting a partial summary judgement. looks like either way things are moving to a trial. imo this is still not a buy yet things are evolving tho. things will start getting spicy when the trial date is announced imo. i wouldnt want to be tied to this anchor when that happens.
I am impressed that TradingCharts and gregcod are still in ibat and posting almost every day. With the price approaching the 0.50 level and the trial for the court case starting up this month or so. Looks like the judge recently confirmed that Burba is no longer part of the court case, good for him being able to wiggle his way out from under the giant fxk up he made as ceo. If the timing makes sense for me and depending on how the court case goes/ I might be back here in the next month or two. Current bag holders are likely in for some tense times and the price drop over the past 1-2 years have been brutal here.
Looks like Sunresin is building a $25 million dollar 3000t/year demo plant (Chinese link) for the Doncella project on salar de arizaro that is owned by Hanacolla SA which is owned by Hanaq Group. Hanacolla will need to transport it from china to their claims in arizaro and are responsible for all the permitting and stuff. In the last year it looks like Hanacolla has put down at least 4 drill holes on their tenements on salar de arizaro. It would be nice to see LITH do something similar, I am expecting some sort of info on a demo plant on Lith claims in arizaro.
REMSA state owned company currently has a tender active for 5 plots in the north part of Salar de Arizaro that together total ~27,570 ha.
Link 1 Link 2 Link 3
The last two pages of the official term sheet for the tender show the map of the plot locations and also the schedule for the tender.
Bids are due august 11th. Also the bidders are required to keep proof of funds related to the bid available for at a minimum of 60 days with room for extension beyond that. So seems like REMSA expects to award the tender exploration/exploitation on all the plots within about 60 days after Aug 11th.
I wonder how much money these bids are going to attract? I bet it will boost attention and value to LITH. also the timing for LiTH to update resources is perfect for this tender, makes me think that the bidders will likely be looking at buying out or partnering with LITH. Also i am willing to bet LITH is working to be a competitive bidder!
Holding long! GLTA. This is very undervalued the next few weeks will push this higher and the tender results could send us to the moon!
Lithium Chile recent post on Twitter July 27th drop of Preliminary Economic Analysis. Link
Next week I am expecting results from the third production well.
Following this I expect results from Diamond Hole 6.
Next few weeks are set for some real gains IMO.
highest volume day since march 2021 and there have only been a couple handful of days with volume like this since the stock started regaining in share price back in December 2019.
This volume bodes well for this run. things could get pretty wild here imo.
Only other comparable company on the same Phase 3 trial is FibroGen Inc with a market cap over $1.1 billion.
A Multi-center Trial to Evaluate Multiple Regimens in Metastatic Pancreatic Cancer
https://classic.clinicaltrials.gov/ct2/show/NCT04229004
Next stop $3.00 then $4.00 then its pretty much blue sky.
Also Phase 1 Clinical trials for viral loaded CAR-T cells announcement is also imminent. This new treatment process has shown to have 80% to 100% total cure rate for the brain cancer model used on rodents. I wonder who our partners will be for this? :D
This clinical trial annoucement will be the cherry on top of the upcoming announcement for the Phase 3 trial for breast cancer. (who is going to be the partner for this? :D)
The coming weeks and months is ONCY's time to pop off!
ONCY IS A PHASE 3 BIOTECH COMPANY WITH AN ADDITIONAL IMMINENT PHASE THREE ANNOUNCEMENT.
Cheers to all here. I invested in the 2019 and sold in 2020. recently bought back in earlier this month. Cheers to the longs here too!
I am here. Here is a comment for appreciation and to bring attention to ONCY.
probably anyone who is worried about the court case.
Quote from this article :
"«We see a delayed Ministry of Mining due to the advancement of Lithium and its discussion. The process was seen a bit with the seven chairs that ended up being only five ».
Why doesn't the Minister of Education come out?
«He does not come out because Deputy Jiles asked for his head. In the end what saved the Minister of Education is the rejection of the tax reform. They gave him two undersecretaries and they support him to help the management ».
What happened in Mining?
«Marcela Hernando stayed. José Antonio Gómez could be a letter. I don't know the details of why Marcela Hernando stayed. I don't know why she stayed her »"
Also the sorcia getting land in maricunga is news that is from 2021.. I had a good write up about it back then, but basically its useless land . Its within the national park and its like on a steep boulder/rocky hill i think If i remember right.
"3. Those who were saved. The main one was Marco Antonio Ávila from Mineduc, in addition to Marcela Hernando in Mining."
I think that might mean they are saved for now but are still expected to get the sack later. I bet she sticks around until lithium policy is announced then she gets replaced.
imo ibat tech is not going to be on conventional salars the license soricia has is only good for oil field brines, and the lawsuit that is about to start its progression to a trail in over the new few months directly relates to this issue.
"Other ministers also walked to their ministries, while the press chased them. For example, Luis Cordero (Justice), Juan Carlos Muñoz (Transport) and Marcela Hernando (Mining) returned to their offices, in the latter case an almost certain candidate to leave the cabinet." link
Marcela is running from the press, she knows she is getting the boot!
Court case trial is coming up probably not a good time to hold...
looks like the deadlines for the court case against Burba and IBAT has some deadlines for the trial coming up.
01/06/2023 61 MINUTE ORDER by Magistrate Judge Kristen L. Mix on 01/06/2023. IT IS HEREBY ORDERED that the Unopposed Motion to Amend Scheduling Order 59 is GRANTED as follows. The deadline to serve written discovery requests is extended to March 14, 2023. The discovery cut-off is extended to April 28, 2023. The dispositive motions deadline is extended to May 31, 2023.(alave, ) (Entered: 01/09/2023)
WOW i cant believe i called it last month . $0.58 private placement. mmmhmm real nice and cheap compared to current sp
anyone smell a cheap capital raising event coming? less than a quarter of cash on hand? my guess is they sell for $0.58 a share. what are y'all's guesses?
Experts from Bolivia, Chile and Argentina will discuss lithium logistics.
"The future processes of coordination, management and transport of lithium in the Uyuni, Pastos Granes and Coipasa salt flats in Bolivia will be analyzed by experts from Chile, Argentina and Bolivia in a virtual forum called "The Logistics of Lithium", it was reported."
participating will be " José de Castro, from Argentina, an international consultant with experience in the development of projects and comprehensive operation of lithium mines, is also a director of Lithium Chile Inc. and Chief Operating Officer of Integra Natural Resources SA" where he will talk about "the logistical processes prior to the exploitation and mass production of lithium"
Well the dismissal was only related to the claims of tortuous interference.. all the other claims are still on the table and look to be going to trial. Those include all the claims related to the breach in licensing contract whereby ibat marketed and sub-licenenced NAL intellectual property for use in brines that are not oil field brines..
So the judge dismissed the least significant claims.. nice win for IBAT (NOT). this lawsuit is going to bring burba and IBAT to its knees.. IBAT will lose its licenced IP from NAL and Burba will not be employed by IBAT by the time the fat lady sings..
Looks likes I will be shorting this stock pretty soon. thanks for the update.
Cheers!
so another article came out that talks about how the colla people are fighting against the lithium projects in maricunga.
in the article Elena Rivera has stated that the recent government approval decision of the Minera Salar Blanco Project is currently undergoing an appeal process, which has delayed the start of any mining activity. I cant find any information about the Blanco project being under some appeal process. Could you please tell me about any appeal process related to the Minera Salar Blanco project?
Here is a link to the article i reference. the article came out today.
https://www.nrdc.org/es/stories/mineria-litio-dejando-comunidades-indigenas-chile-altas-secas-literalmente
falling knife is taking shape. imo
Bummer that Marc doesnt want anything to do with IBAT because Burba focked him hard in de bum bum. and is currently suing the company for pretty much everything ibat has RN.
The court case filings have begun!
The IBAT counterclaim ooo. what do you make of that? Especially how this is now only coming to light after discovery is complete for the original claims?. Not looking to good for the dismissal ehh?
you still think they will settle and all will the blue skys and sun shine?
Midas letters
Summit Nanotech CEO Amanda Hall interview
Here is a post I made of my analysis of the court case in may last year. What i remember from 2018 is unexpectedly losing the Marc and Christina from the ibat team, then shortly after the JV with sorcia. Also I remember after that happened the word "oil-field brine" was missing from all company updates until 2021 in may.
Lawsuit analysis made on May 19th 2021:
This lawsuit, like all, is a moving target. First off so far we only get to see the plaintiffs views and opinions of the current state of things. We have not yet gotten a response from IBAT relating to these claims.
So in 2016 Burba partnered with these two other people to form a company called North American Lithium (NAL). These two people were/are Marc Philip Privitera and Christina Metz Borgese. These two people partnered with Burba to create a company called NAL, this company was to hold the Intellectual Property equally owned equally by Burba, Priviteral, and Borgese. NAL still owns the intellectual property for the mobile extraction unit. Well when this happened burba then formed ibat to focus on the oil-well brine. Specifically NAL contractually assigned the commonly owned intellectual property to IBAT which restricts Ibats use of the intellectual property only be used with oil-field brine. All other applications except for a specifically designated area of the imperial valley were to be used only by NAL. So the contract with NAL was that all three members would be also be part of IBAT where they could control the people who were 51% of the IBAT board of directors, and that ibat could only own the rights to oil-fields related intellectual property. At the same time the Salton sea brine areas in the imperial valley was set apart from that requirement but the company that owns the rights to mine the Salton sea valley for lithium refused to work with Burba. For some unknown reason, the salton sea company who owned the mining rights for imperial valley refused to work with burba either through ibat or NAL. So the two other partners of nal decided to try and set up a deal with the Salton sea company without burba, which was explicitly designated as something allowed in the contract that ibat had with NAL along with the employment contracts which Privitera and Borgese had with IBAT. Well something happened and burba decided to terminate the employment of both Privertera and Borgese, from their executive ibat positions, in may 2018 only weeks after signing the contract IBAT made with NAL for the intellectual property related to oil-field brines. From the lawsuit it seems he terminated their employment because they were making the deal with the salton sea company whereby he was not directly involved because the salton sea company refused to deal with burba directly. So this is the history lesson that we learn from the the lawsuit.
Going further down this rabbit hole, the lawsuit claims that IBAT has not released the original share certificates which IBAT contractually is obligated to give to both Privertera and Borgese, whereby they have not yet be able to deposit these IBAT shares into any "main street" brokerage firm because the certificates they were given are copy's and not the original. The lawsuit goes on to claim that they have not yet been able to get the original share certificates related to the NAL intellectual property acquisition contract. Also since this has happened burba has licensed the patent pending intellectual property acquired from NAL to Sorcia for non oil-fields related intellectual property and use. (Futhermore, at the patent office where burbas patent is running in to trouble. One of the main points from the examiner is that the use of the patent for oil-field specific brines is not a patentable claimed because it is a obvious use of such technology as it stands in the art. This makes it seem like IBAT will not be able to get a oil-field specific patent under the current circumstances.)
It makes it seem like burba has been violating the intellectual property contract agreement it has with NAL. Along with the withholding of the original share certificates contractually obligated to both Privertera and Borgese from the NAL - IBAT intellectual property contract.
Although there is a way for things to work them selves out in ibat's favor for sure. Like there is a chance ibat could end up with reinforced rights to it's intellectual property and that of all the non oil-fields brine applications/property as well. But I have no idea what the court might do. And these allegations are pretty intense and unexpected, so I do not lean towards thinking this will occur.
So to sum things up these are the summary of claims against IBAT as presented by both Privertera and Borgese where Privertera is still a executive officer employed at IBAT.
1. Breach of Borgese Employment Agreement against IBAT
Burba Fired Borgese for inappropriate reasons. The lawsuit Requests payment for salary, severance, and bonus. As specified by their employment contract.
2. Breach of Privitera Employment Agreement against IBAT
Burba Fired Privitera for inappropriate reasons. The lawsuit Requests payment for salary, severance, and bonus. As specified by their employment contract.
3. Breach of Share Exchange Agreement against IBAT
Non-payment of Quarterly Royalty Payments, in violation of
Section 2.4 and Schedule C
Failure to create of advisory board “to oversee the development
and implementation of lithium extraction and processing
technology” where two of three positions are to be appointed by
NAL
. Prevented NAL from overseeing the development and
implementation of the intellectual property,
Prevented NAL from nominating 51% of IBAT Board seats
Licensing of technology to other parties
4. Breach of Contract Share Exchange Agreement against IBAT
By the Holders of Shares Issued by SA Lithium, Borgese and Privitera
(“Borgese and Privitera”)
Failure to deliver original share certificates to Borgese and
Privitera for 1,566,667 and 1,566,666 shares respectively in
violation of SEA Section 2.2(a
Failure to issue Vend-In Shares to Borgese and Privitera of
5,024,330 and 5,024,332 shares respectively in violation of SEA
Section 2.2(b) (i-iii) and Schedule A
Failure to issue Stock Option Plan shares in violation of SEA
Section 2.2., estimated to be 5,698,500 to each Borgese and
Privitera,
Failure to grant additional stock option participation in violation of
SEA Section 3.2(a),
Preventing Borgese and Privitera the right to nominate individuals
to fill the “EVP Engineering and Operations and EVP Research
and Development positions” in violation of SEA Section 3.4
Failure to grant additional stock option participation in violation of
SEA Section 3.2(a)
5. Tortious Interference with Prospective Business Relations against Burba and IBAT
by Borgese and Privitera
IBAT also knew or reasonably should have known of Borgese and
Privitera’s ongoing and prospective business relations with SSI because the intellectual
property acquired by IBAT was limited to “lithium extraction from oil-field brines”, and
EEA Section 7 excluded work done on geothermal sources in the Imperial Valley from
competitive conduct.,
Burba and IBAT’s interference with the above matters was intentional,
improper and without authorization
6. Breach of Contract against Burba
By NAL
Since August 2018 Burba has failed to provide capital to support the
operations of NAL
NAL sent Burba a request for a capital contribution for his share of the
NAL expenses
As a direct and proximate result of Burba’s violations of the contractual
obligations to NAL, NAL has suffered and will continue to suffer monetary damages
Overall I feel like there are many very troubling parts to this lawsuit.
First Privitera who is still a board member is part of this lawsuit against IBAT.
Second Ibat is accused of not fallowing through with the contract to acquire its intellectual property from NAL on multiple fronts and sections.
Third IBAT has known its intellectual property is restricted to oil-field brines but has made license agreements with Sorcia which are not related to oil-field brines.
Therefore this lawsuit as it is now presented is a threat to three aspects for IBAT.
1. it is a monetary threat due to the potential for inappropriate employment termination, and all the costs/fees assocated.
2 it is a threat to intellectual property related to the apparent violation of the contract between IBAT and NAL for intellectual property
3 it is a threat to the license agreements between IBAT and Sorcia because IBAT has licensed its technology for use in non oil-field brine areas which goes explicitly beyond the contractual obligations made between IBAT and NAL
im not here to answer all your questions my dude. I know where you are coming from and you are hedging your bets on this court thing being a none issue. but to me it looks like a big issue. should find out soon enough.
since like april 2018, that is when my first post on this board was atleast.
Price getting walked down by the mm all day. Logan anderson has been selling for weeks. sp is primed for another major correction imo.
seeing as tomorrow is a holiday any court case update might not come until at-least midweek next week. Some bag holders are likely sweating. I know Im the only voice of caution on this board but i think most everyone else here is stuck in the denial stage of the court situation. dont worry bag holders you should find out soon enough, so you can move on to the anger stage.
Some of the recent and upcoming events for IBAT are as follows:
The five stages of grief are:
1. denial. (april 2021 to april ~20ish 2022) ( wild gains of 1000%+ in sp)
2. anger. (april 25ish to may 18thish) (stock falls and comes with even more wild volatility)
3. bargaining. (may to june) (in this case its just bag holders selling and shorts laughing with their back teeth)
4. depression. (may to june) (more selling, still some bag holders around on this board posting bullish predictions and chanting about Burba being the king of lithium)
5. acceptance. (june to july) (burba is fired by the board or quits, IBAT loses sorica partner ship and contract to NAL, court oversees reparations to NAL related to all the damages caused by burba and ibat. Stock price settles around the $0.50 to $0.75 rangeish. All the remaining bag holders unite around the new leadership CEO and company plans for ibat and continue to pump on this board like nothing ever happened.)
Yeah i expect the dismissal to be rejected because the plaintiffs claims are pretty broad and to me they seem substantial and credible given the evidence i have seen from court documents and the actions of burba and ibat during the events of question. Here is a list of the claims made.
The Plaintiffs’ have alleged six claims for relief:
1. First Cause of Action. Breach of Borgese Employment Agreement against IBAT. IBAT
employed Borgese as an Executive Vice President Research and Development per the terms of
an Executive Employment Agreement, (“EEA”). The EEA contained clauses including terms
governing removal for cause, outside work, executive’s intellectual property, competitive conduct
and exceptions, severance and change in control. Borgese was terminated by IBAT on June 29,2018, without just cause in breach of the EEA resulting in damages to Borgese.
2. Second Cause of Action. Breach of Privitera Employment Agreement against IBAT. IBAT
employed Privitera as an Executive Vice President of Engineering and Operations per the terms
of an Executive Employment Agreement, (“EEA”). The EEA contained clauses including terms
governing removal for cause, outside work, executive’s intellectual property, competitive conduct
and exceptions, severance and change in control. Privitera was terminated by IBAT on June 29,2018, without just cause in breach of the EEA resulting in damages to Privitera.
3. Third Cause of Action. Breach of Share Exchange Agreement against IBAT, (“SEA”). A
SEA was entered into on April 12, 2018, Selective Absorption Lithium, Inc., (“SAL”) a technology
company owned equally by Borgese, Privitera and Defendant Burba, became wholly owned by IBAT. IBAT violated the SEA when they failed to pay defined direct costs and fees, paid a nondesignee, issued shares to Borgese and Privitera that were copies instead of originals and not
negotiable with any major firm, did not pay royalty payments, failed to create an advisory board,
prevented NAL from overseeing the development and implementation of lithium extraction and
processing technology, prevented NAL from nominating 51% of IBAT board seats, licensed
technology to other parties, and failed to deliver stock certificates and stock options to Borgese and
Privitera, causing damages.
4. Fourth Cause of Action. Breach of Contract Share Agreements Against IBAT by the Holder
of Shares Issued by SA Lithium, Borgese and Privitera. The Contract Share Agreement required
IBAT to deliver original share certificates, a stock option plan and additional stock and stock options
to Borgese and Privitera, as well as implement appointments to advisory board roles and Executive
Vice President positions preventing Borgese and Privitera the right to oversee. IBAT failed to
perform any of these obligations causing damages to Borgese and Privitera.
5. Fifth Cause of Action. Tortious Interference with Prospective Business Regulation against
Burba and IBAT. Borgese and Privitera had ongoing and prospective business relations with
Salton Sea Industries (“SSI”) and others including but not limited to Paul Austin. These prospective
business opportunities were specifically sanctioned by the terms of their existing contracts including
their EEA and the SEA. Burba knew about these non-competing outside interests of Borgese and
Privitera and interfered with the relationship in order to take away the opportunity from them and
abscond it for himself and/or IBAT.
6. Sixth Cause of Action. Breach of Contract against Burba. North American Lithium, Inc.
(“NAL”) is a company owned by Burba, Borgese and Privitera and focuses on lithium extraction.
As shareholders and pursuant to the NAL Shareholders Agreement, all shareholders are required
to provide capital contributions to NAL if additional funds are required to meet NAL’s obligations.
Since August 2018 Burba has failed to provide capital to support the operations of NAL causing
damages to Borgese and Privitera.
Also here are the computed damages.
Computation of Damages.
Plaintiffs are claiming damages as follows:
a. Unpaid wages, severance, bonus, penalties and interest for breach of the EEA’s for both
Borgese and Privitera of approximately $185,000 wages per year each, $331,035.50 severance
each, waiting time penalties of $21,346.20 each, bonuses of 1,600,000 stock options in IBAT at
CAD $0.19 exercise price each, long-term equity compensation plans, and accrued benefits;
b. Breach of the SEA agreement includes damage of:
i. 4,898,500 stock options to each Borgese and Privitera and future grants of options,
ii. 6,590,997 shares to Borgese and 6,590,998 shares to Privitera.
iii. Defined direct costs and fees in the aggregate approximate amount of $1,400,000
and any unpaid amount owed to Attorney Buchalter.
iv. Use of intellectual property outside of the manner of oilfield brines, licensing
technology to parties, and removing Borgese and Privitera’s names from patent
applications and/or patents,
and
v. Preventing Plaintiffs from: nominating 51% of IBAT Board seats, filling the Executive Vice President positions, participating in advisory board, and overseeing development and
implementation of intellectual property.
c. Unpaid Royalties:
i. Payments due to NAL in the approximate amount of $350,000 and ongoing, and
ii. The conversion price of approximately $2,800,000.
d. Interference with prospective business, approximately $1,000,000,
e. Sums owed by Burba as capital contributions approximately $9,000,
f. Plaintiffs are also claiming pre and post judgment interest and attorney’s fees,
g. All damages will be more closely calculated when discovery is complete.
looks like ibatf finally found some solid support. ~$4.05-$4.15.
there looks to be fight between bulls and bears rn. might see some pull back up a lilttle monday and tuesday but i bet the end of next week is another step down to ~$3.00.
if there is good news end of next week (4/15/22) about the court case it could be primed for a nice recovery. But i expect bad news related to the court case (indications that the dismissal is rejected). This might set up the following week to reach down to the ~$2.00 level
IMO
GLTA
new video must watch
i keep up with ibat. i am here because i noticed ibat was overbought and i wanted to hint to the market that a change in strategy might be called for considering the ibat situation. I dont hold or sell ibat since i last posted when i sold my entire position to you i guess lol. and you are welcome. i found other gems in my absence. I am interested in ibat but the court case and potential fudge job done by burba turned me away. I will likely wait until there are indications from the court before i ever decide to buy or short sell .
more like a falling knife. imo.
Well I am guessing you are holding then. I assume that everyone who is holding and is knowledgeable about the court case also thinks that they will settle(or bag holders might be thinking that there is no real concern about the case against burba) hmmm. well we shall see pretty shortly i guess..
With the upcoming Discovery due by 4/15/2022 and Motions Due by 5/18/2022 in the current court case against Burba/IBAT. Anyone here going to change their strategy with maybe taking advantage of the looming potential volatility or collapse of SP?