International Battery Metals Ltd (IBATF)

[accipiterr]

It appears IBAT has sold its JV position in the Bygoo tin project with Thomson Resources. On April 5 Thomson Resources released a update saying that BeiSur Ost Barat Agency Ltd was in the process of 'negotiating with other parties' on paying the outstanding funds that IBAT was going to be paying (3 million by June 30), in order to acquire 51% of the Bygoo tim project. (http://www.abnnewswire.net/press/en/92649/Thomson-Resources-Ltd-%28ASX-TMZ%29-Strong-Tin-Results-at-Bald-Hill-92649.html)

Then today June 4 Thomas Resources just announced that "Bygoo farm-in rights have effectively transferred from International Battery Metals to BeiSur Ost Barat Agency Ltd". (http://www.abnnewswire.net/press/en/93388/Thomson-Resources-Ltd-(ASX-TMZ)-Company-Update-93388.html)

Looks to me like IBAT sold its way out of the agreement with Thomas Resources because it thought that its resources were much better used to focus on executing its novel and selective lithium extraction processes. I think this is good news because having to meet the 3 million$ agreement that was due at the end of June would have pulled many of our resources away from the lithium focus. I think this move shows the new drive of the company with Burba in charge to push the company right into lithium production asap. GL to all, we have a real gem here IMO.

Long and and buying shares at this low price and potential bottom.