Monday, February 26, 2024 1:06:41 PM
The shares have been on a tear since the firm recently reported that it had leased the plant to a “significant producer of metals and minerals.” Since then, the stock has jumped almost 50%.
The plant is slated to generate 4,000 tons of lithium annually when it begins operations in Q2, and International Battery Metals will receive royalties on the plant’s lithium production. Eventually the lessee has the option to buy the plant, but International Battery Metals would keep the rights to the technology. This unique deal makes IBATF one of the top hot small-cap stocks for January 2024.
Many other major companies, including Albemarle (NYSE:ALB), Rio Tinto (NYSE:RIO) and General Motors (NYSE:GM) have tried to develop DLE technology but none have commercialized it yet.
International Battery’s market capitalization is $190 million.
https://finance.yahoo.com/news/3-hot-small-cap-stocks-110000731.html
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